Trading Report: The Idera Pharmaceuticals Inc. (IDRA) Price Target Increased to $2.10 by Analysts at S&P Equity Research

The Idera Pharmaceuticals Inc. (IDRA) Price Target Increased to $2.10 by Analysts at S&P Equity Research

Idera Pharmaceuticals Inc. (NASDAQ:IDRA) had its target price lifted by equities research analysts at S&P Equity Research from $1.86 to $2.10 in a report issued on Friday. S&P Equity Research’s price target indicates a potential downside of 3.67% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $6.00 price objective on shares of Idera Pharmaceuticals in a research note on Monday, September 26th. Zacks Investment Research cut Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th.

Idera Pharmaceuticals (NASDAQ:IDRA) traded down 8.26% on Friday, reaching $2.00. The company’s stock had a trading volume of 14,285,197 shares. Idera Pharmaceuticals has a 12-month low of $1.19 and a 12-month high of $4.42. The firm has a 50-day moving average of $2.20 and a 200 day moving average of $1.82. The company’s market capitalization is $242.76 million.

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Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Idera Pharmaceuticals had a negative return on equity of 64.09% and a negative net margin of 6,169.32%. On average, equities research analysts anticipate that Idera Pharmaceuticals will post ($0.45) EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in IDRA. JPMorgan Chase & Co. boosted its position in shares of Idera Pharmaceuticals by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 3,349,700 shares of the company’s stock valued at $6,632,000 after buying an additional 187,625 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Idera Pharmaceuticals by 4.3% in the second quarter. BlackRock Fund Advisors now owns 2,332,615 shares of the company’s stock valued at $3,569,000 after buying an additional 97,125 shares in the last quarter. State Street Corp boosted its position in shares of Idera Pharmaceuticals by 10.7% in the second quarter. State Street Corp now owns 1,332,201 shares of the company’s stock valued at $2,041,000 after buying an additional 129,033 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Idera Pharmaceuticals by 0.6% in the first quarter. Geode Capital Management LLC now owns 680,280 shares of the company’s stock valued at $1,346,000 after buying an additional 4,263 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its position in shares of Idera Pharmaceuticals by 7.3% in the second quarter. BlackRock Investment Management LLC now owns 334,389 shares of the company’s stock valued at $512,000 after buying an additional 22,791 shares in the last quarter. Institutional investors own 28.44% of the company’s stock.

About Idera Pharmaceuticals

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