Todays Report: Today: Idera Pharmaceuticals’ (IDRA) Outperform Rating Reiterate at Wedbush

Today: Idera Pharmaceuticals’ (IDRA) Outperform Rating Reiterate at Wedbush

Idera Pharmaceuticals Inc. (NASDAQ:IDRA)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research note issued to investors on Monday. They currently have a $6.00 price target on the stock. Wedbush’s price target points to a potential upside of 227.87% from the company’s previous close.

Several other analysts have also recently commented on IDRA. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.75 target price for the company in a research report on Tuesday, November 1st. S&P Equity Research upped their target price on shares of Idera Pharmaceuticals from $1.86 to $2.10 in a research report on Friday, October 7th.

Idera Pharmaceuticals (NASDAQ:IDRA) traded down 2.19% during mid-day trading on Monday, reaching $1.79. The company had a trading volume of 2,601,075 shares. Idera Pharmaceuticals has a 12 month low of $1.19 and a 12 month high of $4.42. The stock’s market cap is $264.30 million. The firm’s 50-day moving average price is $1.76 and its 200-day moving average price is $1.80.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings data on Friday, October 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. Idera Pharmaceuticals had a negative return on equity of 76.66% and a negative net margin of 4,621.03%. Equities research analysts forecast that Idera Pharmaceuticals will post ($0.43) EPS for the current fiscal year.

In other Idera Pharmaceuticals news, Director Julian Baker bought 3,250,000 shares of the company’s stock in a transaction on Friday, October 7th. The stock was bought at an average price of $2.00 per share, for a total transaction of $6,500,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 29.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in Idera Pharmaceuticals by 11.8% in the second quarter. Creative Planning now owns 121,300 shares of the company’s stock worth $186,000 after buying an additional 12,800 shares in the last quarter. California State Teachers Retirement System boosted its stake in Idera Pharmaceuticals by 1.9% in the second quarter. California State Teachers Retirement System now owns 186,693 shares of the company’s stock worth $286,000 after buying an additional 3,478 shares in the last quarter. BlackRock Investment Management LLC boosted its stake in Idera Pharmaceuticals by 7.3% in the second quarter. BlackRock Investment Management LLC now owns 334,389 shares of the company’s stock worth $512,000 after buying an additional 22,791 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Idera Pharmaceuticals by 4.3% in the second quarter. BlackRock Fund Advisors now owns 2,332,615 shares of the company’s stock worth $3,569,000 after buying an additional 97,125 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Idera Pharmaceuticals by 19.8% in the second quarter. Alliancebernstein L.P. now owns 66,600 shares of the company’s stock worth $102,000 after buying an additional 11,000 shares in the last quarter. Institutional investors and hedge funds own 23.40% of the company’s stock.

About Idera Pharmaceuticals

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