Today, Idera Pharmaceuticals Inc. (IDRA) Receives Outperform Rating from Wedbush

Today, Idera Pharmaceuticals Inc. (IDRA) Receives Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Idera Pharmaceuticals Inc. (NASDAQ:IDRA) in a research note published on Monday. They currently have a $6.00 price objective on the stock.

Several other equities analysts have also recently issued reports on IDRA. S&P Equity Research upped their price target on shares of Idera Pharmaceuticals from $1.86 to $2.10 in a research report on Friday, October 7th. Zacks Investment Research cut shares of Idera Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, August 4th.

Shares of Idera Pharmaceuticals (NASDAQ:IDRA) opened at 1.80 on Monday. The company’s market capitalization is $265.78 million. Idera Pharmaceuticals has a 52-week low of $1.19 and a 52-week high of $4.42. The company has a 50-day moving average of $1.76 and a 200 day moving average of $1.81.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings data on Friday, October 28th. The company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Idera Pharmaceuticals had a negative net margin of 4,621.03% and a negative return on equity of 76.66%. Analysts predict that Idera Pharmaceuticals will post ($0.43) earnings per share for the current year.

In other news, Director Julian Baker acquired 3,250,000 shares of the firm’s stock in a transaction dated Friday, October 7th. The stock was bought at an average cost of $2.00 per share, for a total transaction of $6,500,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 29.50% of the company’s stock.

Several large investors have recently bought and sold shares of IDRA. Emerald Acquisition Ltd. purchased a new stake in Idera Pharmaceuticals during the third quarter valued at $100,000. Highbridge Capital Management LLC purchased a new stake in Idera Pharmaceuticals during the third quarter valued at $109,000. Wells Fargo & Company MN boosted its stake in Idera Pharmaceuticals by 120.6% in the third quarter. Wells Fargo & Company MN now owns 46,810 shares of the company’s stock valued at $120,000 after buying an additional 25,589 shares during the period. BlackRock Advisors LLC boosted its stake in Idera Pharmaceuticals by 16.2% in the third quarter. BlackRock Advisors LLC now owns 47,166 shares of the company’s stock valued at $121,000 after buying an additional 6,564 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Idera Pharmaceuticals during the third quarter valued at $131,000. Institutional investors own 23.40% of the company’s stock.

Idera Pharmaceuticals Company Profile

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