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