Equities Analysts Issue Forecasts for Idera Pharmaceuticals Inc.’s FY2019 Earnings (IDRA)
Idera Pharmaceuticals Inc. (NASDAQ:IDRA) – Equities research analysts at Wedbush boosted their FY2019 earnings per share estimates for Idera Pharmaceuticals in a research report issued on Monday. Wedbush analyst H. Behanna now anticipates that the brokerage will post earnings of ($0.39) per share for the year, up from their prior forecast of ($0.58). Wedbush currently has a “Outperform” rating and a $6.00 price target on the stock. Wedbush also issued estimates for Idera Pharmaceuticals’ FY2020 earnings at ($0.28) EPS.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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%.
Separately, Zacks Investment Research cut Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 4th.
Shares of Idera Pharmaceuticals (NASDAQ:IDRA) traded up 0.81% during midday trading on Wednesday, reaching $2.50. The company had a trading volume of 1,480,764 shares. The company has a 50-day moving average price of $2.10 and a 200 day moving average price of $1.79. Idera Pharmaceuticals has a one year low of $1.19 and a one year high of $4.42. The company’s market capitalization is $303.45 million.
Large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in 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 during the period. Rhumbline Advisers boosted its stake in Idera Pharmaceuticals by 1.0% in the second quarter. Rhumbline Advisers now owns 88,364 shares of the company’s stock valued at $135,000 after buying an additional 860 shares during the period. 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 valued at $102,000 after buying an additional 11,000 shares during the period. 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 valued at $3,569,000 after buying an additional 97,125 shares during the period. Finally, 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 valued at $512,000 after buying an additional 22,791 shares during the period. Institutional investors and hedge funds own 28.44% of the company’s stock.
About Idera Pharmaceuticals
Idera Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of therapeutics for oncology and rare diseases. The Company utilizes two drug discovery technology platforms to design and develop drug candidates, which include Toll-like receptor (TLR) targeting technology and third-generation antisense (3GA) technology.
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