Idera Pharmaceuticals Inc. (NASDAQ:IDRA) Director Julian Baker purchased 3,250,000 shares of the stock in a transaction on Friday, October 7th. The shares were purchased at an average price of $2.00 per share, with a total value of $6,500,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Idera Pharmaceuticals Inc. (NASDAQ:IDRA) opened at 1.81 on Wednesday. The stock has a 50 day moving average of $2.20 and a 200 day moving average of $1.81. The firm’s market cap is $219.69 million. Idera Pharmaceuticals Inc. has a one year low of $1.19 and a one year high of $4.42.

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

Several research analysts have commented on IDRA shares. Wedbush reiterated an “outperform” rating and set a $6.00 price target on shares of Idera Pharmaceuticals in a report on Wednesday, August 24th. S&P Equity Research boosted their price target on shares of Idera Pharmaceuticals from $1.86 to $2.10 in a report on Friday, October 7th. Finally, Zacks Investment Research cut shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 4th.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in shares of 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 last quarter. Rhumbline Advisers raised its position in shares of 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 last quarter. Creative Planning raised its position in shares of Idera Pharmaceuticals by 11.8% in the second quarter. Creative Planning now owns 121,300 shares of the company’s stock valued at $186,000 after buying an additional 12,800 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Idera Pharmaceuticals by 1.9% in the second quarter. California State Teachers Retirement System now owns 186,693 shares of the company’s stock valued at $286,000 after buying an additional 3,478 shares during the last quarter. Finally, BlackRock Investment Management LLC raised 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 during the last quarter. Institutional investors and hedge funds own 28.44% of the company’s stock.

Idera Pharmaceuticals Company Profile

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.

5 Day Chart for NASDAQ:IDRA

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