Q1 2017 Earnings Forecast for Idera Pharmaceuticals Inc. (IDRA) Issued By Wedbush
Idera Pharmaceuticals Inc. (NASDAQ:IDRA) – Analysts at Wedbush cut their Q1 2017 earnings per share (EPS) estimates for shares of Idera Pharmaceuticals in a research note issued on Monday. Wedbush analyst H. Behanna now expects that the firm will post earnings of ($0.09) per share for the quarter, down from their prior forecast of ($0.08). Wedbush has a “Outperform” rating and a $6.00 price objective on the stock. Wedbush also issued estimates for Idera Pharmaceuticals’ Q2 2017 earnings at ($0.10) EPS, Q3 2017 earnings at ($0.10) EPS, Q4 2017 earnings at ($0.10) EPS, FY2017 earnings at ($0.39) EPS, FY2018 earnings at ($0.43) EPS, FY2019 earnings at ($0.35) EPS and FY2020 earnings at ($0.24) EPS.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its earnings results 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%.
A number of other brokerages have also recently weighed in on IDRA. S&P Equity Research upped their price objective on Idera Pharmaceuticals from $1.86 to $2.10 in a research note on Friday, October 7th. Zacks Investment Research cut Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th.
Shares of Idera Pharmaceuticals (NASDAQ:IDRA) traded up 0.5054% on Wednesday, reaching $1.8694. The company’s stock had a trading volume of 308,784 shares. The firm has a 50 day moving average price of $1.91 and a 200-day moving average price of $1.79. Idera Pharmaceuticals has a 12-month low of $1.19 and a 12-month high of $4.42. The stock’s market cap is $276.02 million.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. acquired a new position in shares of Idera Pharmaceuticals during the third quarter valued at about $100,000. 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 in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Idera Pharmaceuticals during the third quarter valued at about $109,000. Wells Fargo & Company MN raised its position in shares of 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 in the last quarter. Finally, BlackRock Advisors LLC raised its position in shares of 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 in the last quarter. 23.59% of the stock is currently owned by institutional investors.
In other Idera Pharmaceuticals news, Director Julian Baker bought 3,250,000 shares of Idera Pharmaceuticals stock in a transaction that occurred on Friday, October 7th. The shares were bought at an average cost of $2.00 per share, with a total value of $6,500,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 29.50% 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.
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