Idera Pharmaceuticals Inc (NASDAQ:IDRA)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a research note issued on Friday. They currently have a $6.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 169.06% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.75 price target on the stock in a research note on Monday, January 16th. Cowen and Company restated an “outperform” rating on shares of Idera Pharmaceuticals in a research note on Tuesday, November 29th.

Idera Pharmaceuticals (NASDAQ:IDRA) opened at 2.23 on Friday. The firm’s market capitalization is $329.27 million. Idera Pharmaceuticals has a one year low of $1.19 and a one year high of $3.33. The firm has a 50-day moving average price of $1.72 and a 200 day moving average price of $1.80.

Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings results on Wednesday, March 15th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.12. Idera Pharmaceuticals had a negative net margin of 4,621.03% and a negative return on equity of 76.66%. Equities research analysts anticipate that Idera Pharmaceuticals will post ($0.40) earnings per share for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Idera Pharmaceuticals during the fourth quarter valued at about $450,000. Alyeska Investment Group L.P. boosted its position in Idera Pharmaceuticals by 23.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,091,104 shares of the company’s stock valued at $1,637,000 after buying an additional 210,278 shares during the period. Broadfin Capital LLC boosted its position in Idera Pharmaceuticals by 82.4% in the fourth quarter. Broadfin Capital LLC now owns 4,427,745 shares of the company’s stock valued at $6,642,000 after buying an additional 2,000,000 shares during the period. FMR LLC boosted its position in Idera Pharmaceuticals by 10,453.4% in the fourth quarter. FMR LLC now owns 2,511,700 shares of the company’s stock valued at $3,768,000 after buying an additional 2,487,900 shares during the period. Finally, State Street Corp boosted its position in Idera Pharmaceuticals by 11.7% in the fourth quarter. State Street Corp now owns 1,553,323 shares of the company’s stock valued at $2,330,000 after buying an additional 162,173 shares during the period. Institutional investors and hedge funds own 23.23% 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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