Idera Pharmaceuticals, Inc. (IDRA) Releases Quarterly Earnings Results
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03, Bloomberg Earnings reports. The firm had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.20 million. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%.
Idera Pharmaceuticals (NASDAQ:IDRA) traded up 1.17% during mid-day trading on Friday, reaching $1.73. The company had a trading volume of 1,011,897 shares. The stock has a 50 day moving average price of $1.83 and a 200 day moving average price of $1.89. The company’s market capitalization is $258.86 million. Idera Pharmaceuticals has a one year low of $1.30 and a one year high of $3.33.
An institutional investor recently raised its position in Idera Pharmaceuticals stock. The Manufacturers Life Insurance Company increased its position in shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) by 7.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,976 shares of the biotechnology company’s stock after buying an additional 6,316 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Idera Pharmaceuticals worth $164,000 as of its most recent filing with the SEC. 31.37% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on IDRA. Robert W. Baird began coverage on Idera Pharmaceuticals in a report on Monday, April 24th. They issued an “outperform” rating and a $5.00 price target on the stock. ValuEngine upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, Zacks Investment Research lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, May 5th. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $4.57.
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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