Shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) saw strong trading volume on Monday . 7,152,898 shares were traded during mid-day trading, an increase of 851% from the previous session’s volume of 752,114 shares.The stock last traded at $2.23 and had previously closed at $1.95.

Several research analysts have recently commented on the company. ValuEngine raised Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research raised Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.57.

The firm’s market cap is $333.68 million. The stock’s 50-day moving average is $1.84 and its 200 day moving average is $1.93.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The company had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.20 million. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%. On average, equities research analysts predict that Idera Pharmaceuticals, Inc. will post ($0.49) earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of IDRA. FMR LLC increased its position in Idera Pharmaceuticals by 25.6% in the 1st quarter. FMR LLC now owns 3,154,462 shares of the biotechnology company’s stock valued at $7,792,000 after acquiring an additional 642,762 shares during the period. Royce & Associates LP acquired a new position in Idera Pharmaceuticals in the 1st quarter valued at about $1,147,000. Oxford Asset Management acquired a new position in Idera Pharmaceuticals in the 1st quarter valued at about $743,000. State Street Corp increased its position in Idera Pharmaceuticals by 13.0% in the 2nd quarter. State Street Corp now owns 1,787,852 shares of the biotechnology company’s stock valued at $3,075,000 after acquiring an additional 205,217 shares during the period. Finally, Vanguard Group Inc. increased its position in Idera Pharmaceuticals by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,181,108 shares of the biotechnology company’s stock valued at $8,911,000 after acquiring an additional 173,775 shares during the period. Hedge funds and other institutional investors own 30.96% of the company’s stock.

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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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