Piper Jaffray Companies Reiterates “Buy” Rating for Idera Pharmaceuticals, Inc. (IDRA)
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA)‘s stock had its “buy” rating reiterated by analysts at Piper Jaffray Companies in a research report issued on Tuesday. They currently have a $4.00 price objective on the biotechnology company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 98.51% from the company’s previous close.
IDRA has been the subject of a number of other research reports. ValuEngine upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Zacks Investment Research cut Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, BidaskClub cut Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Three investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.48.
Shares of Idera Pharmaceuticals (NASDAQ:IDRA) opened at 2.015 on Tuesday. The company’s 50-day moving average price is $1.86 and its 200 day moving average price is $1.93. The company’s market cap is $301.51 million. Idera Pharmaceuticals has a one year low of $1.30 and a one year high of $3.33.
Idera Pharmaceuticals (NASDAQ:IDRA) last released its earnings results on Monday, August 7th. The biotechnology company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.03). The firm had revenue of $0.19 million during the quarter, compared to analysts’ expectations 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 anticipate that Idera Pharmaceuticals will post ($0.49) earnings per share for the current year.
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Large investors have recently made changes to their positions in the business. FMR LLC raised its stake in Idera Pharmaceuticals by 25.6% during the first quarter. FMR LLC now owns 3,154,462 shares of the biotechnology company’s stock valued at $7,792,000 after buying an additional 642,762 shares during the last quarter. Vanguard Group Inc. raised its stake in Idera Pharmaceuticals by 3.3% during the first quarter. Vanguard Group Inc. now owns 5,007,333 shares of the biotechnology company’s stock valued at $12,368,000 after buying an additional 159,828 shares during the last quarter. Alps Advisors Inc. purchased a new position in Idera Pharmaceuticals during the second quarter valued at $232,000. KCG Holdings Inc. raised its stake in Idera Pharmaceuticals by 70.8% during the first quarter. KCG Holdings Inc. now owns 143,471 shares of the biotechnology company’s stock valued at $354,000 after buying an additional 59,452 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Idera Pharmaceuticals during the first quarter valued at $222,000. Institutional investors and hedge funds own 30.96% of the company’s stock.
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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