Idera Pharmaceuticals, Inc. (IDRA) Releases Earnings Results, Beats Estimates By $0.02 EPS
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) released its quarterly earnings results on Monday. The biotechnology company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.02, Bloomberg Earnings reports. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%. The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.20 million.
Shares of Idera Pharmaceuticals (NASDAQ:IDRA) traded up $0.07 during mid-day trading on Tuesday, reaching $1.81. 3,018,682 shares of the company were exchanged, compared to its average volume of 2,890,000. Idera Pharmaceuticals has a fifty-two week low of $1.30 and a fifty-two week high of $2.87.
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A number of research firms have recently commented on IDRA. ValuEngine raised shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Zacks Investment Research raised shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $4.00 target price on shares of Idera Pharmaceuticals in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Idera Pharmaceuticals presently has an average rating of “Hold” and an average target price of $5.75.
In related news, Director Bros. Advisors Lp Baker bought 8,000,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were acquired at an average price of $1.50 per share, with a total value of $12,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 30.29% of the company’s stock.
A hedge fund recently raised its stake in Idera Pharmaceuticals stock. The Manufacturers Life Insurance Company raised its holdings in Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,976 shares of the biotechnology company’s stock after buying an additional 6,316 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Idera Pharmaceuticals worth $164,000 as of its most recent SEC filing. 25.28% of the stock is currently owned by hedge funds and other institutional investors.
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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