HC Wainwright began coverage on shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $4.00 price target on the biotechnology company’s stock.

IDRA has been the topic of a number of other research reports. Zacks Investment Research raised Idera Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, October 11th. ValuEngine downgraded Idera Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, August 2nd. Piper Jaffray Companies reissued a buy rating and issued a $4.00 price target on shares of Idera Pharmaceuticals in a report on Tuesday, September 12th. Finally, BidaskClub downgraded Idera Pharmaceuticals from a hold rating to a sell rating in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $4.83.

Idera Pharmaceuticals (NASDAQ:IDRA) traded up $0.09 during trading hours on Thursday, reaching $2.11. The company’s stock had a trading volume of 3,794,700 shares, compared to its average volume of 4,130,405. Idera Pharmaceuticals has a 52 week low of $1.30 and a 52 week high of $2.87.

Idera Pharmaceuticals (NASDAQ:IDRA) last released its earnings results on Monday, November 6th. The biotechnology company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Idera Pharmaceuticals had a negative return on equity of 60.80% and a negative net margin of 313.78%. The company had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.20 million. sell-side analysts expect that Idera Pharmaceuticals will post -0.43 earnings per share for the current year.

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In related news, Director Bros. Advisors Lp Baker purchased 8,000,000 shares of the business’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 document filed with the SEC, which is available at this hyperlink. Company insiders own 30.29% of the company’s stock.

A number of institutional investors have recently made changes to their positions in IDRA. Nationwide Fund Advisors raised its stake in Idera Pharmaceuticals by 7.3% during the 1st quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock valued at $154,000 after acquiring an additional 4,235 shares in the last quarter. Wells Fargo & Company MN raised its stake in Idera Pharmaceuticals by 5.8% during the 1st quarter. Wells Fargo & Company MN now owns 91,479 shares of the biotechnology company’s stock valued at $226,000 after acquiring an additional 5,000 shares in the last quarter. American International Group Inc. raised its stake in Idera Pharmaceuticals by 8.2% during the 1st quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 4,214 shares in the last quarter. FMR LLC raised its stake in Idera Pharmaceuticals by 25.6% during 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 in the last quarter. Finally, Vanguard Group Inc. raised its stake in Idera Pharmaceuticals by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 5,007,333 shares of the biotechnology company’s stock valued at $12,368,000 after acquiring an additional 159,828 shares in the last quarter. 25.28% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Idera Pharmaceuticals (NASDAQ:IDRA)

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