Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 3,061,046 shares, a decrease of 64.5% from the October 13th total of 8,614,115 shares. Based on an average daily volume of 4,261,874 shares, the short-interest ratio is presently 0.7 days. Currently, 2.0% of the company’s stock are short sold.

Several brokerages have recently issued reports on IDRA. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a report on Thursday, November 9th. HC Wainwright began coverage on shares of Idera Pharmaceuticals in a report on Thursday, November 9th. They issued a “buy” rating and a $4.00 target price for the company. Piper Jaffray Companies restated a “buy” rating and issued a $4.00 target price on shares of Idera Pharmaceuticals in a report on Tuesday, September 12th. BidaskClub cut shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, ValuEngine cut shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. Idera Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $4.83.

In other news, Director Bros. Advisors Lp Baker acquired 8,000,000 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were bought at an average cost of $1.50 per share, with a total value of $12,000,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 30.29% of the company’s stock.

A number of large investors have recently modified their holdings of IDRA. Tudor Investment Corp ET AL boosted its stake in Idera Pharmaceuticals by 48.8% during the 1st quarter. Tudor Investment Corp ET AL now owns 41,360 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 13,572 shares during the period. State of Wisconsin Investment Board acquired a new stake in shares of Idera Pharmaceuticals in the 2nd quarter worth $136,000. American International Group Inc. lifted its stake in shares of Idera Pharmaceuticals by 8.2% in the 1st quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock worth $137,000 after acquiring an additional 4,214 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Idera Pharmaceuticals by 16.3% in the 2nd quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock worth $155,000 after acquiring an additional 12,600 shares during the period. Finally, Wedbush Securities Inc. lifted its stake in shares of Idera Pharmaceuticals by 3.0% in the 2nd quarter. Wedbush Securities Inc. now owns 93,428 shares of the biotechnology company’s stock worth $161,000 after acquiring an additional 2,700 shares during the period. Hedge funds and other institutional investors own 23.73% of the company’s stock.

Shares of Idera Pharmaceuticals (NASDAQ:IDRA) opened at $2.09 on Wednesday. Idera Pharmaceuticals has a 52 week low of $1.30 and a 52 week high of $2.87.

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

ILLEGAL ACTIVITY WARNING: “Idera Pharmaceuticals, Inc. (IDRA) Short Interest Down 64.5% in October” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another domain, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/11/15/idera-pharmaceuticals-inc-idra-short-interest-down-64-5-in-october.html.

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.

Receive News & Stock Ratings for Idera Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Idera Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.