Idera Pharmaceuticals Inc (NASDAQ:IDRA) was down 21.9% during trading on Monday . The company traded as low as $6.11 and last traded at $7.69. Approximately 34,877 shares traded hands during trading, a decline of 93% from the average daily volume of 494,083 shares. The stock had previously closed at $6.31.

A number of equities research analysts recently commented on IDRA shares. Zacks Investment Research upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Robert W. Baird decreased their price target on Idera Pharmaceuticals from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 13th. BidaskClub upgraded Idera Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. JMP Securities decreased their price target on Idera Pharmaceuticals from $64.00 to $32.00 and set a “positive” rating on the stock in a research report on Wednesday, June 13th. Finally, HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Idera Pharmaceuticals in a research report on Thursday, May 10th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $24.08.

The firm has a market capitalization of $169.84 million, a PE ratio of -1.91 and a beta of 1.34.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.23. Idera Pharmaceuticals had a negative return on equity of 74.17% and a negative net margin of 8,686.36%. The firm had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.18 million. analysts forecast that Idera Pharmaceuticals Inc will post -2.63 EPS for the current year.

In other news, major shareholder Invest Corp Pillar sold 250,500 shares of the stock in a transaction on Friday, July 13th. The stock was sold at an average price of $1.05, for a total value of $263,025.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James A. Geraghty purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was bought at an average cost of $5.58 per share, for a total transaction of $55,800.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 4,884,843 shares of company stock worth $4,527,676. Company insiders own 20.48% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Idera Pharmaceuticals by 38.1% in the 4th quarter. BlackRock Inc. now owns 9,005,243 shares of the biotechnology company’s stock valued at $19,000,000 after purchasing an additional 2,486,098 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Idera Pharmaceuticals by 58.9% in the 4th quarter. TIAA CREF Investment Management LLC now owns 431,401 shares of the biotechnology company’s stock valued at $910,000 after purchasing an additional 159,986 shares during the period. Artal Group S.A. acquired a new position in shares of Idera Pharmaceuticals in the 1st quarter valued at $5,060,000. New York State Common Retirement Fund lifted its stake in shares of Idera Pharmaceuticals by 41.3% in the 1st quarter. New York State Common Retirement Fund now owns 136,100 shares of the biotechnology company’s stock valued at $250,000 after purchasing an additional 39,800 shares during the period. Finally, Teachers Advisors LLC lifted its stake in shares of Idera Pharmaceuticals by 29.7% in the 4th quarter. Teachers Advisors LLC now owns 263,412 shares of the biotechnology company’s stock valued at $556,000 after purchasing an additional 60,355 shares during the period.

About Idera Pharmaceuticals (NASDAQ:IDRA)

Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of oligonucleotide therapeutics for oncology and rare diseases in the United States. The company uses two drug discovery technology platforms to design and develop drug candidates, including toll-like receptor targeting technology and nucleic acid chemistry technology.

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