Idera Pharmaceuticals (NASDAQ:IDRA) Now Covered by StockNews.com

StockNews.com began coverage on shares of Idera Pharmaceuticals (NASDAQ:IDRAGet Rating) in a research report issued on Wednesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

NASDAQ:IDRA opened at $0.46 on Wednesday. Idera Pharmaceuticals has a twelve month low of $0.30 and a twelve month high of $1.39. The company has a 50-day moving average of $0.50 and a 200-day moving average of $0.54. The firm has a market cap of $24.16 million, a price-to-earnings ratio of -1.09 and a beta of 1.50.

Idera Pharmaceuticals (NASDAQ:IDRAGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.08) earnings per share for the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Idera Pharmaceuticals in the first quarter worth approximately $27,000. Acadian Asset Management LLC lifted its position in shares of Idera Pharmaceuticals by 27.6% in the fourth quarter. Acadian Asset Management LLC now owns 506,381 shares of the biotechnology company’s stock worth $287,000 after purchasing an additional 109,462 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Idera Pharmaceuticals by 32.8% in the third quarter. Two Sigma Advisers LP now owns 795,871 shares of the biotechnology company’s stock worth $820,000 after purchasing an additional 196,400 shares in the last quarter. 12.18% of the stock is owned by institutional investors and hedge funds.

About Idera Pharmaceuticals (Get Rating)

Idera Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for rare disease indications in the United States. It offers Tilsotolimod (IMO-2125), a synthetic phosphorothioate oligonucleotide that acts as a direct agonist of TLR9 to stimulate the immune systems and for treating solid tumors, squamous cell carcinoma of the head and neck, and colorectal cancer.

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