Shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) traded up NaN on Thursday . The company traded as high as $1.75 and last traded at $0.00. 4,596,381 shares traded hands during mid-day trading, an increase of Infinity from the average session volume of 0 shares.
A number of equities analysts have commented on IDRA shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $4.00 price target on shares of Idera Pharmaceuticals in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. ValuEngine upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, BidaskClub downgraded shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.75.
Idera Pharmaceuticals (NASDAQ:IDRA) last issued its earnings results on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Idera Pharmaceuticals had a negative return on equity of 61.09% and a negative net margin of 300.63%. The company had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.20 million. sell-side analysts anticipate that Idera Pharmaceuticals, Inc. will post -0.49 EPS for the current year.
In other news, Director Bros. Advisors Lp Baker bought 8,000,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was bought at an average cost of $1.50 per share, for a total transaction of $12,000,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 30.29% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL lifted its stake in Idera Pharmaceuticals by 48.8% during the first 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 last quarter. State of Wisconsin Investment Board acquired a new position in Idera Pharmaceuticals during the second quarter worth approximately $136,000. American International Group Inc. increased its position in Idera Pharmaceuticals by 8.2% during the first quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock worth $137,000 after buying an additional 4,214 shares during the period. Nationwide Fund Advisors increased its position in Idera Pharmaceuticals by 7.3% during the first quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock worth $154,000 after buying an additional 4,235 shares during the period. Finally, Alliancebernstein L.P. increased its position in Idera Pharmaceuticals by 16.3% during the second quarter. Alliancebernstein L.P. now owns 89,900 shares of the biotechnology company’s stock worth $155,000 after buying an additional 12,600 shares during the period. Hedge funds and other institutional investors own 30.93% of the company’s stock.
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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