Brokerages Anticipate Idera Pharmaceuticals Inc (IDRA) Will Announce Earnings of -$0.49 Per Share

Brokerages expect that Idera Pharmaceuticals Inc (NASDAQ:IDRA) will announce earnings of ($0.49) per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Idera Pharmaceuticals’ earnings. The highest EPS estimate is ($0.45) and the lowest is ($0.56). Idera Pharmaceuticals reported earnings per share of ($0.64) in the same quarter last year, which suggests a positive year-over-year growth rate of 23.4%. The firm is expected to announce its next quarterly earnings results on Wednesday, March 6th.

According to Zacks, analysts expect that Idera Pharmaceuticals will report full-year earnings of ($2.31) per share for the current year, with EPS estimates ranging from ($2.37) to ($2.25). For the next year, analysts anticipate that the firm will report earnings of ($1.90) per share, with EPS estimates ranging from ($2.49) to ($1.50). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Idera Pharmaceuticals.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.43) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.15. The business had revenue of $0.15 million for the quarter, compared to analyst estimates of $2.09 million. Idera Pharmaceuticals had a negative return on equity of 69.28% and a negative net margin of 8,513.18%.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Idera Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research note on Saturday, November 10th. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Idera Pharmaceuticals in a research note on Monday, August 6th. ValuEngine lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. JPMorgan Chase & Co. assumed coverage on Idera Pharmaceuticals in a research note on Wednesday, August 15th. They issued an “overweight” rating and a $15.00 target price on the stock. Finally, Barclays assumed coverage on Idera Pharmaceuticals in a research note on Monday, September 24th. They issued an “overweight” rating and a $14.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. Idera Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $20.71.

Shares of IDRA traded up $0.17 during mid-day trading on Tuesday, hitting $6.87. The stock had a trading volume of 118,686 shares, compared to its average volume of 212,678. Idera Pharmaceuticals has a 52 week low of $5.20 and a 52 week high of $20.40.

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC bought a new stake in shares of Idera Pharmaceuticals in the third quarter valued at $132,000. GSA Capital Partners LLP bought a new stake in shares of Idera Pharmaceuticals in the second quarter valued at $179,000. Rhumbline Advisers raised its stake in shares of Idera Pharmaceuticals by 20.3% in the second quarter. Rhumbline Advisers now owns 145,144 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 24,461 shares during the period. California Public Employees Retirement System raised its stake in shares of Idera Pharmaceuticals by 20.9% in the second quarter. California Public Employees Retirement System now owns 194,217 shares of the biotechnology company’s stock valued at $256,000 after buying an additional 33,617 shares during the period. Finally, Candriam Luxembourg S.C.A. bought a new stake in shares of Idera Pharmaceuticals in the third quarter valued at $1,737,000.

Idera Pharmaceuticals Company Profile

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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