Sphera Funds Management LTD. Invests $3.97 Million in Idera Pharmaceuticals Inc (IDRA)

Sphera Funds Management LTD. acquired a new position in shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 445,558 shares of the biotechnology company’s stock, valued at approximately $3,970,000.

Other large investors have also bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Idera Pharmaceuticals during the third quarter worth about $132,000. GSA Capital Partners LLP bought a new stake in Idera Pharmaceuticals during the second quarter worth about $179,000. Rhumbline Advisers boosted its stake in Idera Pharmaceuticals by 20.3% during the second quarter. Rhumbline Advisers now owns 145,144 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 24,461 shares in the last quarter. California Public Employees Retirement System boosted its stake in Idera Pharmaceuticals by 20.9% during the second quarter. California Public Employees Retirement System now owns 194,217 shares of the biotechnology company’s stock worth $256,000 after acquiring an additional 33,617 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in Idera Pharmaceuticals during the second quarter worth about $416,000. 43.46% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the stock. ValuEngine lowered shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. JPMorgan Chase & Co. assumed coverage on shares of Idera Pharmaceuticals in a research note on Wednesday, August 15th. They set an “overweight” rating and a $15.00 price objective on the stock. Zacks Investment Research lowered shares of Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Barclays assumed coverage on shares of Idera Pharmaceuticals in a research note on Monday, September 24th. They set an “overweight” rating and a $14.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Idera Pharmaceuticals in a research note on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. Idera Pharmaceuticals has an average rating of “Buy” and a consensus target price of $20.71.

NASDAQ:IDRA opened at $6.06 on Friday. Idera Pharmaceuticals Inc has a one year low of $5.20 and a one year high of $20.40.

Idera Pharmaceuticals (NASDAQ:IDRA) last issued its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.15. The firm had revenue of $0.15 million for the quarter, compared to the consensus estimate of $2.09 million. Idera Pharmaceuticals had a negative net margin of 8,513.18% and a negative return on equity of 69.28%. As a group, research analysts expect that Idera Pharmaceuticals Inc will post -2.34 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Sphera Funds Management LTD. Invests $3.97 Million in Idera Pharmaceuticals Inc (IDRA)” was originally posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://www.com-unik.info/2018/12/08/sphera-funds-management-ltd-invests-3-97-million-in-idera-pharmaceuticals-inc-idra.html.

About Idera Pharmaceuticals

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.

Further Reading: How much money do you need to begin day trading?

Want to see what other hedge funds are holding IDRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Idera Pharmaceuticals Inc (NASDAQ:IDRA).

Institutional Ownership by Quarter for Idera Pharmaceuticals (NASDAQ:IDRA)

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

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit