Idera Pharmaceuticals Inc. (NASDAQ:IDRA) – Analysts at Wedbush upped their FY2019 EPS estimates for Idera Pharmaceuticals in a research note issued on Monday. Wedbush analyst H. Behanna now anticipates that the brokerage will post earnings per share of ($0.39) for the year, up from their prior forecast of ($0.58). Wedbush has a “Outperform” rating and a $6.00 price objective on the stock. Wedbush also issued estimates for Idera Pharmaceuticals’ FY2020 earnings at ($0.28) EPS.
Separately, Zacks Investment Research lowered Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th.
Idera Pharmaceuticals (NASDAQ:IDRA) traded up 10.82% during trading on Wednesday, reaching $2.56. 2,444,794 shares of the company’s stock were exchanged. Idera Pharmaceuticals has a 12 month low of $1.19 and a 12 month high of $4.42. The stock’s market cap is $310.73 million. The firm has a 50 day moving average of $2.12 and a 200-day moving average of $1.80.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.11) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.11). Idera Pharmaceuticals had a negative net margin of 6,169.32% and a negative return on equity of 64.09%.
A number of hedge funds have recently made changes to their positions in IDRA. Alliancebernstein L.P. raised its stake in shares of Idera Pharmaceuticals by 19.8% in the second quarter. Alliancebernstein L.P. now owns 66,600 shares of the company’s stock worth $102,000 after buying an additional 11,000 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Idera Pharmaceuticals by 1.0% in the second quarter. Rhumbline Advisers now owns 88,364 shares of the company’s stock worth $135,000 after buying an additional 860 shares during the last quarter. Creative Planning raised its stake in shares of Idera Pharmaceuticals by 11.8% in the second quarter. Creative Planning now owns 121,300 shares of the company’s stock worth $186,000 after buying an additional 12,800 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Idera Pharmaceuticals by 1.9% in the second quarter. California State Teachers Retirement System now owns 186,693 shares of the company’s stock worth $286,000 after buying an additional 3,478 shares during the last quarter. Finally, BlackRock Investment Management LLC raised its stake in shares of Idera Pharmaceuticals by 7.3% in the second quarter. BlackRock Investment Management LLC now owns 334,389 shares of the company’s stock worth $512,000 after buying an additional 22,791 shares during the last quarter. 28.44% of the stock is owned by institutional investors.
Idera Pharmaceuticals Company Profile
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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