Idera Pharmaceuticals Inc (NASDAQ:IDRA)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.75 and traded as high as $2.00. Idera Pharmaceuticals shares last traded at $1.99, with a volume of 140,812 shares changing hands.
IDRA has been the subject of a number of research reports. ValuEngine upgraded Idera Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Wedbush reiterated an “outperform” rating on shares of Idera Pharmaceuticals in a research report on Tuesday, May 5th. Zacks Investment Research lowered Idera Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Idera Pharmaceuticals in a research report on Monday, April 27th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $6.25.
The stock has a 50-day moving average of $1.96 and a 200 day moving average of $1.75.
Idera Pharmaceuticals (NASDAQ:IDRA) last issued its earnings results on Thursday, April 30th. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.06). As a group, equities research analysts expect that Idera Pharmaceuticals Inc will post -1.32 EPS for the current fiscal year.
In related news, major shareholder Invest Corp Pillar bought 749,993 shares of Idera Pharmaceuticals stock in a transaction on Monday, July 13th. The shares were purchased at an average price of $1.72 per share, for a total transaction of $1,289,987.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of IDRA. Aperio Group LLC bought a new position in Idera Pharmaceuticals during the first quarter worth about $27,000. Wedbush Securities Inc. bought a new position in Idera Pharmaceuticals during the second quarter worth about $45,000. DCF Advisers LLC lifted its holdings in shares of Idera Pharmaceuticals by 109.9% during the 1st quarter. DCF Advisers LLC now owns 107,181 shares of the biotechnology company’s stock valued at $141,000 after purchasing an additional 56,130 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Idera Pharmaceuticals by 61.2% during the 4th quarter. Renaissance Technologies LLC now owns 545,037 shares of the biotechnology company’s stock valued at $992,000 after purchasing an additional 207,012 shares in the last quarter. Hedge funds and other institutional investors own 25.66% of the company’s stock.
About Idera Pharmaceuticals (NASDAQ:IDRA)
Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for oncology in the United States. It offers Tilsotolimod, a synthetic phosphorothioate oligonucleotide that acts as a direct agonist of TLR9 to stimulate the immune systems and for treating solid tumors, metastatic melanoma, squamous cell carcinoma, and colorectal cancer.
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