IDRA has been the topic of several other research reports. Zacks Investment Research lowered shares of Idera Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, January 8th. HC Wainwright reiterated a buy rating and issued a $9.00 target price on shares of Idera Pharmaceuticals in a research report on Friday, March 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Idera Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $6.25.
Shares of NASDAQ IDRA traded up $0.03 during trading on Thursday, hitting $1.26. The company had a trading volume of 53,300 shares, compared to its average volume of 178,582. The stock has a fifty day simple moving average of $1.44 and a two-hundred day simple moving average of $1.96. Idera Pharmaceuticals has a fifty-two week low of $0.81 and a fifty-two week high of $4.19. The firm has a market capitalization of $39.33 million, a price-to-earnings ratio of -0.43 and a beta of 1.90.
In related news, major shareholder Invest Corp Pillar sold 17,250 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $1.76, for a total transaction of $30,360.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 41,127 shares of company stock worth $72,711 over the last 90 days. 3.46% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of IDRA. Wedbush Securities Inc. purchased a new position in Idera Pharmaceuticals during the fourth quarter worth about $30,000. Tower Research Capital LLC TRC raised its stake in Idera Pharmaceuticals by 83.9% during the third quarter. Tower Research Capital LLC TRC now owns 13,544 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 6,179 shares during the period. Virtu Financial LLC purchased a new position in Idera Pharmaceuticals during the fourth quarter worth about $40,000. DCF Advisers LLC purchased a new position in Idera Pharmaceuticals during the fourth quarter worth about $93,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Idera Pharmaceuticals during the fourth quarter worth about $286,000. 29.62% of the stock is currently owned by institutional investors.
Idera Pharmaceuticals Company Profile
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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