Idera Pharmaceuticals, Inc. (IDRA) Releases Earnings Results, Misses Expectations By $0.03 EPS

Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) issued its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03, Bloomberg Earnings reports. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%. The firm had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.20 million.

Idera Pharmaceuticals (NASDAQ IDRA) traded up 1.17% during mid-day trading on Friday, reaching $1.73. The company had a trading volume of 1,011,897 shares. The stock’s market capitalization is $258.86 million. Idera Pharmaceuticals has a 12-month low of $1.30 and a 12-month high of $3.33. The stock has a 50 day moving average price of $1.83 and a 200-day moving average price of $1.89.

A hedge fund recently raised its stake in Idera Pharmaceuticals stock. The Manufacturers Life Insurance Company boosted its position in Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) by 7.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,976 shares of the biotechnology company’s stock after buying an additional 6,316 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Idera Pharmaceuticals worth $164,000 at the end of the most recent quarter. 31.37% of the stock is owned by institutional investors.

Several analysts have recently issued reports on IDRA shares. Robert W. Baird started coverage on Idera Pharmaceuticals in a report on Monday, April 24th. They set an “outperform” rating and a $5.00 target price on the stock. Zacks Investment Research lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, May 5th. ValuEngine lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, BidaskClub lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Three analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Idera Pharmaceuticals has an average rating of “Hold” and an average target price of $4.57.

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About Idera Pharmaceuticals

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.

Earnings History for Idera Pharmaceuticals (NASDAQ:IDRA)

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