Bank of New York Mellon Corp reduced its position in Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 341,393 shares of the biotechnology company’s stock after selling 13,127 shares during the period. Bank of New York Mellon Corp owned approximately 0.23% of Idera Pharmaceuticals worth $844,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Idera Pharmaceuticals during the fourth quarter worth about $450,000. State Street Corp raised its position in shares of Idera Pharmaceuticals by 11.7% in the fourth quarter. State Street Corp now owns 1,553,323 shares of the biotechnology company’s stock valued at $2,330,000 after buying an additional 162,173 shares during the period. Nationwide Fund Advisors raised its position in Idera Pharmaceuticals by 7.3% in the first quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock worth $154,000 after buying an additional 4,235 shares during the last quarter. FMR LLC raised its position in Idera Pharmaceuticals by 10,453.4% in the fourth quarter. FMR LLC now owns 2,511,700 shares of the biotechnology company’s stock worth $3,768,000 after buying an additional 2,487,900 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Idera Pharmaceuticals by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 154,886 shares of the biotechnology company’s stock worth $232,000 after buying an additional 14,205 shares during the last quarter. Institutional investors own 31.30% of the company’s stock.
Idera Pharmaceuticals, Inc. (IDRA) opened at 1.82 on Thursday. Idera Pharmaceuticals, Inc. has a one year low of $1.30 and a one year high of $3.33. The company’s 50-day moving average is $1.84 and its 200-day moving average is $1.88. The firm’s market cap is $271.45 million.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $0.19 million for the quarter, compared to the consensus estimate of $0.20 million. Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%. On average, analysts forecast that Idera Pharmaceuticals, Inc. will post ($0.48) earnings per share for the current fiscal year.
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Several analysts have issued reports on IDRA shares. Zacks Investment Research upgraded shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. BidaskClub downgraded shares of Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. ValuEngine raised shares of Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Robert W. Baird began coverage on shares of Idera Pharmaceuticals in a report on Monday, April 24th. They set an “outperform” rating and a $5.00 price target for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.57.
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.
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