Wall Street brokerages expect that Idera Pharmaceuticals Inc (NASDAQ:IDRA) will report earnings per share (EPS) of ($0.33) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Idera Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.41) and the highest is ($0.21). Idera Pharmaceuticals reported earnings per share of ($0.45) in the same quarter last year, which indicates a positive year over year growth rate of 26.7%. The company is expected to announce its next earnings results on Wednesday, March 4th.
According to Zacks, analysts expect that Idera Pharmaceuticals will report full-year earnings of ($1.48) per share for the current financial year, with EPS estimates ranging from ($1.59) to ($1.28). For the next fiscal year, analysts expect that the business will post earnings of ($1.20) per share, with EPS estimates ranging from ($1.79) to ($0.70). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Idera Pharmaceuticals.
Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.07.
A number of brokerages have recently issued reports on IDRA. Zacks Investment Research raised Idera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research report on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating on shares of Idera Pharmaceuticals in a report on Thursday, November 7th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $7.00 price target on shares of Idera Pharmaceuticals in a research report on Thursday, September 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Idera Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $7.69.
Shares of IDRA traded down $0.06 during trading hours on Thursday, hitting $1.75. 159,400 shares of the company were exchanged, compared to its average volume of 268,460. The company has a market capitalization of $51.10 million, a PE ratio of -0.77 and a beta of 2.20. The firm has a fifty day simple moving average of $2.30 and a 200-day simple moving average of $2.54. Idera Pharmaceuticals has a one year low of $1.67 and a one year high of $7.00.
In other news, major shareholder Invest Corp Pillar sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $2.50, for a total transaction of $250,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.46% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC grew its position in Idera Pharmaceuticals by 90.8% during the 3rd quarter. Millennium Management LLC now owns 942,136 shares of the biotechnology company’s stock worth $2,722,000 after purchasing an additional 448,442 shares in the last quarter. Natixis boosted its position in Idera Pharmaceuticals by 61.7% during the 2nd quarter. Natixis now owns 743,618 shares of the biotechnology company’s stock worth $1,985,000 after acquiring an additional 283,802 shares during the period. Acadian Asset Management LLC boosted its position in Idera Pharmaceuticals by 273.5% during the 2nd quarter. Acadian Asset Management LLC now owns 165,044 shares of the biotechnology company’s stock worth $440,000 after acquiring an additional 120,861 shares during the period. Jane Street Group LLC purchased a new position in Idera Pharmaceuticals during the 2nd quarter valued at about $237,000. Finally, Paloma Partners Management Co purchased a new position in Idera Pharmaceuticals during the 2nd quarter valued at about $228,000. 32.69% of the stock is owned by hedge funds and other 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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