Wall Street brokerages expect Idera Pharmaceuticals Inc (NASDAQ:IDRA) to post earnings of ($0.56) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Idera Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.64) and the highest estimate coming in at ($0.40). Idera Pharmaceuticals reported earnings of ($0.80) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 30%. The firm is scheduled to report its next earnings results on Monday, November 5th.
According to Zacks, analysts expect that Idera Pharmaceuticals will report full year earnings of ($2.58) per share for the current year, with EPS estimates ranging from ($2.71) to ($2.44). For the next financial year, analysts anticipate that the business will report earnings of ($2.56) per share, with EPS estimates ranging from ($3.36) to ($1.99). Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Idera Pharmaceuticals.
Idera Pharmaceuticals (NASDAQ:IDRA) last issued its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.82) by $0.23. Idera Pharmaceuticals had a negative return on equity of 74.17% and a negative net margin of 8,686.36%. The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.18 million.
Several brokerages have recently issued reports on IDRA. BidaskClub lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, June 22nd. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Idera Pharmaceuticals in a research note on Thursday, May 10th. Zacks Investment Research upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. JMP Securities decreased their price target on Idera Pharmaceuticals from $64.00 to $32.00 and set a “positive” rating on the stock in a research note on Wednesday, June 13th. Finally, Robert W. Baird reduced their price objective on Idera Pharmaceuticals from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Idera Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $22.79.
Shares of IDRA opened at $8.59 on Tuesday. Idera Pharmaceuticals has a 52-week low of $5.20 and a 52-week high of $22.96. The firm has a market capitalization of $239.13 million, a PE ratio of -2.56 and a beta of 1.34.
In related news, major shareholder Invest Corp Pillar sold 250,500 shares of the business’s stock in a transaction on Friday, July 13th. The stock was sold at an average price of $1.05, for a total transaction of $263,025.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James A. Geraghty acquired 10,000 shares of Idera Pharmaceuticals stock in a transaction that occurred on Tuesday, August 7th. The shares were purchased at an average price of $5.58 per share, for a total transaction of $55,800.00. The disclosure for this purchase can be found here. Insiders have sold a total of 5,106,736 shares of company stock worth $5,805,439 in the last 90 days. 20.48% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Berson & Corrado Investment Advisors LLC lifted its holdings in Idera Pharmaceuticals by 69.2% during the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 104,850 shares of the biotechnology company’s stock worth $138,000 after buying an additional 42,900 shares during the period. MetLife Investment Advisors LLC acquired a new position in Idera Pharmaceuticals during the 4th quarter worth about $155,000. GSA Capital Partners LLP acquired a new position in Idera Pharmaceuticals during the 2nd quarter worth about $179,000. Rhumbline Advisers lifted its holdings in Idera Pharmaceuticals by 20.3% during the 2nd quarter. Rhumbline Advisers now owns 145,144 shares of the biotechnology company’s stock worth $192,000 after buying an additional 24,461 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in Idera Pharmaceuticals by 41.3% during the 1st quarter. New York State Common Retirement Fund now owns 136,100 shares of the biotechnology company’s stock worth $250,000 after buying an additional 39,800 shares during the period.
Idera Pharmaceuticals Company Profile
Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of oligonucleotide therapeutics for oncology and rare diseases in the United States. The company uses two drug discovery technology platforms to design and develop drug candidates, including toll-like receptor targeting technology and nucleic acid chemistry technology.
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