Wall Street analysts expect Idera Pharmaceuticals Inc (NASDAQ:IDRA) to announce earnings of ($0.61) per share for the current quarter, according to Zacks. Two analysts have issued estimates for Idera Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.67) and the highest is ($0.56). Idera Pharmaceuticals posted earnings per share of ($0.64) during the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The business is expected to issue its next earnings report on Wednesday, March 6th.
On average, analysts expect that Idera Pharmaceuticals will report full-year earnings of ($2.54) per share for the current year, with EPS estimates ranging from ($2.69) to ($2.44). For the next fiscal year, analysts expect that the business will report earnings of ($2.48) per share, with EPS estimates ranging from ($3.36) to ($1.99). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Idera Pharmaceuticals.
Idera Pharmaceuticals (NASDAQ:IDRA) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.15. Idera Pharmaceuticals had a negative return on equity of 65.30% and a negative net margin of 8,513.18%. The company had revenue of $0.15 million for the quarter, compared to the consensus estimate of $2.09 million.
Several equities analysts have commented on IDRA shares. Wedbush lowered their price target on Idera Pharmaceuticals from $40.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, July 16th. Zacks Investment Research downgraded Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. ValuEngine upgraded Idera Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, July 30th. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Idera Pharmaceuticals in a report on Monday, August 6th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Idera Pharmaceuticals in a research note on Wednesday, August 15th. They issued an “overweight” rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $20.21.
IDRA stock traded down $0.48 during midday trading on Friday, hitting $8.39. 12,033 shares of the company traded hands, compared to its average volume of 206,344. Idera Pharmaceuticals has a twelve month low of $5.20 and a twelve month high of $20.40. The company has a market cap of $195.92 million, a PE ratio of -2.56 and a beta of 2.66.
Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Idera Pharmaceuticals by 20.3% in the second quarter. Rhumbline Advisers now owns 145,144 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 24,461 shares during the last quarter. Millennium Management LLC grew its stake in shares of Idera Pharmaceuticals by 25.8% in the first quarter. Millennium Management LLC now owns 4,848,557 shares of the biotechnology company’s stock worth $8,921,000 after acquiring an additional 994,232 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Idera Pharmaceuticals in the second quarter worth $179,000. Berson & Corrado Investment Advisors LLC grew its stake in shares of Idera Pharmaceuticals by 69.2% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 104,850 shares of the biotechnology company’s stock worth $138,000 after acquiring an additional 42,900 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Idera Pharmaceuticals by 11.7% in the second quarter. BlackRock Inc. now owns 10,043,638 shares of the biotechnology company’s stock worth $13,257,000 after acquiring an additional 1,048,482 shares during the last quarter.
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.
Further Reading: How is Preferred Stock Different from Common Stock?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Idera Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Idera Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.