Idera Pharmaceuticals (NASDAQ:IDRA) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Idera Pharmaceuticals (NASDAQ:IDRA – Get Rating) in a research note published on Saturday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

NASDAQ IDRA opened at $0.53 on Friday. The stock has a market capitalization of $28.27 million, a PE ratio of -1.27 and a beta of 1.55. Idera Pharmaceuticals has a 1 year low of $0.30 and a 1 year high of $1.71. The business’s 50-day moving average is $0.47 and its 200 day moving average is $0.56.

Idera Pharmaceuticals (NASDAQ:IDRA – Get Rating) last posted its earnings results on Thursday, May 5th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP grew its stake in shares of Idera Pharmaceuticals by 32.8% in the third quarter. Two Sigma Advisers LP now owns 795,871 shares of the biotechnology company’s stock worth $820,000 after purchasing an additional 196,400 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Idera Pharmaceuticals by 27.6% in the fourth quarter. Acadian Asset Management LLC now owns 506,381 shares of the biotechnology company’s stock worth $287,000 after buying an additional 109,462 shares during the period. Geode Capital Management LLC lifted its holdings in Idera Pharmaceuticals by 16.4% in the third quarter. Geode Capital Management LLC now owns 373,483 shares of the biotechnology company’s stock worth $384,000 after buying an additional 52,633 shares during the period. Renaissance Technologies LLC purchased a new stake in Idera Pharmaceuticals in the third quarter worth about $280,000. Finally, Two Sigma Investments LP lifted its holdings in Idera Pharmaceuticals by 202.3% in the third quarter. Two Sigma Investments LP now owns 265,850 shares of the biotechnology company’s stock worth $274,000 after buying an additional 177,900 shares during the period. 12.18% of the stock is currently owned by institutional investors.

About Idera Pharmaceuticals (Get Rating)

Idera Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for rare disease indications in the United States. It offers Tilsotolimod (IMO-2125), a synthetic phosphorothioate oligonucleotide that acts as a direct agonist of TLR9 to stimulate the immune systems and for treating solid tumors, squamous cell carcinoma of the head and neck, and colorectal cancer.

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