The stock of Idera Pharmaceuticals Inc (NASDAQ:IDRA) is a huge mover today! About 2.00 million shares traded hands or 68.07% up from the average. Idera Pharmaceuticals Inc (NASDAQ:IDRA) has risen 28.57% since March 3, 2016 and is uptrending. It has outperformed by 20.23% the S&P500.
The move comes after 5 months negative chart setup for the $276.94M company. It was reported on Oct, 6 by Barchart.com. We have $1.96 PT which if reached, will make NASDAQ:IDRA worth $33.23M less.
Analysts await Idera Pharmaceuticals Inc (NASDAQ:IDRA) to report earnings on November, 4. They expect $-0.12 EPS, down 20.00% or $0.02 from last year’s $-0.1 per share. After $-0.11 actual EPS reported by Idera Pharmaceuticals Inc for the previous quarter, Wall Street now forecasts 9.09% negative EPS growth.
According to Zacks Investment Research, “Idera Pharmaceuticals, Inc. is a drug discovery and development company that is developing drug candidates to treat cancer and infectious, respiratory, and autoimmune diseases, and for use in combination with therapeutic and prophylactic vaccines. Idera’s proprietary drug candidates are designed to modulate Toll-like Receptors, the body’s first line of immune defense. Idera’s pioneering DNA chemistry expertise enables it to identify drug candidates for internal development and creates opportunities for multiple collaborative alliances.”
Insitutional Activity: The institutional sentiment increased to 1.25 in 2016 Q2. Its up 0.22, from 1.03 in 2016Q1. The ratio improved, as 9 funds sold all Idera Pharmaceuticals Inc shares owned while 15 reduced positions. 3 funds bought stakes while 27 increased positions. They now own 34.46 million shares or 16.20% less from 41.12 million shares in 2016Q1.
Blackrock Advsr Lc last reported 40,602 shares in the company. Blackrock Mngmt Ltd Liability Co accumulated 334,389 shares or 0% of the stock. Blackrock Inc accumulated 8,400 shares or 0% of the stock. The Pennsylvania-based Glenmede Trust Na has invested 0% in Idera Pharmaceuticals Inc (NASDAQ:IDRA). Vanguard Gru has 0% invested in the company for 3.58 million shares. Moreover, Retail Bank Of America Corp De has 0% invested in Idera Pharmaceuticals Inc (NASDAQ:IDRA) for 21,505 shares. Moreover, Creative Planning has 0% invested in Idera Pharmaceuticals Inc (NASDAQ:IDRA) for 121,300 shares. Signaturefd Lc holds 0% of its portfolio in Idera Pharmaceuticals Inc (NASDAQ:IDRA) for 1,545 shares. Geode Cap Limited Liability Corporation holds 0% or 690,206 shares in its portfolio. Nationwide Fund holds 58,157 shares or 0% of its portfolio. Carl Domino Inc accumulated 0.04% or 29,137 shares. Wells Fargo And Communications Mn last reported 0% of its portfolio in the stock. Susquehanna Interest Llp has invested 0% of its portfolio in Idera Pharmaceuticals Inc (NASDAQ:IDRA). State Street Corporation holds 0% or 1.33 million shares in its portfolio. D E Shaw And holds 0% or 94,970 shares in its portfolio.
Insider Transactions: Since May 12, 2016, the stock had 3 insider buys, and 0 sales for $73,832 net activity. On Friday, May 13 the insider GERAGHTY JAMES A bought $13,400. Another trade for 4,228 shares valued at $10,824 was bought by ZEIN YOUSSEF EL. Casey Mark J bought 34,450 shares worth $49,608.
More news for Idera Pharmaceuticals Inc (NASDAQ:IDRA) were recently published by: 247Wallst.com, which released: “Idera Pharmaceuticals Sinks on Secondary Offering” on October 06, 2016. Nasdaq.com‘s article titled: “Idera Pharmaceuticals Announces Proposed Public Offering of Common Stock” and published on October 05, 2016 is yet another important article.
IDRA Company Profile
Idera Pharmaceuticals, Inc., incorporated on August 24, 2005, is a clinical-stage biopharmaceutical firm focused on the discovery, development and commercialization of therapeutics for oncology and rare diseases. The Firm 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. Using TLR technology, the Company creates synthetic oligonucleotide drug candidates to act by modulating the activity of specific TLRs. Using its 3GA technology, the Company is developing drug candidates to turn off the messenger ribo nucleic acid (mRNA) associated with disease causing genes. The Company’s drug candidates include IMO-8400; IMO-2125/IMO-2055, and IMO-9200.
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