Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) Director Bros. Advisors Lp Baker acquired 8,000,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was purchased at an average cost of $1.50 per share, with a total value of $12,000,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Idera Pharmaceuticals, Inc. (IDRA) opened at 1.61 on Tuesday. The company’s market capitalization is $240.91 million. Idera Pharmaceuticals, Inc. has a 12-month low of $1.30 and a 12-month high of $2.87. The stock’s 50 day moving average price is $2.25 and its 200 day moving average price is $1.96.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.03). The firm had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.20 million. Idera Pharmaceuticals had a negative return on equity of 61.09% and a negative net margin of 300.63%. On average, equities research analysts anticipate that Idera Pharmaceuticals, Inc. will post ($0.48) earnings per share for the current fiscal year.

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IDRA has been the subject of several recent research reports. Zacks Investment Research raised Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $4.00 target price on shares of Idera Pharmaceuticals in a report on Tuesday, September 12th. BidaskClub lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, ValuEngine lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $5.75.

Several hedge funds and other institutional investors have recently bought and sold shares of IDRA. Nationwide Fund Advisors increased its holdings in shares of Idera Pharmaceuticals by 7.3% during the first quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock worth $154,000 after buying an additional 4,235 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Idera Pharmaceuticals by 5.8% during the first quarter. Wells Fargo & Company MN now owns 91,479 shares of the biotechnology company’s stock worth $226,000 after buying an additional 5,000 shares in the last quarter. American International Group Inc. increased its holdings in shares of Idera Pharmaceuticals by 8.2% during the first quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock worth $137,000 after buying an additional 4,214 shares in the last quarter. FMR LLC increased its holdings in shares of Idera Pharmaceuticals by 25.6% during the first quarter. FMR LLC now owns 3,154,462 shares of the biotechnology company’s stock worth $7,792,000 after buying an additional 642,762 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Idera Pharmaceuticals by 3.3% during the first quarter. Vanguard Group Inc. now owns 5,007,333 shares of the biotechnology company’s stock worth $12,368,000 after buying an additional 159,828 shares in the last quarter. 30.93% of the stock is owned by institutional investors.

About Idera Pharmaceuticals

Idera Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of therapeutics for oncology and rare diseases. The Company 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.

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