Idera Pharmaceuticals (IDRA) : Zacks Investment Research ranks Idera Pharmaceuticals (IDRA) as 3, which is a Hold recommendation. 3 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. The average broker rating of 3 research analysts is 1, which indicates as a Strong Buy.
Idera Pharmaceuticals (IDRA) : Average target price received by Idera Pharmaceuticals (IDRA) is $5.33 with an expected standard deviation of $1.15. The most aggressive target on the stock is $6, whereas the most downbeat target is $4. 3 financial analysts are currently covering the stock.
For the current week, the company shares have a recommendation consensus of Buy. Idera Pharmaceuticals (NASDAQ:IDRA): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.94 and $1.85 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.95. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.94, notching a gain of 0.52% for the day. The total traded volume was 257,399 . The stock had closed at $1.93 on the previous day.
In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the officer (Senior VP & General Counsel) of Idera Pharmaceuticals, Inc., Casey Mark J had purchased shares worth of $49,608 in a transaction dated on May 12, 2016. A total of 34,450 shares were purchased at a price of $1.44 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
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 uses two drug discovery technology platforms to design and develop drug candidates. Using its Toll-like receptor (TLR) targeting technology, the Company designs synthetic oligonucleotide-based drug candidates to act by modulating the activity of specific TLRs. Using its gene silencing oligonucleotide (GSO) technology, the Company is developing GSOs to turn off the messenger RNA (mRNA) associated with disease causing genes. The Companys drug candidates include IMO-8400 for Waldenstroms macroglobulinemia and diffuse large B-Cell lymphoma; IMO-2055/IMO-2125 for immune-oncology; IMO-8400 for dermatomyositis and Duchenne Muscular Dystrophy (DMD), and IMO-9200 for selected autoimmune disease.