Idera Pharmaceuticals (IDRA) has risen sharply, recording gains of 33.33% in the past 4 weeks. However, the stock has corrected -7.25% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 34.05% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 13.35% and the 50-Day Moving Average is 26.91%.The 200 Day SMA reached 33.02%
Idera Pharmaceuticals (NASDAQ:IDRA): After opening at $2.3, the stock dipped to an intraday low of $2.22 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $2.69 and the buying power remained strong till the end. The stock closed at $2.56 for the day, a gain of 10.82% for the day session. The total traded volume was 2,444,894. The stocks close on the previous trading day was $2.56.
Idera Pharmaceuticals (IDRA) : The consensus price target for Idera Pharmaceuticals (IDRA) is $5 for the short term with a standard deviation of $1. The most optimist securities analyst among the 3 who monitor the stock believes that the stock can reach $6, however, the pessimist price target for the company is $4.
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.