JMP Securities Initiates Coverage On Idera Pharmaceuticals Inc to Market Outperform with Price Target $8

JMP Securities Initiates Coverage On Idera Pharmaceuticals Inc(IDRA). In a research note issued to the investors, the brokerage major Announces the price-target to $8 per share. The shares have been rated Market Outperform. The rating by the stock financial advisor at JMP Securities was issued on Mar 22, 2017 in a research report to their Investors and Clients.

Idera Pharmaceuticals Inc (IDRA) made into the market gainers list on Fridays trading session with the shares advancing 2.48% or 0.06 points. Due to strong positive momentum, the stock ended at $2.48, which is also near the day’s high of $2.505. The stock began the session at $2.41 and the volume stood at 31,70,999 shares. The 52-week high of the shares is $3.33 and the 52 week low is $1.19. The company has a current market capitalization of $370 M and it has 14,90,93,720 shares in outstanding.

Idera Pharmaceuticals Inc(IDRA) last announced its earnings results on Mar 15, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $15.281M. Analysts had an estimated revenue of $150.000K. Earnings per share were $0.01. Analysts had estimated an EPS of $-0.11.

Several Insider Transactions has been reported to the SEC. On Oct 5, 2016, Youssef El Zein (director 10% owner) purchased 4,228 shares at $2.56 per share price.Also, On Oct 5, 2016, Maxine Gowen (director) purchased 4,102 shares at $2.56 per share price.On May 13, 2016, Mark J Casey (Senior VP & General Counsel) purchased 34,450 shares at $1.44 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s drug candidates include IMO-8400 for Waldenstrom’s 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.

Add Comment