Idera Pharmaceuticals (NASDAQ:IDRA) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Idera Pharmaceuticals (NASDAQ:IDRAGet Rating) in a research note issued to investors on Monday. The brokerage issued a sell rating on the biotechnology company’s stock.

Idera Pharmaceuticals Trading Up 4.4 %

Shares of IDRA opened at $0.36 on Monday. Idera Pharmaceuticals has a 12 month low of $0.30 and a 12 month high of $0.95. The stock’s 50 day moving average is $0.39 and its two-hundred day moving average is $0.45. The firm has a market cap of $19.01 million, a P/E ratio of -1.12 and a beta of 1.50.

Hedge Funds Weigh In On Idera Pharmaceuticals

An institutional investor recently bought a new position in Idera Pharmaceuticals stock. Credit Agricole S A bought a new stake in Idera Pharmaceuticals, Inc. (NASDAQ:IDRAGet Rating) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 200,000 shares of the biotechnology company’s stock, valued at approximately $92,000. Credit Agricole S A owned 0.38% of Idera Pharmaceuticals as of its most recent SEC filing. 12.18% of the stock is owned by hedge funds and other institutional investors.

About Idera Pharmaceuticals

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Idera Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for rare disease indications in the United States. It offers Tilsotolimod (IMO-2125), a synthetic phosphorothioate oligonucleotide that acts as a direct agonist of TLR9 to stimulate the immune systems and for treating solid tumors, squamous cell carcinoma of the head and neck, and colorectal cancer.

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