Idera Pharmaceuticals Inc (NASDAQ:IDRA), a clinical-stage biopharmaceutical company developing toll-like receptor and RNA therapeutics for patients with cancer and rare diseases, today announced that Maxine Gowen, Ph.D., joined its Board of Directors, effectiveJanuary 4, 2016.
Dr. Gowen is the founding President and Chief Executive Officer of Trevena, Inc. Prior to leading Trevena, Dr. Gowen held a variety of leadership roles at GlaxoSmithKline (GSK) over a period of fifteen years. Dr. Gowen also held a tenured academic position in theSchool of Pharmacology, University of Bath, UK. Dr. Gowen earned her Bachelor’s degree in Biochemistry from the University of Bristol, UK, her Ph.D. in Cell Biology from theUniversity of Sheffield, UK and earned her MBA from the Wharton School of the University of Pennsylvania. Dr. Gowen also serves on the Board of Directors of Akebia Therapeuticsand the state and national biotechnology industry associations, PA BIO and BIO.
“I would like to welcome Maxine to the Idera Board,” stated Jim Geraghty, Chairman of Idera’s Board of Directors. “The addition of Maxine significantly strengthens our Board’s ability to guide Idera’s strategic clinical development endeavors through her vast industry drug development and leadership experience.”
“Maxine brings a wealth of industry knowledge and experience along with organization leadership, which further enhances our Board’s ability to help guide Idera into the future as we continue our transition towards becoming a company focused on delivering approved therapies for patients suffering from certain cancers and rare diseases,” stated Vincent Milano, Idera’s Chief Executive Officer. “I welcome Maxine to our board and we are looking forward to working closely with her to help mold Idera’s bright future.” (Original Source)
Shares of Idera Pharmaceuticals closed yesterday at $2.88, down $0.12 or -4.00%. IDRA has a 1-year high of $5.48 and a 1-year low of $2.27. The stock’s 50-day moving average is $3.47 and its 200-day moving average is $3.28.
On the ratings front, Idera has been the subject of a number of recent research reports. In a report released today, Wedbush analyst Heather Behanna initiated coverage with a Buy rating on IDRA and a price target of $6, which represents a potential upside of 108.3% from where the stock is currently trading. Separately, on December 7, Piper Jaffray’s Edward Tenthoff reiterated a Buy rating on the stock and has a price target of $7.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Heather Behanna and Edward Tenthoff have a total average return of 23.0% and 6.3% respectively. Behanna has a success rate of 52.2% and is ranked #331 out of 3647 analysts, while Tenthoff has a success rate of 41.4% and is ranked #625.
Idera Pharmaceuticals Inc is a clinical stage biotechnology company. The Company is engaged in the discovery, development and commercialization of novel therapeutics for oncology and rare diseases.