Analyst Explains Why They Downgraded Their Rating on Idera (IDRA)
Idera (IDRA) received a Hold rating from H.C. Wainwright analyst Sean Lee CFA today. The company’s shares closed last Thursday at $5.21.
According to TipRanks.com, CFA is a 5-star analyst with an average return of 67.3% and a 68.3% success rate. CFA covers the Healthcare sector, focusing on stocks such as ThermoGenesis Holdings, CASI Pharmaceuticals, and Kazia Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Idera with a $7.00 average price target, a 35.9% upside from current levels. In a report released today, JMP Securities also downgraded the stock to Hold.
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The company has a one-year high of $6.14 and a one-year low of $1.16. Currently, Idera has an average volume of 759.1K.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IDRA in relation to earlier this year.
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Idera Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which focuses on the clinical development, and commercialization of drug candidates for both oncology and rare disease indications. The company was founded by Paul C. Zamecnik, Sudhir A. Agrawal, and James B. Wyngaarden on May 25, 1989 and is headquartered in Cambridge, MA.