Robert W. Baird Maintains a Buy Rating on Idera (IDRA)
In a report released yesterday, Michael Ulz from Robert W. Baird maintained a Buy rating on Idera (IDRA), with a price target of $7.00. The company’s shares closed last Monday at $4.92.
According to TipRanks.com, Ulz is a 4-star analyst with an average return of 9.6% and a 51.6% success rate. Ulz covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Ultragenyx Pharmaceutical, and Alexion Pharmaceuticals.
Currently, the analyst consensus on Idera is a Strong Buy with an average price target of $8.33, representing a 69.3% upside. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $9.00 price target.
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Idera’s market cap is currently $187M and has a P/E ratio of -1.50. The company has a Price to Book ratio of -5.11.
Based on the recent corporate insider activity of 32 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.