Idera Pharmaceuticals Inc. [NASDAQ: IDRA] loss -8.89% or -0.12 points to close at $1.23 with a heavy trading volume of 4939879 shares. The company report on March 19, 2021 that Idera Pharmaceuticals Announces Results From ILLUMINATE-301 Trial of Tilsotolimod + Ipilimumab in anti-PD-1 Refractory Advanced Melanoma.
– Objective Response Rate Endpoint Not Met –.
Idera Pharmaceuticals, Inc. (Nasdaq: IDRA; the “Company”) is announcing that ILLUMINATE-301, the Company’s pivotal registration trial of tilsotolimod in combination with ipilimumab versus ipilimumab alone in patients with anti-PD-1 refractory advanced melanoma, did not meet its primary endpoint of objective response rate (ORR). Idera is evaluating its next steps regarding continuation of the trial toward its overall survival (OS) endpoint, which includes evaluating the full data set when it is available. The Company also plans to continue its ILLUMINATE-206 Phase 2 study of tilsotolimod in combination with ipilimumab and nivolumab in patients with microsatellite stable colorectal cancer (MSS-CRC).
It opened the trading session at $1.31, the shares rose to $1.34 and dropped to $1.22, the range by which the price of stock traded the whole day. The daily chart for IDRA points out that the company has recorded -47.44% loss over the past six months. However, it is still -4.24% lower than its most recent low trading price.
If we look at the average trading volume of 2.25M shares, IDRA reached to a volume of 4939879 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Idera Pharmaceuticals Inc. [IDRA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IDRA shares is $1.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IDRA stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wedbush have made an estimate for Idera Pharmaceuticals Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 19, 2021. The new note on the price target was released on March 19, 2021, representing the official price target for Idera Pharmaceuticals Inc. stock.
The Average True Range (ATR) for Idera Pharmaceuticals Inc. is set at 0.50
Trading performance analysis for IDRA stock
Idera Pharmaceuticals Inc. [IDRA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.61. With this latest performance, IDRA shares dropped by -75.00% in over the last four-week period, additionally sinking by -47.44% over the last 6 months – not to mention a drop of -13.38% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IDRA stock in for the last two-week period is set at 23.67, with the RSI for the last a single of trading hit 18.49, and the three-weeks RSI is set at 27.88 for Idera Pharmaceuticals Inc. [IDRA]. The present Moving Average for the last 50 days of trading for this stock 4.5196, while it was recorded at 1.3680 for the last single week of trading, and 3.2008 for the last 200 days.
Idera Pharmaceuticals Inc. [IDRA]: A deeper dive into fundamental analysis
Reflecting on the efficiency of the workforce at the company, Idera Pharmaceuticals Inc. [IDRA] managed to generate an average of -$3,520,687 per employee.Idera Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.90 and a Current Ratio set at 5.90.
Idera Pharmaceuticals Inc. [IDRA]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Idera Pharmaceuticals Inc. posted 0.22/share EPS, while the average EPS was predicted by analysts to be reported at -0.41/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 153.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IDRA.
An analysis of insider ownership at Idera Pharmaceuticals Inc. [IDRA]
There are presently around $12 million, or 22.60% of IDRA stock, in the hands of institutional investors. The top three institutional holders of IDRA stocks are: BAKER BROS. ADVISORS LP with ownership of 4,608,786, which is approximately 0% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 1,021,296 shares of the stock with an approximate value of $1.26 million in IDRA stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $1.25 million in IDRA stock with ownership of nearly 5.577% of the company’s market capitalization.
Positions in Idera Pharmaceuticals Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 30 institutional holders increased their position in Idera Pharmaceuticals Inc. [NASDAQ:IDRA] by around 1,273,856 shares. Additionally, 14 investors decreased positions by around 570,678 shares, while 13 investors held positions by with 7,693,573 shares. The mentioned changes placed institutional holdings at 9,538,107 shares, according to the latest SEC report filing. IDRA stock had 15 new institutional investments in for a total of 933,377 shares, while 3 institutional investors sold positions of 21,401 shares during the same period.