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Idera Pharmaceuticals (IDRA) Continues to Fall

By  +Follow March 27, 2014 6:24AM
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Shares in small-cap pharmaceutical stock Idera Pharmaceuticals (IDRA) continued their heavy losing streak on Thursday, down over 7.75 percent for losses in excess of 40 percent since March 18. The biggest chunk of that sell-off was motivated by news that Summer Street analysts weren’t impressed by Idera’s lead therapy, but losses have continued to mount since that information hit the markets on Monday.

Idera’s stock opened at $4.15 a share, off just under 1 percent from Wednesday’s close. However, the day proved a rocky one, as shares quickly plunged under $3.80, bounced, and then recovered to over the opening price, all in the first hour of trading. However, shares moved south again immediately after the recovery and stayed there, reaching a low of $3.67 for a loss of almost 12.5 percent. Moving into the last hour of trading, the stock had recovered to about $3.85 a share. Volume was heavy, with over 5.3 million shares moving by 3 pm ET against a daily average of just over 3.5 million shares.

The stock appears to have remained in a freefall ever since crossing its 20-day SMA, 50-day SMA, and support level all in the same disastrous day of trading, despite the lack of news about the company or IMO-8400, the treatment for lymphoma and autoimmune diseases that Summer Street knocked on Monday.

However, while the markets appear to be battering Idera, some circles are clearly seeing a buying opportunity. A note from Piper Jaffray research analysts Edward Tentoff and David Lebowitz entitled “Whoa Big Fella – IDRA Sell Off Seems Overblown in Our View” reiterated a price target of $7 and an “overweight” rating.

“Shares of IDRA are down 45% from their YTD high and have even broken recent deal price of $4.00 back in February,” said the note. “This sell off seems over blown in our view heading into Phase II IMO-8400 psoriasis data by the end of next week. We look for the study to expand the safety data with an additional 32 patients and demonstrate on target TLR 7,8&9 activity, validating the mechanism of action for Waldenstrom and MyD88- mutant Diffuse Large B-Cell Lymphoma (DLBCL).”

The note continued to emphasize that the market values of IMO-8400 and potential psoriasis treatment IMO-9200 could be more than a combined $770 million and emphasized that, based on the company’s fundamentals, its current cash position gives it time to develop its new therapies.

“We estimate Idera holds pro forma cash of $73 million, which is sufficient to fund operations into 2016,” the note reads.

 

 

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Results for IDRA
Crazy kid
26 Apr 15 15:34:54
TOP DROPS NASDAQ SHORTS: $IDRA http://t.co/V9QnHobQHz
JMS
26 Apr 15 13:33:09
$TGTX $ACAD $CPRX $IDRA http://t.co/dHsFS6ZpC5
Mark Trader
26 Apr 15 08:44:53
Cool trading site I just found. https://t.co/T2poBgnyFu $MCIG $AXXE $BLDP $IDRA $GDP $TRTC $ANR $SFY WRES
Dave
26 Apr 15 08:38:15
http://t.co/L46QQZciCc alerted over 10,000% in gains last month. Wowser. $PLUG $AMCN $SQNM $CRK $IDRA $RGSE $BCLI $NIHDQ $ONVO
Dave
26 Apr 15 07:34:47
Pro members at http://t.co/L46QQZciCc get alerts early before they make big moves. Related: $ONCY $TRQ $EXTR $XCO $IDRA $LYG
Trader News Daily
26 Apr 15 06:02:11
Check out http://t.co/PeRPkYu8Uk for some awesome trade ideas. Their 6 pro's are amazing. $WEST $BCCI $APHB $DLCR $AXAS $IDRA $SFY $SOL
Seeking Alpha Alerts
25 Apr 15 21:53:13
@SteveJthorn Subscribed to $IDRA To add another, tweet: $SYMBOL @sa_alerts To unsubscribe: unsubscribe $SYMBOL @sa_alerts
Steve
25 Apr 15 21:53:04
$IDRA @sa_alerts
Dave
25 Apr 15 18:35:45
http://t.co/L46QQZciCc alerted over 10,000% in gains last month. Wowser. $PLUG $AMCN $SQNM $CRK $IDRA $RGSE $BCLI $NIHDQ $ONVO
Mark Trader
25 Apr 15 17:30:32
Cool trading site I just found. https://t.co/T2poBg5XNW $MCIG $AXXE $BLDP $IDRA $GDP $TRTC $ANR $SFY WRES
Trader News Daily
25 Apr 15 17:18:01
Check out http://t.co/PeRPkYu8Uk for some awesome trade ideas. Their 6 pro's are amazing. $WEST $BCCI $APHB $DLCR $AXAS $IDRA $SFY $SOL
Dave
25 Apr 15 13:24:44
http://t.co/L46QQZciCc alerted over 10,000% in gains last month. Wowser. $PLUG $AMCN $SQNM $CRK $IDRA $RGSE $BCLI $NIHDQ $ONVO
Rosner Stocks
25 Apr 15 09:49:12
$TLFX stock Volume Click Here: http://t.co/rsGxHeK8vD Also See: $ADUS $GBNK $PM $IDRA #stockmarket #tradeideas ~
clayton
25 Apr 15 09:45:23
$IDRA stock Financials Click Here: http://t.co/rwr3LLc8la Also See: $SNDK $AKRX $SFY $AAPL #stockmarket #tradeideas ~
Invest | Donate
25 Apr 15 09:14:36
@IHNASDAQOMX: $CFI stock Market Cap Click Here: http://t.co/OWhoyYl4rP Also See: $IDRA $FWDG $BKEP $VMGI #stockmarket #invest #stocks #tr…
IH NASDAQ OMX
25 Apr 15 08:53:15
$CFI stock Market Cap Click Here: http://t.co/2Ekz8TOwHn Also See: $IDRA $FWDG $BKEP $VMGI #stockmarket #invest #stocks #tradeideas ~
alwe
25 Apr 15 03:20:17
$IDRA from here we will go up pretty soon
Penny Stockington
24 Apr 15 21:35:53
Our Winning Penny Stock Picks Gained Over 3115% In The Past 6 Months! Huge News: http://t.co/Lau57a75up $QCOR $FCEL $IDRA
Stockaholics
24 Apr 15 20:31:27
We Have An Absolutely MASSIVE New Stock Pick Out! Get Early Access: http://t.co/P9qXvMc7W2 $QCOR $FCEL $IDRA
JMS
24 Apr 15 20:28:05
RT @SeekingAlpha: Idera Pharmaceuticals: Is The Writing On The Wall? http://t.co/5TVeNKHTFy $ISIS $IDRA
StockenheimerSchmidt
24 Apr 15 19:59:17
Platinum Members Saw Our Stock Alerts Gain Over 3100% In 6 Months! Subscribe Here: http://t.co/KjFX61Pd0S $QCOR $FCEL $IDRA
Stock Dawgzz
24 Apr 15 19:38:56
Our Penny Stock Picks Gained 1472% In 2 Months! Get Access To Our New Pick: http://t.co/XxqN9MfSHf $QCOR $FCEL $IDRA
Stock Rocket
24 Apr 15 19:33:19
Our Stock Pick On $THCZ Is Up 481.54% From Our Initial Release! Major News: http://t.co/bLXWVUeOrx $QCOR $FCEL $IDRA
Sergio Bullón
24 Apr 15 16:41:10
RT @sa_alerts: @Bullonce $IDRA Idera Pharmaceuticals: Is The Writing On The Wall? http://t.co/7D3kBnv1s5
dailystockplays.com
24 Apr 15 15:57:52
Stochastic Buy http://t.co/LTfSVgcKnv $IP $INDA $VTR $BRX $CENX $DRE $IDRA $SGYP $MXWL $CPHD $MNI $MJN $WIT $ALE $SOXS $CPSS $EQC $AKR
Stock Rocket
24 Apr 15 14:33:25
Our Stock Pick On $THCZ Is Up 481.54% From Our Initial Release! Major News: http://t.co/bLXWVUwpQ7 $QCOR $FCEL $IDRA
Stock Dawgzz
24 Apr 15 14:05:31
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StockenheimerSchmidt
24 Apr 15 13:23:47
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ChuckSometimes
24 Apr 15 12:10:26
RT @wallstcaptain: Cool trading site I just found. https://t.co/T2poBgnyFu $MCIG $AXXE $BLDP $IDRA $GDP $TRTC $ANR $SFY WRES
ChuckSometimes
24 Apr 15 12:10:12
RT @wallstcaptain: Cool trading site I just found. https://t.co/T2poBgnyFu $MCIG $AXXE $BLDP $IDRA $GDP $TRTC $ANR $SFY WRES
ChuckSometimes
24 Apr 15 12:09:54
RT @wallstcaptain: Cool trading site I just found. https://t.co/T2poBgnyFu $MCIG $AXXE $BLDP $IDRA $GDP $TRTC $ANR $SFY WRES
Crazy kid
24 Apr 15 10:33:28
$IDRA that movement is computerized penny trading IMHO. That is never a good sign.
Mark Trader
24 Apr 15 10:05:22
Cool trading site I just found. https://t.co/T2poBgnyFu $MCIG $AXXE $BLDP $IDRA $GDP $TRTC $ANR $SFY WRES
Dave
24 Apr 15 09:48:05
Pro members at http://t.co/L46QQZciCc get alerts early before they make big moves. Related: $ONCY $TRQ $EXTR $XCO $IDRA $LYG
Dave
24 Apr 15 09:12:00
Pro members at http://t.co/XqH94CPIbQ get alerts early before they make big moves. Related: $ONCY $TRQ $EXTR $XCO $IDRA $LYG
Steve
24 Apr 15 08:48:39
RT @sa_alerts: @Bullonce $IDRA Idera Pharmaceuticals: Is The Writing On The Wall? http://t.co/7D3kBnv1s5
Seeking Alpha Alerts
24 Apr 15 07:55:13
@Bullonce $IDRA Idera Pharmaceuticals: Is The Writing On The Wall? http://t.co/7D3kBnv1s5
Trader News Daily
24 Apr 15 07:46:31
Check out http://t.co/PeRPkYLKiU for some awesome trade ideas. Their 6 pro's are amazing. $WEST $BCCI $APHB $DLCR $AXAS $IDRA $SFY $SOL
Trader News Daily
24 Apr 15 07:14:07
Check out http://t.co/PeRPkYu8Uk for some awesome trade ideas. Their 6 pro's are amazing. $WEST $BCCI $APHB $DLCR $AXAS $IDRA $SFY $SOL
Mark Trader
24 Apr 15 07:13:41
Cool trading site I just found. https://t.co/T2poBgnyFu $MCIG $AXXE $BLDP $IDRA $GDP $TRTC $ANR $SFY WRES
Jack Hysell
24 Apr 15 07:02:33
Idera Pharmaceuticals: Is The Writing On The Wall? $IDRA love this stock and watching closely! http://t.co/GUdeCrLY0d
 Nett
24 Apr 15 06:16:59
Good Morning Watchlist: $DRRX $ENZN $IDRA $LOOK $UEC $VPCO
Biotech&TechMedia FI
24 Apr 15 05:24:14
RT @SeekingAlpha: Idera Pharmaceuticals: Is The Writing On The Wall? http://t.co/5TVeNKHTFy $ISIS $IDRA
Healthcare Stocks
24 Apr 15 05:02:27
Idera Pharmaceuticals: Is The Writing On The Wall? http://t.co/AhvkcpaNRA $ISIS $IDRA
Long & Short Ideas
24 Apr 15 05:02:26
Idera Pharmaceuticals: Is The Writing On The Wall? http://t.co/Aa2aZQG2dw $ISIS $IDRA
Seeking Alpha
24 Apr 15 05:02:26
Idera Pharmaceuticals: Is The Writing On The Wall? http://t.co/5TVeNKHTFy $ISIS $IDRA
Dave
24 Apr 15 03:36:24
http://t.co/L46QQZciCc alerted over 10,000% in gains last month. Wowser. $PLUG $AMCN $SQNM $CRK $IDRA $RGSE $BCLI $NIHDQ $ONVO
stockschamp
23 Apr 15 18:51:08
$71,000 in ONE TRADE!! By Follwing Their Signals More Info Here http://t.co/8WvnrVmkBS .. $QCOR $FCEL $IDRA
alan caldwell
23 Apr 15 17:43:05
$BBRY $IDRA. Crosses 200 day moving averages
Dave
23 Apr 15 17:35:31
http://t.co/L46QQZciCc alerted over 10,000% in gains last month. Wowser. $PLUG $AMCN $SQNM $CRK $IDRA $RGSE $BCLI $NIHDQ $ONVO
				
				
By  +Follow March 27, 2014 6:24AM
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