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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.

 

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for IDRA
Day Trade Alerts
27 Nov 14 16:24:07
RT @bangersnpip: Tomorrow's Watchlist: $AT $ATML $ELNK $JAKK $NOR $AMPE $LIQD $TGS $AUDC $IDRA $MACK $PSDV $STM #stocks #charts http://t.co…
Trade Under Ten
27 Nov 14 16:21:47
Tomorrow's Watchlist: $AT $ATML $ELNK $JAKK $NOR $AMPE $LIQD $TGS $AUDC $IDRA $MACK $PSDV $STM #stocks #charts http://t.co/pNIiVx7Br0
Stockaholics
27 Nov 14 14:20:03
Our Penny Stock Pick On $STTK Is Up 128.57% In 2 Days! Major Update: http://t.co/oR27rFfh2v $QCOR $FCEL $IDRA
Grail
27 Nov 14 10:09:32
@mattbrisbon I yelled out all in Caps when I first bought in. Yelled out $IDRA @ 2.00 and $XONE @ 16-18 $HIMX called last week
Penny Stock Secret
27 Nov 14 09:28:28
This Guy Is Making Millions! Watch This Video Proof Here At http://t.co/SVqoMlijqL .. $QCOR $FCEL $IDRA http://t.co/KZb94DBqvi
Stock Signaling
27 Nov 14 09:02:22
Movers and Shakers: Making Range Advances: $KMR $TXN $KMI $BEBE $ADI $VNET $AAPL $SONC $BDX $SWKS $NKTR $FB $ATML $IDRA $HCT #trader #dow
frank kolnacki
27 Nov 14 08:32:46
11/28 Fri watch longs $IDRA $WUBA $EJ $IMGN $JASO ( $TIVO -bounce entry on higher low. ) $IG Short biased: $XOMA $ARIA $BYD $FOLD Short day
V.S. Schulz
27 Nov 14 07:23:08
RT @zzlangerhans: Baker Bros is down to 1.6M from 6M shares of $IDRA. Even if they hold those last 1.6M shares to 0, they still made bank o…
HotKeyTrading
27 Nov 14 07:00:06
Gap Ups: $BOFI $DFT $HAIN $BEBE $SAAS $ADI $T $CTLT $MYL $IDRA $WY $HRG $PZZA $TAL $STV http://t.co/TRx9EnjwT5 #stocks #markets #trader
Dusty
27 Nov 14 06:21:24
RT @StockSignaling: Movers and Shakers: Making Range Advances: $KMR $TXN $KMI $BEBE $ADI $VNET $AAPL $SONC $BDX $SWKS $NKTR $FB $ATML $IDRA…
Marian Zöllkau
27 Nov 14 02:55:21
Watchlist 11/28/2014: http://t.co/Dp0LNxyPPu $VGGL $GPRO $XOMA $CZR $CNDO $TASR $ECSL $HCHC $IDRA $NKTR $FB $TWTR $SPY $AAPL
Jake13
27 Nov 14 00:38:55
IDRA Year to date has changed -35.21% percent. +21.95% in the last 30 days. $IDRA Idera Pharmaceuticals Full b http://t.co/gYjnJ64WIm
Jake13
27 Nov 14 00:38:32
$IDRA IDRA Stock year to date has changed -35.21% percent. +21.95% in the last 30 days. $IDRA Idera Pharmaceuticals http://t.co/Gm1kWp59pe
Dirk Haussecker
26 Nov 14 23:42:33
@Dreesenkl if you know of any data you think would change my mind, please let me know. $IDRA
Dirk Haussecker
26 Nov 14 23:41:49
@Dreesenkl not really on my radar for gene modulation oligoRx based on results seen. $IDRA
Alex
26 Nov 14 22:07:03
RT @StockSignaling: Movers and Shakers: Making Range Advances: $KMR $TXN $KMI $BEBE $ADI $VNET $AAPL $SONC $BDX $SWKS $NKTR $FB $ATML $IDRA…
Momentum21
26 Nov 14 21:25:59
RT @zzlangerhans: Baker Bros is down to 1.6M from 6M shares of $IDRA. Even if they hold those last 1.6M shares to 0, they still made bank o…
Day Trade Alerts
26 Nov 14 21:18:10
RT @bangersnpip: Stock Watchlist 28 Nov: $AT $ATML $ELNK $JAKK $NOR $AMPE $LIQD $TGS $AUDC $IDRA $MACK $PSDV $STM #stocks #charts http://t.…
Trade Under Ten
26 Nov 14 21:15:36
Stock Watchlist 28 Nov: $AT $ATML $ELNK $JAKK $NOR $AMPE $LIQD $TGS $AUDC $IDRA $MACK $PSDV $STM #stocks #charts http://t.co/CRjUcjXefY
Stock Signaling
26 Nov 14 21:01:33
Movers and Shakers: Making Range Advances: $KMR $TXN $KMI $BEBE $ADI $VNET $AAPL $SONC $BDX $SWKS $NKTR $FB $ATML $IDRA $HCT #dow #stock
Stock Signaling
26 Nov 14 20:31:19
Range/Volume Advances: $RNA $IG $SBY $VTAE $NKTR $HRL $HAIN $HPQ $ADI $CTRP $BDX $SONC $DSKY $IDRA $HRG http://t.co/S9oPUZ8PN3 #stockpicks
Steve
26 Nov 14 20:19:20
RT @PensionPulse: @Profits66 You should be long the following biotech companies: $BCRX $IDRA $PGNX $THLD and $XOMA. ;)
Tony Friedman
26 Nov 14 20:16:21
Baker Bros is down to 1.6M from 6M shares of $IDRA. Even if they hold those last 1.6M shares to 0, they still made bank off their followers.
HotKeyTrading
26 Nov 14 19:00:06
Gap Ups: $BOFI $DFT $HAIN $BEBE $SAAS $ADI $T $CTLT $MYL $IDRA $WY $HRG $PZZA $TAL $STV http://t.co/TRx9EnjwT5 #spy #daytrader #investors
mike ring
26 Nov 14 18:57:42
RT @SeekingAlpha: Idera Pharmaceuticals: A Star In The Making http://t.co/fHz5GwUFcQ $IDRA
JMS
26 Nov 14 18:46:21
RT @SeekingAlpha: Idera Pharmaceuticals: A Star In The Making http://t.co/fHz5GwUFcQ $IDRA
JMS
26 Nov 14 18:37:05
RT @carpetscott: I wondering who/whom is buying $IDRA 3.9 m shares traded today . Stock closed around $2.50 last Friday Up all week , clo…
iHangout
26 Nov 14 18:05:34
PoemStone: $IDRA Idera Pharmaceuticals: $IDRA 4-bagger corrected / recovery gap. $3.00 http://t.co/xpT5rGbFLm
Scott Thomas
26 Nov 14 17:48:11
I wondering who/whom is buying $IDRA 3.9 m shares traded today . Stock closed around $2.50 last Friday Up all week , closed at $3 Hmmm
iHangout
26 Nov 14 17:34:47
PoemStone: Coffee Shoppe: $IDRA 4-bagger corrected / recovery gap. $3.00 http://t.co/7xP5PI3H3K
Stockaholics
26 Nov 14 17:28:51
Our Penny Stock Pick On $STTK Is Up 128.57% In 2 Days! Major Update: http://t.co/oR27rFfh2v $QCOR $FCEL $IDRA
equities.com
26 Nov 14 15:02:48
Idera Pharmaceuticals Inc. (IDRA) Jumps 7.14% on November 26 $IDRA http://t.co/73btZyHvtY
equities.com
26 Nov 14 14:02:21
Leading Health Care Stock for Small-Cap Stars is Protalex Inc (PRTX) for November 26 $ANAC $IDRA $AMPE $OCRX $PRTX http://t.co/xeBbgSA3Wu
Chris Sanders
26 Nov 14 13:10:24
RT @FousAlerts: perfect F1 trigger right out of FOUS4x2 DVD on $IDRA. 1 trade pays for the cost. 30% Off now ! http://t.co/tVsLBgltVq http:…
Penny Stock Secret
26 Nov 14 12:34:13
$71,000 in ONE TRADE!! By Follwing Their Signals More Info Here http://t.co/SVqoMlijqL .. $QCOR $FCEL $IDRA
BallsyStocks
26 Nov 14 12:27:47
thinking about holding $idra overnight into friday. will cut losses if it sinks below 2.96
Leo Kolivakis
26 Nov 14 12:20:17
@Profits66 You should be long the following biotech companies: $BCRX $IDRA $PGNX $THLD and $XOMA. ;)
T Abuhasna
26 Nov 14 12:19:23
Idera Pharmaceuticals: A Star In The Making $IDRA http://t.co/4mCPeUgDvr
stt2318
26 Nov 14 11:54:59
$IDRA nice continuation... updated chart http://t.co/Rz625N3q5c
Elias S
26 Nov 14 11:54:58
$IDRA PT $3.09 hit today on final day of trade. Paper win, 20%.
Lucky Jimmy
26 Nov 14 11:30:57
IDRA Stock up +8.57% percent Today $IDRA High is at 3.13 and the Low 2.85 with current volume of 1,265,449. Id http://t.co/z5D8JZbs3d
Lucky Jimmy
26 Nov 14 11:30:36
$IDRA IDRA up +8.57% percent Today $IDRA Stock High is at 3.13 and the Low 2.85 with current volume of 1,265,449. Id http://t.co/XC1DYiPf6a
Solar Melt
26 Nov 14 11:23:19
$IDRA making several presentations at ASH in early DEC. Also my release P2 interim results for IMO-8400 (Waldenstrom's) by end of year.
Mr. Drummond
26 Nov 14 11:18:57
$IDRA Holding 19k shares at $2.65 avg. Sell limit set at $59.
Scott Thomas
26 Nov 14 11:01:27
Best week for $IDRA ( % ) in months Over $3.....with great volume .
AdamSam
26 Nov 14 10:53:20
good gains today in $RGLS $AVNR $FOLD $AEMD $CNDO $EOPN $DARA $IDRA $GPRO $TWTR, like the action in $RPRX and watching $DARA
TV_Trading Ideas
26 Nov 14 10:51:43
IDRA Picking Up Steam $IDRA http://t.co/rhGjiRXn2i
Stocks News&Markets
26 Nov 14 10:45:41
Tim made $7,598 on $RMCP -Check it out! http://t.co/7pvYmYLCfk Learn #howtotrade http://t.co/axK8SMSgo9 $VGGL $UNXL $EOPN $IDRA $HKTV
wsduckk
26 Nov 14 10:37:04
$idra wants more
oo
26 Nov 14 10:31:48
$idra intraday holding, over 3.16 should be interesting
				
				
By  +Follow March 27, 2014 6:24AM
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