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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
Dieter Hovekamp
21 Oct 14 12:27:42
RT @BosBizDon: Last week, #biotech stocks beat the overall market. Big local gainers were $NVIV $ALNY $SRPT $IDRA http://t.co/kw74uydn8j
Stockaholics
21 Oct 14 12:25:12
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $QCOR $FCEL $IDRA
Quantpost Basic Mats
21 Oct 14 12:13:32
$SDRL News: "Time To Plunge Into Stocks? $IDRA $SDRL …" http://t.co/ZzT3jNDXs5 Board view: https://t.co/3BzU9xpbHV
Seeking Alpha
21 Oct 14 12:13:29
Time To Plunge Into Stocks? http://t.co/xqLzqBwbYa $IDRA $SDRL
Don Seiffert
21 Oct 14 03:37:48
Last week, #biotech stocks beat the overall market. Big local gainers were $NVIV $ALNY $SRPT $IDRA http://t.co/kw74uydn8j
Stockaholics
21 Oct 14 01:09:08
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $QCOR $FCEL $IDRA
Stockaholics
20 Oct 14 20:41:59
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $QCOR $FCEL $IDRA
Stockaholics
20 Oct 14 17:01:30
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $QCOR $FCEL $IDRA
Stockaholics
20 Oct 14 12:28:20
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $QCOR $FCEL $IDRA
Stockaholics
20 Oct 14 08:23:45
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $QCOR $FCEL $IDRA
Stockaholics
19 Oct 14 23:59:39
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $QCOR $FCEL $IDRA
Stockaholics
19 Oct 14 16:56:31
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $QCOR $FCEL $IDRA
Mr. Drummond
19 Oct 14 05:18:28
$IDRA Had a dream last night that this thing gapped up to $31.
JMS
18 Oct 14 19:14:59
RT @carpetscott: http://t.co/24YnnrSFKd / $IDRA acting bullish .
Stockaholics
18 Oct 14 14:36:42
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $QCOR $FCEL $IDRA
Stockaholics
18 Oct 14 11:43:13
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $QCOR $FCEL $IDRA
Stockaholics
18 Oct 14 03:32:54
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $QCOR $FCEL $IDRA
Scott Thomas
18 Oct 14 00:15:40
http://t.co/24YnnrSFKd / $IDRA acting bullish .
Stockaholics
17 Oct 14 13:27:54
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $QCOR $FCEL $IDRA
Media Sentiment
17 Oct 14 12:29:58
$IDRA received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 425
Techno Analyst
17 Oct 14 12:26:30
$IDRA strong support!!! Holding up nicely!!!
Techno Analyst
17 Oct 14 10:00:24
$IDRA huge bids at 2.30s GOING UP!
Techno Analyst
17 Oct 14 08:03:59
$IDRA nice dip before then move to the upside looking pretty thin on LEVEL 2...
Media Sentiment
17 Oct 14 07:20:08
$IDRA received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 232
Techno Analyst
17 Oct 14 07:19:26
$IDRA on the move $2.40s lets go!
Techno Analyst
17 Oct 14 07:12:24
NICE! Offers are moving above 2.40s!!! $IDRA
Media Sentiment
17 Oct 14 07:10:15
$IDRA received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 226
Techno Analyst
17 Oct 14 07:05:00
$IDRA looking strong holding it's ground above 2.35s once it breaks 2.40 it's off to the races...thinning out!!!
Techno Analyst
17 Oct 14 06:32:41
$IDRA up 2.55% at open making a move toward $3s+ analyst target $7 this one is coming off the bottom!
Timothy C. Bohen
17 Oct 14 05:13:04
Watchlist 10-17-2014 - $IBIO, $AHPI, $VSR, $OSUR, $ACI, $ANR, $IDRA, $CALI http://t.co/OBcnT6GfBY
Stockaholics
17 Oct 14 01:22:57
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Stockaholics
16 Oct 14 21:41:17
Platinum Penny Stock Picks Gained 125% last week! New Pick Coming Today! Check It Out: http://t.co/7gQJ2ZCjuq $QCOR $FCEL $IDRA
Stockaholics
16 Oct 14 18:24:31
ABPI Gained 1,587.50% In 3 days! Big News: http://t.co/7gQJ2ZCjuq $QCOR $FCEL $IDRA
equities.com
16 Oct 14 16:52:42
Idera Pharmaceuticals Inc. (IDRA) Jumps 6.82% on October 16 $IDRA http://t.co/wD5yzsqew8
Russell Barbour
16 Oct 14 15:04:34
RT @super_trades: http://t.co/dxsXM6xsDL $0 loss $IDRA 2 days ago, see my track record & realtime alerts: http://t.co/K52PeWpEDR
@super_trades
16 Oct 14 15:00:02
http://t.co/dxsXM6xsDL $0 loss $IDRA 2 days ago, see my track record & realtime alerts: http://t.co/K52PeWpEDR
Stephen P Kendal
16 Oct 14 12:00:43
$IDRA #Shares=83.77M. #UnderValued #MktCap=$194.34M. #Rev=$52.00K. #Cash=$63.73M. #Debt=$0. #52WkH/L=$6.87/$1.55. Price=$2.32⇑+5.5%. #IDRA
Scott Thomas
16 Oct 14 11:50:26
I've owned $IDRA for too long . Lately its been going up . Please look at 5 day chart . Hmmmm .
Stockaholics
16 Oct 14 11:26:59
ABPI Gained 1,587.50% In 3 days! Big News: http://t.co/7gQJ2ZCjuq $QCOR $FCEL $IDRA
Leo Kolivakis
16 Oct 14 10:15:20
@JamieJungle0 instead of buying the dip on $NFLX, buy the rip on $IDRA, she's heading much higher ;)
Mr. Drummond
16 Oct 14 10:07:54
$IDRA Weeee!
Techno Analyst
16 Oct 14 08:09:21
Slow n steady price action on this one $IDRA
Techno Analyst
16 Oct 14 07:58:56
$IDRA on radar only $2.32 up 5.45%
Media Sentiment
16 Oct 14 07:57:54
$IDRA received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 307
Techno Analyst
16 Oct 14 07:55:18
$IDRA up 6.25% looking strong would like to see this one over $3 very soon!
Penny Stock Secret
16 Oct 14 00:13:39
Secret That Has Made GREG, And 22 of his friends and family members MILLIONAIRES! FIND HERE http://t.co/SVqoMkrw2z .. $VVTV $BIOFR $IDRA
Crazy kid
16 Oct 14 00:06:06
"@SilkRoadJeeper: $IDRA Today $IDRA outperformed the Dow, Nasdaq, Spx, $IBB, & $IWM. Nice day IDERA!" Great Day! Another 375% I'll be even!
4-traders.com
15 Oct 14 19:45:22
Idera Pharmaceuticals : Patent Issued for Use of Inhibitors of Toll-Like Receptors in the Prevention and Tr... http://t.co/5ppHfCN1dg $IDRA
ACE
15 Oct 14 18:12:30
k every1 Need team work. Judging on prior trends from $LAKE $VSR $APT $PPHM $SRPT $IDRA etc if we all mention $SPY $SPX has #Ebola we flyup
StockSpotter
15 Oct 14 13:47:43
$IDRA up 1.8% to 2.20 bullish setup alert #stocks #options #markets http://t.co/uUENbliXvI
				
				
By  +Follow March 27, 2014 6:24AM
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