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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
Rosner Stocks
29 Jan 15 20:37:15
$GDX Recent News Updated Thursday, January 29, 2015 10:59:23 PM $T $V $ZA $IDRA http://t.co/KcEu6Tn6pE
IH News Desk
29 Jan 15 19:37:15
$MUX Percent Change Updated Thursday, January 29, 2015 10:11:45 PM $AMAT $ELTP $DXJ $IDRA http://t.co/FizK1s1ZMP
IH News Desk
29 Jan 15 19:37:13
$FXA Investor Opinions Updated Thursday, January 29, 2015 10:11:45 PM $SQQQ $NKE $NTEK $IDRA http://t.co/dKXeHR4pj5
Langan Stocks
29 Jan 15 19:22:11
$IDRA Stock Forum Updated Thursday, January 29, 2015 10:03:30 PM $XOM $TLT $CXDC $GDXJ http://t.co/wqeTMIBTkw
IH News Desk
29 Jan 15 18:36:13
$IVV Stock Price Updated Thursday, January 29, 2015 9:11:50 PM $IDRA $XHB $BIB $HI http://t.co/FqXG6kOKXo
Rosner Stocks
29 Jan 15 16:34:14
$IDRA Company Info Updated Thursday, January 29, 2015 6:59:26 PM $TWM $COH $EWJ $EWY http://t.co/rbnLP6ae3a
Stock Rocket
29 Jan 15 14:46:04
Today's Mid-Day Penny Stock Pick On $ETBI gained 23.27% for us! Big News: http://t.co/HCG2IUhNyd $QCOR $FCEL $IDRA
US_proptrader
29 Jan 15 11:55:09
$BBRY $CAVM $CRR $FEYE $GENE $IDRA $PTC $RES $WWE autocharts @ http://t.co/rTnYb8yj59
Stock Rocket
29 Jan 15 10:36:29
Our Picks Gained 117% In 3 Days And We Just Released A New Mid-Day Pick On $ETBI! Big News: http://t.co/Ita48Yhgrr $QCOR $FCEL $IDRA
Mark Trader
29 Jan 15 10:27:28
The last http://t.co/8hGh2pPo4U alert popped over 400%. So sweet and free to sign up. $MCIG $HERO $PHOT $KWK $ANTH $IDRA
Greg David
29 Jan 15 07:44:41
http://t.co/m2LNLuLe8I does trade alerts differently than anyone else. Its super cool. $ANAD $IDRA $PGN $OXIS $TNK $BLDP
Eminatorus
29 Jan 15 07:08:28
$IDRA on watch needs volume
Papertrail
29 Jan 15 02:40:14
RT @stock_choices: Chart comparison $ARRY & $IDRA. Not saying it can't fade but not saying it cant grind either lol http://t.co/ohuiCHp7MV
Stockaholics
29 Jan 15 00:29:52
Our Penny Stock Picks On $IJJP $TUNG & $QLTS Gained 117% In 3 Days! New Pick Coming: http://t.co/c7bXDM1sfp $QCOR $FCEL $IDRA
Stock Rocket
28 Jan 15 20:50:01
Our Penny Stock Picks On $IJJP $TUNG & $QLTS Gained 117% In 3 Days! New Pick Coming: http://t.co/zlcsLOoyXX $QCOR $FCEL $IDRA
JSTOCKBROKERS
28 Jan 15 19:38:12
$IDRA VP of Idera Pharmaceuticals was just granted 600,000 options
JSTOCKBROKERS
28 Jan 15 19:34:01
RT @InsiderAlertsIA: $IDRA: New Insider Transaction on IDRA by Sr. VP, Bus. Dev. & Strategy Fletcher Robert C.: http://t.co/WO9DEcXk7v ht…
Insider Alerts
28 Jan 15 17:48:07
$IDRA: New Insider Transaction on IDRA by Sr. VP, Bus. Dev. & Strategy Fletcher Robert C.: http://t.co/WO9DEcXk7v http://t.co/d4z6YOcZtu
Stockaholics
28 Jan 15 14:53:04
Our Penny Stock Picks On $IJJP $TUNG & $QLTS Gained 117% In 3 Days! New Pick Coming: http://t.co/c7bXDM1sfp $QCOR $FCEL $IDRA
50shadesofgreatness
28 Jan 15 14:35:09
RT @stock_choices: Chart comparison $ARRY & $IDRA. Not saying it can't fade but not saying it cant grind either lol http://t.co/ohuiCHp7MV
Christian Nowakowski
28 Jan 15 14:34:09
Chart comparison $ARRY & $IDRA. Not saying it can't fade but not saying it cant grind either lol http://t.co/ohuiCHp7MV
Stock Rocket
28 Jan 15 12:51:22
Our Penny Stock Picks On $IJJP And $TUNG Gained A Combined 100% Mid-Day Today! Huge News: http://t.co/pFkAyf90sZ $QCOR $FCEL $IDRA
Penny Stock Secret
28 Jan 15 11:06:26
This Man Turned $100 Into Over $10,000 In Just 30 Days! Proof Here http://t.co/SVqoMlijqL .. $QCOR $FCEL $IDRA
Stock Rocket
28 Jan 15 08:27:20
Our Penny Stock Alert On $QLTS Has Gained 34.62% In The Past 2 Days! Special Update: http://t.co/SK1yaqFkM1 $QCOR $FCEL $IDRA
Stockaholics
28 Jan 15 04:42:50
Our Penny Stock Alert On $QLTS Has Gained 34.62% In The Past 2 Days! Special Update: http://t.co/MNFk4FhSe1 $QCOR $FCEL $IDRA
Scott Elliott
27 Jan 15 18:31:53
$IDRA Prior resistance becomes support at 4.40. Bounced nicely the last couple days. http://t.co/vnlvSvTUyE
Stock Rocket
27 Jan 15 17:39:39
Our Penny Stock Alert On $QLTS Has Gained 34.62% In The Past 2 Days! Special Update: http://t.co/SK1yaqFkM1 $QCOR $FCEL $IDRA
Stockaholics
27 Jan 15 16:53:06
Our Penny Stock Picks Gained 968% In 5 Weeks! Get Our Next Pick Early: http://t.co/yQwzgQ7fmA $QCOR $FCEL $IDRA
PolgarStocks
27 Jan 15 15:45:13
$CREE Stock Price Updated Tuesday, January 27, 2015 6:07:25 PM $IDRA $WBA $BORN $ECIG http://t.co/RdJqeOZmXK
PolgarStocks
27 Jan 15 15:45:08
$IDRA Stock Forum Updated Tuesday, January 27, 2015 6:07:25 PM $SLV $WLT $NEM $MU http://t.co/6UR0F4CVH4
IH News Desk
27 Jan 15 12:45:10
$CPRX Filings Updated Tuesday, January 27, 2015 3:11:24 PM $IDRA $IBB $TIP $COST http://t.co/4ILu5OXewO
PolgarStocks
27 Jan 15 11:41:10
$FOXA Opinions Updated Tuesday, January 27, 2015 2:07:23 PM $IDRA $IYR $GDX $IDRA http://t.co/VrW9icjQ4V
Langan Stocks
27 Jan 15 11:33:13
$MYEC Financials Updated Tuesday, January 27, 2015 2:03:23 PM $EBAY $EEM $IDRA $CFP http://t.co/3qNz5JG1hu
JMS
27 Jan 15 11:18:12
$ICPT $MSTX $VRNG $ETRM $TTPH $CEMP $BDSI $OXGN $CPRX $IDRA $LJPC $MNKD $XOMA $AAPL $TWTR $AMZN $FEYE $PLUG $FCEL $USO some ideas
Penny Stock Secret
27 Jan 15 11:11:05
This Guy Turned $100 into over $10,000 In Just 30 Days! http://t.co/vezCDY95do .. $QCOR $FCEL $IDRA
IH News Desk
27 Jan 15 10:43:41
$IDRA Stock Message Board Updated Tuesday, January 27, 2015 1:11:26 PM $YGE $MCD $TWTR $INFN http://t.co/MvLDNWz3GK
Langan Stocks
27 Jan 15 10:31:37
$FXB Financials Updated Tuesday, January 27, 2015 1:03:26 PM $ERX $XLB $IDRA $AMGN http://t.co/gUEuXCVALL
JP
27 Jan 15 09:58:20
@DJJasonPaul $ZQK $IDRA $FCEL $MDR $HL all on the scan, some work fast from open and some grind slowly through the day (which I prefer).
Momz Day Trading
27 Jan 15 09:50:37
$IDRA nice intraday move
Stockaholics
27 Jan 15 09:28:34
Our Penny Stock Picks Gained 968% In 5 Weeks! Get Our Next Pick Early: http://t.co/yQwzgQ7fmA $QCOR $FCEL $IDRA
Doc Tony
27 Jan 15 09:22:58
@ACInvestorBlog @adamfeuerstein @InvestorsLive @zerosum24 $ADXS back on track for $13plu., $ADXS, $UNIS and $IDRA all ready to pop!
US_proptrader
27 Jan 15 09:21:34
$ADXS $ARRY $ASNA $HIMX $HZNP $IDRA $KITE $PE $XON autocharts @ http://t.co/rTnYb8yj59
Wall Street
27 Jan 15 09:11:35
Article about a new type of penny stock website. http://t.co/JNK4kapBq0 $SNSS $VDRM $CUR $IDRA $WEST $AMRN $MWW $ZGNX
Mark Trader
27 Jan 15 09:07:56
The last http://t.co/8hGh2pPo4U alert popped over 400%. So sweet and free to sign up. $MCIG $HERO $PHOT $KWK $ANTH $IDRA
JSTOCKBROKERS
27 Jan 15 08:31:44
$IDRA 5$ coming http://t.co/R1qnJhaSR6
JSTOCKBROKERS
27 Jan 15 08:14:52
$IDRA $XOMA $OXGN Going
bluefeather
27 Jan 15 08:06:21
$IDRA perky
StockSpotter
27 Jan 15 07:46:30
$IDRA up 2.8% to 4.80 possible bullish reversal? #stocks #options #trading http://t.co/EIWc1GN7zB
Alex
27 Jan 15 07:41:10
@beckyhiu $IDRA too. Not much else I can see...
PolgarStocks
27 Jan 15 07:37:25
$IDRA Opinions Updated Tuesday, January 27, 2015 10:07:24 AM $BBEP $GLD $SUGO $JNK http://t.co/bVW7UsyNdy
				
				
By  +Follow March 27, 2014 6:24AM
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