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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
Duke Rexx
28 Aug 14 21:58:32
$IDRA a move thru 3 could push it to 3.5, daily: http://t.co/kIEAR5bBJC
Stockaholics
28 Aug 14 16:27:20
$VIIC ran up 720% Today in an explosive move! Our new picks are coming soon: http://t.co/EdxLh9u5Nx $QCOR $FCEL $IDRA
armando
28 Aug 14 15:53:51
$IDRA chart https://t.co/pwwLMbi5sz via http://t.co/gH6btxpodo
Equities.com
28 Aug 14 13:47:52
Leading Health Care Stock for Small-Cap Stars is Chromadex Corp (CDXC) for August 28 $ARDM $IDRA $HZNP $cur $CDXC http://t.co/b0IIjA3BUw
Business Updates
28 Aug 14 13:25:44
$IDRA: Idera Pharmaceuticals Reports Second Quarter 2014 Financial Results and ... http://t.co/LQdqQ5ZjDb http://t.co/z88QgWvhFP
Stockaholics
28 Aug 14 13:01:47
$VIIC ran up 720% Today in an explosive move! Our new picks are coming soon: http://t.co/86hsEuqG18 $QCOR $FCEL $IDRA
Stockaholics
28 Aug 14 12:44:52
VIIC ran up 720% Today in an explosive move! Our new picks are coming soon: http://t.co/86hsEuqG18 $QCOR $FCEL $IDRA
Daily Contracts
28 Aug 14 11:47:02
Real-Time feed of company contracts, original agreements and executive updates from Idera Pharmaceuticals $IDRA http://t.co/eSs9DV89f0
John Klein
28 Aug 14 06:55:55
RT @WintonOsamu: $IDRA: Idera Pharmaceuticals to Present at the Nucleic Acid Summit 2014 http://t.co/GwDy4R75xa http://t.co/WIDn1UgYjK
John Klein
28 Aug 14 06:55:52
“@WintonOsamu: $IDRA: Idera Pharmaceuticals to Present at the Nucleic Acid Summit 2014 http://t.co/VuUwb8f5DP http://t.co/1uirp499Az”
aziz saba
28 Aug 14 06:55:10
$IDRA $AEZS break out
aziz saba
28 Aug 14 06:48:18
WAtch $IDRA over 2.9
Stockaholics
27 Aug 14 20:15:13
REVI closed up 44.5% today! Special Update: http://t.co/6o15AzsDr3 $QCOR $FCEL $IDRA
Financial Headlines
27 Aug 14 16:25:40
$IDRA: Idera Pharmaceuticals to Present at the Nucleic Acid Summit 2014 http://t.co/GwDy4R75xa http://t.co/WIDn1UgYjK
Scott Thomas
27 Aug 14 16:17:52
@LoveSpringChick No before . $IDRA . A bit of pain .
Chacha Chaudhary
27 Aug 14 16:08:53
@carpetscott ... hope you bot after April. $IDRA Pipeline looks decent..there are some catalyst in 2H of 2014.
Scott Thomas
27 Aug 14 16:03:24
@LoveSpringChick I own some $IDRA . Its personal now ....lol .
Small Cap Strategist
27 Aug 14 15:51:27
Most searched small-cap stocks, Wed Aug 27th - $CTIX $GALE $IDRA $BLDP $ONVO $CPRX $BLUE $MGLY - More: http://t.co/rXjeuoBOGl - #smallcap
Scott Thomas
27 Aug 14 15:48:38
Well to good to be true category ? $IDRA .
DayTrading Power
27 Aug 14 14:28:53
daytraded #stocks : $ACHN $DDD $JCP $IDRA $JRJC $TUBE $JD $SPXU $TKMR $DGLY $WM $LVLT $FOLD $KITE $WSM went 22/29 for +$735. Super tough day
Scott Thomas
27 Aug 14 13:25:59
Yep $IDRA is like a haunting ( fill in the blank)
LT
27 Aug 14 12:50:39
@Couzin_Vinny $COH $IDRA $DWA $XOMA tight ..what ya think Vin?
Business News Now
27 Aug 14 10:25:44
$IDRA: Idera Pharmaceuticals Inc Earnings Call scheduled for 8:30 am ET today http://t.co/UEOv7WHPAY http://t.co/Tu1agEtIWk
Stock Market Monitor
27 Aug 14 09:25:40
$IDRA: Idera Pharmaceuticals Reports Second Quarter 2014 Financial Results and ... http://t.co/Ed6FLPt7q3 http://t.co/YKgVxsu7Gu
Investors Hangout
27 Aug 14 08:51:18
jim50: $IDRA Stock Date=Aug-26-2014 Open=2.7 High=2.91 http://t.co/trHY6KWZnU
Investors Hangout
27 Aug 14 08:51:14
jim50: $IDRA Stock Date=Aug-26-2014 Open=2.7 High=2.91 http://t.co/dS3NgqCHqF
BRENT
27 Aug 14 08:27:17
$idra,$cur,$isr,$eltp,$bcli are all buy or accumulate rated,all are looking to move higher or have begun moving higher
jim50
27 Aug 14 08:22:57
$IDRA Stock Date=Aug-26-2014 Open=2.7 High=2.91 Low=2.68 Close=2.9 Volume=1694200 http://t.co/qXEdoDhzXC
WaterMartyr
27 Aug 14 08:20:36
$IDRA 5 is forming a higher low. Must follow through. #WaterMartyr
leahanne
27 Aug 14 07:36:38
$IYT DJ Transportation Average Ishares (IYT) 151.06 +0.03 (+0.02%) $IDRA $TSLA $SPXS http://t.co/talXSHjoQy
WaterMartyr
27 Aug 14 06:34:29
$IDRA targets short term are $3.04 and $3.24ish.
WaterMartyr
27 Aug 14 06:31:45
$IDRA needs to push hard here.
FonsieTrader
27 Aug 14 04:37:45
Moved Upper Bollinger Band 2/2 $GFI $GWPH $HNT $IDRA $ISIS $ITUB $LULU $MRO $MTZ $PIR $QLIK $RKUS $SPN $TWTR $WTSL http://t.co/BEtD0NqHgQ
FonsieTrader
27 Aug 14 04:33:17
Parabolic Sar Buy Signals 2/2 $IDRA $IGT $ISIS $JDSU $KEG $LPI $NPSP $PES $PTEN $RENN $SD $SGYP $VCRA $XCO $YY $ZGNX http://t.co/HU3cKeiWHE
aziz saba
27 Aug 14 03:53:13
UPstocks daily newsletter was sent $PSTI $IDRA $ALTRI $OGXI $UURE $TKMR $JRJC - check our previous newsletters here http://t.co/Zq9BiPnnZB
aziz saba
27 Aug 14 03:52:27
Small bio-techs are starting to make a move $IDRA $CYTR $OGXI $PSTI http://t.co/Gs9G1oKh94
Stockaholics
27 Aug 14 00:46:33
We are Releasing a SECRET Penny Stock Pick Today! Get it early: https://t.co/pOvMqLbReN $QCOR $FCEL $IDRA
Alpha Maven Alerts
26 Aug 14 22:32:54
$IDRA, Active, Yesterday, SD +3.28, #NASDAQ #HealthCare
Financial Headlines
26 Aug 14 20:25:35
$IDRA: Idera Pharmaceuticals to Host Conference Call and Webcast to Report Second ... http://t.co/6RETQZRjwD http://t.co/KkFY99TSuG
Solar Melt
26 Aug 14 20:20:53
$IDRA Broke above the 50-DMA, the 80-DMA, and price resistance. I'd like to see more volume though.
DayTrading Power
26 Aug 14 19:14:23
Morning day trading scalp candidates: $ISNS $MOBL $JCP $CPRX $KERX $IDRA $ACHN lots of goodies tomorrow :) $JCP is my fav so far.
Penny Stocks Blog
26 Aug 14 18:17:18
RT @ThePUMPTracker: Alert : http://t.co/8hb8QRNBIn announces $IDRA as 8/27/2014 promo.Get the detailed promo alert at http://t.co/5pArIso…
ThePUMPTracker
26 Aug 14 17:54:10
Alert : http://t.co/8hb8QRNBIn announces $IDRA as 8/27/2014 promo.Get the detailed promo alert at http://t.co/5pArIsoEgx #pennystocks
Penny Stocks Blog
26 Aug 14 17:53:22
RT @ThePUMPTracker: Alert : http://t.co/X13fEve3HA announces $IDRA as 8/27/2014 promo.Get the detailed promo alert at http://t.co/5pArIso…
ThePUMPTracker
26 Aug 14 17:50:14
Alert : http://t.co/X13fEve3HA announces $IDRA as 8/27/2014 promo.Get the detailed promo alert at http://t.co/5pArIsoEgx #pennystocks
Grail
26 Aug 14 17:39:43
$IDRA Daily http://t.co/cUUIXau59N
Stock Market News
26 Aug 14 17:25:37
$IDRA: Trader's Watch List: Idera Pharmaceuticals (NASDAQ:IDRA), Cabot Oil & Gas ... http://t.co/SuFx5vQP1Z http://t.co/E8QKQI1AY2
kristessis
26 Aug 14 16:42:36
"@EquitiesNetwork: Idera Pharmaceuticals Inc. (IDRA) Jumps 9.43% on August 26 $IDRA http://t.co/gyBH415PZH"
Phil Martin
26 Aug 14 16:35:48
$IDRA http://t.co/4eltPHhS9t
natetrades
26 Aug 14 16:33:21
$idra-former big runner perking (just like everything today) http://t.co/CytjAlUUFI
				
				
By  +Follow March 27, 2014 6:24AM
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