Idera Pharmaceuticals up as Barclays starts at "overweight"

Aceragen

24/09/2018 17:31

** Shares of Idera Pharmaceuticals  IDRA.O  jumped >11 pct
early Mon before paring gains after Barclays initiated coverage
with an "overweight" rating
    ** Broker sets $14 PT, lowest on the Street
    ** IDRA last up 10.4 pct at $9.33
    ** Lead analyst Gena Wang says IDRA's lead candidate,
tilsotolimod, in combination with ipilimumab, "has shown some
encouraging initial activity in PD-1 refractory melanoma
patients," notes Ph 2 update expected on Oct 20
    ** On Sept 11 co announced departure of CFO Louis J. Arcudi
 urn:newsml:reuters.com:*:nGNX1JPZgq
    ** On Aug 2, IDRA posted Q2 adj loss/sh of 59 cents, better
than the 82 cent loss/sh analysts expected, per Thomson Reuters
I/B/E/S
    ** All 7 analysts now covering IDRA rate shares "buy" or
stronger
    ** Even with today's advance, IDRA has lost ~46 of its value
so far this year

 (Reporting by Stephen Culp)
 ((stephen.culp@thomsonreuters.com; 646-223-6076;))