Gapper IDRA. Selling waaaay over done, and Piper Jaffray reiterates overweight with 7 price target.
March 27, 2014
12:46 EDT IDRA Idera Pharmaceuticals weakness seems overdone, says Piper Jaffray
After Idera's stock tumbled 45%, Piper Jaffray thinks the company's Phase II IMO-8400 psoriasis data, due next week, will show on-target efficacy and show the drug is safe. The firm reiterates a $7 price target and Overweight rating on the shares