Rodman & Renshaw Reiterates Idera Pharmaceuticals Market Outperform, Lowers PT

Rodman & Renshaw reiterated its Idera Pharmaceuticals (

) Market Outperform rating and lowered its Idera Pharmaceuticals price target from $6 to $4 in a research report published today. In the report, Rodman & Renshaw states, "Despite setbacks, Idera has multiple products in the pipeline that could unlock future value for shareholders. For example, Idera is poised to move IMO-3100 into Phase 2 trials for auto-immune diseases. Additionally, the GSO platform provides Idera with a unique system to develop therapeutic drugs for “un-druggable” targets." Shares of Idera Pharmaceuticals closed today at $1.96, down 1.51% from Wednesday's market close.