Quick Win by the Algorithm: IDRA Stock Price Rise As The Previous Results Are Positive

Quick Win by the Algorithm

On March 28, 2017,  the I Know First algorithm had predicted a bullish forecast for Idera Pharmaceuticals, Inc. (IDRA). It had a signal of 89.17 and a predictability of 0.11. The company reported gains of 196.94% in one year and therefore, a quick win by the algorithm.

Quick Win by the Algorithm

Idera Pharmaceuticals, Inc. (IDRA), a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of oligonucleotide therapeutics for oncology and rare diseases in the United States.

Quick Win by the Algorithm

 

Those last days, Idera Pharmaceuticals (IDRA) stocks rose to close at $2.49, up more than 19%.

This is due to the positive financial and investment news. The Company reported a profit of $0.8 million for the fourth quarter of 2016. In the same quarter the year before, the company encountered a loss of $12 million.

Moreover, the company also announced that it successfully achieved all the desired objectives of the early-stage trial. The aim of the company was to find a treatment for a certain type of cancer called metastatic melanoma. And the one it found, IMO-2125 successfully passed the first tests.

Finally, the rise can also be explained by Vivelix exclusive license agreement (Iderapharma.com) on November 2016 for the rights to IMO-9200. Thus, the company has seen its share price gain more than 75 percent over the last 60 days, and the presentation may further boost investor’s confidence in the IMO-2125 protocol.

This bullish forecast on IDRA sent to current I Know First subscribers on March 20th, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading, the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.