Shares of Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) were up 2.6% during mid-day trading on Tuesday after WallachBeth Capital raised their price target on the stock from $15.00 to $17.00. WallachBeth Capital currently has a hold rating on the stock. Ironwood Pharmaceuticals traded as high as $16.01 and last traded at $15.91, with a volume of 465,041 shares trading hands. The stock had previously closed at $15.51.
Other analysts have also issued reports about the company. BTIG Research restated a “buy” rating and issued a $18.00 target price (up from $15.00) on shares of Ironwood Pharmaceuticals in a research note on Friday, September 23rd. Mizuho boosted their price objective on Ironwood Pharmaceuticals from $16.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, July 15th. Zacks Investment Research upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Monday, July 25th. Barclays PLC boosted their price objective on Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, August 5th. Finally, Leerink Swann reiterated a “market perform” rating and set a $14.00 price objective (up from $10.00) on shares of Ironwood Pharmaceuticals in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $15.64.
In other news, Director Lawrence S. Olanoff sold 3,200 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $13.72, for a total transaction of $43,904.00. Following the transaction, the director now directly owns 29,305 shares in the company, valued at approximately $402,064.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.17% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Ironwood Pharmaceuticals by 0.4% in the first quarter. Wellington Management Group LLP now owns 17,843,324 shares of the company’s stock valued at $195,206,000 after buying an additional 65,114 shares during the period. Bridger Management LLC purchased a new position in shares of Ironwood Pharmaceuticals during the first quarter valued at approximately $56,654,000. Sector Gamma AS raised its position in shares of Ironwood Pharmaceuticals by 25.9% in the first quarter. Sector Gamma AS now owns 2,486,757 shares of the company’s stock valued at $27,205,000 after buying an additional 512,336 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Ironwood Pharmaceuticals by 69.2% in the first quarter. Goldman Sachs Group Inc. now owns 190,274 shares of the company’s stock valued at $2,082,000 after buying an additional 77,802 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Ironwood Pharmaceuticals by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,229,012 shares of the company’s stock valued at $35,325,000 after buying an additional 9,050 shares during the period. Hedge funds and other institutional investors own 93.96% of the company’s stock.
The company’s 50-day moving average is $14.15 and its 200 day moving average is $12.55. The stock’s market cap is $2.31 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, August 4th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $54.40 million for the quarter, compared to the consensus estimate of $54.49 million. Ironwood Pharmaceuticals had a negative net margin of 45.21% and a negative return on equity of 94.75%. The company’s quarterly revenue was up 96.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.34) EPS. Equities research analysts anticipate that Ironwood Pharmaceuticals Inc. will post ($0.75) earnings per share for the current fiscal year.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders.
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