Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) had its price target boosted by WallachBeth Capital from $15.00 to $17.00 in a research report sent to investors on Tuesday morning. They currently have a hold rating on the stock.
A number of other equities research analysts have also recently commented on the company. Mizuho increased their target price on Ironwood Pharmaceuticals from $16.00 to $24.00 and gave the company a buy rating in a report on Friday, July 15th. Wedbush reiterated a neutral rating and set a $10.00 target price on shares of Ironwood Pharmaceuticals in a report on Thursday, July 21st. Barclays PLC increased their target price on Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the company an equal weight rating in a report on Friday, August 5th. JPMorgan Chase & Co. increased their target price on Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the company an overweight rating in a report on Friday, August 5th. Finally, Zacks Investment Research cut Ironwood Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $15.64.
Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 15.88 on Tuesday. The stock’s market cap is $2.31 billion. The company has a 50 day moving average price of $14.28 and a 200 day moving average price of $12.60. Ironwood Pharmaceuticals has a 12-month low of $7.35 and a 12-month high of $16.17.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced 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 company had revenue of $54.40 million for the quarter, compared to analyst estimates of $54.49 million. Ironwood Pharmaceuticals had a negative net margin of 45.21% and a negative return on equity of 94.75%. Ironwood Pharmaceuticals’s quarterly revenue was up 96.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.34) EPS. Analysts anticipate that Ironwood Pharmaceuticals will post ($0.75) earnings per share for the current fiscal year.
In other news, Director Lawrence S. Olanoff sold 3,200 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $13.72, for a total transaction of $43,904.00. Following the sale, the director now owns 29,305 shares in the company, valued at $402,064.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of IRWD. Bridger Management LLC purchased a new position in shares of Ironwood Pharmaceuticals during the first quarter worth $56,654,000. Consonance Capital Management LP purchased a new position in shares of Ironwood Pharmaceuticals during the first quarter worth $54,089,000. Carlson Capital L P purchased a new position in shares of Ironwood Pharmaceuticals during the second quarter worth $14,382,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Ironwood Pharmaceuticals by 111.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,900,000 shares of the company’s stock worth $24,843,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Ironwood Pharmaceuticals during the fourth quarter worth $10,266,000. Hedge funds and other institutional investors own 93.96% of the company’s stock.
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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