BidaskClub Upgrades Ironwood Pharmaceuticals (IRWD) to “Buy”

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Ironwood Pharmaceuticals (NASDAQ:IRWD) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Other research analysts have also issued reports about the stock. Wood & Company reissued a “buy” rating on shares of Ironwood Pharmaceuticals in a report on Thursday. HC Wainwright set a $13.00 target price on shares of Ironwood Pharmaceuticals and gave the company a “sell” rating in a report on Wednesday, October 31st. JPMorgan Chase & Co. raised shares of Ironwood Pharmaceuticals from an “underweight” rating to a “neutral” rating and raised their target price for the company from $11.00 to $13.00 in a report on Thursday, January 24th. ValuEngine lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. Finally, Zacks Investment Research lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $17.28.

Shares of Ironwood Pharmaceuticals stock traded up $0.36 on Thursday, hitting $13.66. 1,597,054 shares of the company traded hands, compared to its average volume of 1,498,669. The stock has a market cap of $1.99 billion, a P/E ratio of -14.69 and a beta of 1.50. Ironwood Pharmaceuticals has a 52 week low of $9.07 and a 52 week high of $21.20.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.24). The firm had revenue of $68.69 million for the quarter, compared to analysts’ expectations of $93.48 million. Ironwood Pharmaceuticals’s revenue was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) EPS. Sell-side analysts expect that Ironwood Pharmaceuticals will post -1.08 earnings per share for the current fiscal year.

In other Ironwood Pharmaceuticals news, CEO Peter M. Hecht sold 89,551 shares of Ironwood Pharmaceuticals stock in a transaction on Friday, January 25th. The shares were sold at an average price of $12.53, for a total transaction of $1,122,074.03. Following the completion of the transaction, the chief executive officer now directly owns 4,726,917 shares of the company’s stock, valued at $59,228,270.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter M. Hecht sold 30,000 shares of Ironwood Pharmaceuticals stock in a transaction on Wednesday, January 23rd. The stock was sold at an average price of $12.66, for a total transaction of $379,800.00. Following the transaction, the chief executive officer now directly owns 4,726,917 shares of the company’s stock, valued at $59,842,769.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,909 shares of company stock valued at $1,542,852. 7.63% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Trustcore Financial Services LLC purchased a new position in Ironwood Pharmaceuticals during the third quarter worth $1,917,000. Engineers Gate Manager LP purchased a new position in Ironwood Pharmaceuticals during the third quarter worth $1,761,000. PNC Financial Services Group Inc. boosted its stake in Ironwood Pharmaceuticals by 584.7% during the third quarter. PNC Financial Services Group Inc. now owns 116,489 shares of the biotechnology company’s stock worth $2,152,000 after buying an additional 99,476 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Ironwood Pharmaceuticals by 11.3% during the second quarter. Public Employees Retirement System of Ohio now owns 120,370 shares of the biotechnology company’s stock worth $2,301,000 after buying an additional 12,175 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Ironwood Pharmaceuticals by 3.2% during the third quarter. Vanguard Group Inc. now owns 12,324,954 shares of the biotechnology company’s stock worth $227,518,000 after buying an additional 377,177 shares during the period. 94.08% of the stock is owned by institutional investors.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.

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Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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