Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)‘s stock had its “outperform” rating reissued by equities researchers at Cowen and Company in a report released on Tuesday, May 9th. They presently have a $20.00 price objective on the biotechnology company’s stock. Cowen and Company’s price target would suggest a potential upside of 10.13% from the company’s previous close.
A number of other research firms also recently weighed in on IRWD. Zacks Investment Research downgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th. Wedbush reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Ironwood Pharmaceuticals in a research report on Friday, January 13th. Mizuho reissued a “buy” rating and set a $21.00 price objective on shares of Ironwood Pharmaceuticals in a research report on Monday, January 30th. JPMorgan Chase & Co. set a $21.00 price objective on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, February 2nd. Finally, Barclays PLC restated an “equal weight” rating and set a $16.00 target price (up previously from $13.00) on shares of Ironwood Pharmaceuticals in a research note on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Ironwood Pharmaceuticals has an average rating of “Hold” and a consensus price target of $18.20.
Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) traded down 2.75% during trading on Tuesday, hitting $17.66. 326,281 shares of the stock traded hands. Ironwood Pharmaceuticals has a 1-year low of $11.10 and a 1-year high of $18.54. The firm has a 50-day moving average of $16.56 and a 200-day moving average of $16.08. The firm’s market capitalization is $2.62 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Monday, May 8th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.14. The company had revenue of $52.16 million for the quarter, compared to analysts’ expectations of $69.39 million. Ironwood Pharmaceuticals had a negative net margin of 34.29% and a negative return on equity of 94.17%. The firm’s revenue for the quarter was down 21.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. On average, equities analysts forecast that Ironwood Pharmaceuticals will post ($0.89) earnings per share for the current year.
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In related news, insider Thomas A. Mccourt sold 30,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $18.20, for a total value of $546,000.00. Following the completion of the sale, the insider now directly owns 30,000 shares in the company, valued at $546,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 7.17% of the company’s stock.
A number of hedge funds have recently modified their holdings of IRWD. FMR LLC increased its stake in Ironwood Pharmaceuticals by 0.9% in the fourth quarter. FMR LLC now owns 19,674,160 shares of the biotechnology company’s stock valued at $300,818,000 after buying an additional 184,156 shares during the period. Vanguard Group Inc. increased its stake in Ironwood Pharmaceuticals by 5.7% in the first quarter. Vanguard Group Inc. now owns 10,505,461 shares of the biotechnology company’s stock valued at $179,223,000 after buying an additional 562,179 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Ironwood Pharmaceuticals by 185.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 5,424,600 shares of the biotechnology company’s stock valued at $86,143,000 after buying an additional 3,524,600 shares during the last quarter. Brown Capital Management LLC bought a new position in Ironwood Pharmaceuticals during the first quarter valued at about $86,854,000. Finally, State Street Corp raised its position in Ironwood Pharmaceuticals by 5.1% in the first quarter. State Street Corp now owns 3,984,803 shares of the biotechnology company’s stock valued at $67,979,000 after buying an additional 193,444 shares during the period. Institutional investors own 96.01% of the company’s stock.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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