Ironwood Pharmaceuticals Inc. (IRWD) PT Raised to $17.00
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) had its price objective upped by equities researchers at WallachBeth Capital from $15.00 to $17.00 in a report issued on Tuesday. The firm presently has a “hold” rating on the stock. WallachBeth Capital’s price target suggests a potential upside of 7.05% from the stock’s previous close.
A number of other research firms also recently weighed in on IRWD. Leerink Swann restated a “market perform” rating and set a $14.00 price target (up previously from $10.00) on shares of Ironwood Pharmaceuticals in a report on Monday, August 8th. Zacks Investment Research lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Wedbush reiterated a “neutral” rating and issued a $10.00 target price on shares of Ironwood Pharmaceuticals in a research note on Friday, June 24th. BTIG Research reiterated 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. One investment 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 company currently has a consensus rating of “Hold” and a consensus price target of $15.64.
Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 15.88 on Tuesday. Ironwood Pharmaceuticals has a 12 month low of $7.35 and a 12 month high of $16.17. The company’s 50-day moving average is $14.15 and its 200-day moving average is $12.55. The stock’s market capitalization is $2.31 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.16) earnings per share 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 firm’s revenue for the quarter was up 96.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.34) EPS. Equities research analysts expect 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 Ironwood Pharmaceuticals stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $13.72, for a total transaction of $43,904.00. Following the sale, the director now directly owns 29,305 shares in the company, valued at approximately $402,064.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 7.17% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter valued at $10,266,000. Fisher Asset Management LLC acquired a new stake in shares of Ironwood Pharmaceuticals during the first quarter valued at $2,656,000. BlackRock Group LTD raised its stake in shares of Ironwood Pharmaceuticals by 34.8% in the first quarter. BlackRock Group LTD now owns 125,601 shares of the company’s stock valued at $1,374,000 after buying an additional 32,394 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake 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. Finally, JPMorgan Chase & Co. raised its stake in shares of Ironwood Pharmaceuticals by 1.3% in the first quarter. JPMorgan Chase & Co. now owns 764,631 shares of the company’s stock valued at $8,365,000 after buying an additional 10,102 shares during the period. Institutional investors and hedge funds 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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