Ironwood Pharmaceuticals Inc. (IRWD) Stock Price Up 2.6% on Analyst Upgrade
Shares of Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) rose 2.6% 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 traded. The stock had previously closed at $15.51.
A number of other analysts have also recently commented on IRWD. Mizuho upped their price target on Ironwood Pharmaceuticals from $16.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, July 15th. Wedbush reaffirmed a “neutral” rating and issued a $10.00 price target on shares of Ironwood Pharmaceuticals in a research note on Thursday, July 21st. Barclays PLC upped their price target 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. JPMorgan Chase & Co. upped their price target on Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, Zacks Investment Research cut Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note 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 given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $15.64.
In other Ironwood Pharmaceuticals news, Director Lawrence S. Olanoff sold 3,200 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 29,305 shares of the company’s stock, valued at approximately $402,064.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 7.17% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Ironwood Pharmaceuticals during the second quarter worth $144,000. Parametrica Management Ltd bought a new stake in shares of Ironwood Pharmaceuticals during the second quarter worth about $150,000. Prudential Financial Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 12.5% in the second quarter. Prudential Financial Inc. now owns 12,614 shares of the company’s stock worth $165,000 after buying an additional 1,400 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Ironwood Pharmaceuticals by 3.0% in the second quarter. Amalgamated Bank now owns 13,668 shares of the company’s stock worth $182,000 after buying an additional 397 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Ironwood Pharmaceuticals during the second quarter worth about $180,000. 93.96% of the stock is owned by hedge funds and other institutional investors.
The stock has a 50 day moving average price of $14.15 and a 200 day moving average price of $12.55. The company’s market cap is $2.31 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, August 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. The firm earned $54.40 million during 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 business’s quarterly revenue was up 96.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. On average, equities analysts forecast that Ironwood Pharmaceuticals Inc. will post ($0.75) earnings per share for the current 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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