Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) Receives $15.56 Consensus Price Target from Brokerages
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) has earned an average rating of “Hold” from the thirteen brokerages that are covering the stock. One 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. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $15.56.
Several equities analysts have recently issued reports on IRWD shares. Zacks Investment Research lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. WallachBeth Capital lifted their price target on Ironwood Pharmaceuticals from $15.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, September 27th. BTIG Research restated a “buy” rating and set a $18.00 price objective (up previously from $15.00) on shares of Ironwood Pharmaceuticals in a research report on Friday, September 23rd. Wedbush restated a “neutral” rating and set a $10.00 price objective on shares of Ironwood Pharmaceuticals in a research report on Thursday, July 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th.
Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 15.92 on Monday. The firm has a 50-day moving average price of $14.50 and a 200 day moving average price of $12.74. Ironwood Pharmaceuticals has a 1-year low of $7.35 and a 1-year high of $16.17. The firm’s market cap is $2.31 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly 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. Ironwood Pharmaceuticals had a negative net margin of 45.21% and a negative return on equity of 94.75%. The business earned $54.40 million during the quarter, compared to the consensus estimate of $54.49 million. During the same quarter in the previous year, the business posted ($0.34) EPS. The company’s revenue for the quarter was up 96.4% on a year-over-year basis. Equities analysts predict that Ironwood Pharmaceuticals will post ($0.75) earnings per share for the current year.
In other news, Director Lawrence S. Olanoff sold 3,200 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $13.72, for a total value of $43,904.00. Following the transaction, the director now directly owns 29,305 shares of the company’s stock, valued at approximately $402,064.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.17% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in IRWD. FMR LLC increased its position in shares of Ironwood Pharmaceuticals by 0.8% in the second quarter. FMR LLC now owns 19,271,669 shares of the company’s stock worth $251,977,000 after buying an additional 153,580 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Ironwood Pharmaceuticals by 0.4% in the first quarter. Wellington Management Group LLP now owns 17,843,324 shares of the company’s stock worth $195,206,000 after buying an additional 65,114 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Ironwood Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 9,379,525 shares of the company’s stock worth $122,637,000 after buying an additional 281,658 shares in the last quarter. Bridger Management LLC acquired a new position in shares of Ironwood Pharmaceuticals during the first quarter worth about $56,654,000. Finally, Consonance Capital Management LP acquired a new position in shares of Ironwood Pharmaceuticals during the first quarter worth about $54,089,000. 93.96% of the stock is currently owned by institutional investors.
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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