Ironwood Pharmaceuticals Inc. (IRWD) Receives Neutral Rating from Wedbush
Wedbush reissued their neutral rating on shares of Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) in a research report report published on Friday morning. The firm currently has a $13.00 price objective on the stock.
IRWD has been the topic of several other reports. Zacks Investment Research cut shares of Ironwood Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, September 20th. Mizuho dropped their price objective on shares of Ironwood Pharmaceuticals from $24.00 to $19.00 and set a buy rating on the stock in a research note on Monday, October 10th. WallachBeth Capital boosted their price objective on shares of 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 reissued a buy rating and issued a $18.00 price objective (up from $15.00) on shares of Ironwood Pharmaceuticals in a research note on Friday, September 23rd. Finally, JPMorgan Chase & Co. boosted their price objective 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. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ironwood Pharmaceuticals has an average rating of Hold and a consensus target price of $15.55.
Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) traded up 0.43% during midday trading on Friday, hitting $16.18. 258,330 shares of the stock were exchanged. The firm’s market cap is $2.37 billion. The firm has a 50-day moving average price of $14.65 and a 200 day moving average price of $13.53. Ironwood Pharmaceuticals has a 12-month low of $7.35 and a 12-month high of $16.89.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.05. The company had revenue of $66 million for the quarter, compared to analysts’ expectations of $60.01 million. Ironwood Pharmaceuticals had a negative net margin of 34.29% and a negative return on equity of 94.17%. Ironwood Pharmaceuticals’s revenue was up 66.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.25) EPS. Analysts predict that Ironwood Pharmaceuticals will post ($0.78) earnings per share for the current fiscal year.
In related news, Director Lawrence S. Olanoff sold 3,200 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $13.72, for a total transaction of $43,904.00. Following the completion of the sale, the director now owns 29,305 shares of the company’s stock, valued at approximately $402,064.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.17% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Quantitative Investment Management LLC acquired a new stake in Ironwood Pharmaceuticals during the second quarter worth about $948,000. California State Teachers Retirement System increased its stake in Ironwood Pharmaceuticals by 1.6% in the second quarter. California State Teachers Retirement System now owns 271,710 shares of the company’s stock worth $3,553,000 after buying an additional 4,188 shares during the period. Quantitative Systematic Strategies LLC increased its stake in Ironwood Pharmaceuticals by 292.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 58,701 shares of the company’s stock worth $761,000 after buying an additional 43,750 shares during the period. Alps Advisors Inc. increased its stake in Ironwood Pharmaceuticals by 25.9% in the second quarter. Alps Advisors Inc. now owns 180,481 shares of the company’s stock worth $2,360,000 after buying an additional 37,144 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Ironwood Pharmaceuticals during the second quarter worth about $180,000. 94.01% of the stock is owned by hedge funds and other institutional investors.
Ironwood Pharmaceuticals Company Profile
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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