Analysts Set Ironwood Pharmaceuticals, Inc. (IRWD) Target Price at $18.50
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has received an average rating of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $18.50.
Several brokerages have weighed in on IRWD. J P Morgan Chase & Co reissued a “neutral” rating and set a $19.00 price objective (down from $20.00) on shares of Ironwood Pharmaceuticals in a report on Friday, July 21st. BidaskClub lowered Ironwood Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. Cowen and Company reissued an “outperform” rating and set a $20.00 price objective on shares of Ironwood Pharmaceuticals in a research note on Sunday, July 23rd. Finally, Wedbush reissued a “neutral” rating and set a $13.00 price objective on shares of Ironwood Pharmaceuticals in a research note on Friday, June 16th.
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In other news, insider Halley E. Gilbert sold 35,000 shares of Ironwood Pharmaceuticals stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $19.75, for a total value of $691,250.00. Following the transaction, the insider now owns 35,000 shares in the company, valued at $691,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 7.63% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio increased its position in Ironwood Pharmaceuticals by 132.1% in the first quarter. Strs Ohio now owns 6,500 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 3,700 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Ironwood Pharmaceuticals during the second quarter valued at approximately $192,000. Jane Street Group LLC bought a new position in Ironwood Pharmaceuticals during the first quarter valued at approximately $194,000. Karp Capital Management Corp bought a new position in Ironwood Pharmaceuticals during the first quarter valued at approximately $201,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in Ironwood Pharmaceuticals by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,161 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 898 shares in the last quarter. Hedge funds and other institutional investors own 97.85% of the company’s stock.
Shares of Ironwood Pharmaceuticals (IRWD) traded down 0.62% during midday trading on Friday, reaching $14.41. The company had a trading volume of 2,281,477 shares. The stock’s 50 day moving average is $17.19 and its 200-day moving average is $17.15. Ironwood Pharmaceuticals has a 12-month low of $12.48 and a 12-month high of $19.94. The stock’s market capitalization is $2.16 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.05. The business had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $70 million. Ironwood Pharmaceuticals had a negative net margin of 52.97% and a negative return on equity of 333.83%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.16) earnings per share. On average, equities research analysts predict that Ironwood Pharmaceuticals will post ($1.10) earnings per share for the current fiscal year.
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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