Mizuho Reiterates “Buy” Rating for Ironwood Pharmaceuticals, Inc. (IRWD)
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)‘s stock had its “buy” rating reaffirmed by equities researchers at Mizuho in a research report issued to clients and investors on Friday. They presently have a $20.00 price target on the biotechnology company’s stock, down from their previous price target of $23.00. Mizuho’s price objective points to a potential upside of 34.05% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. BidaskClub raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Wells Fargo & Company set a $19.00 target price on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, July 22nd. Cowen and Company set a $20.00 target price on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 4th. Zacks Investment Research raised shares of Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. Finally, ValuEngine raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.13.
Shares of Ironwood Pharmaceuticals (NASDAQ IRWD) traded down 2.74% on Friday, hitting $14.92. The stock had a trading volume of 766,517 shares. The firm’s market capitalization is $2.23 billion. Ironwood Pharmaceuticals has a 12-month low of $12.48 and a 12-month high of $19.94. The company has a 50 day moving average of $16.66 and a 200-day moving average of $17.15.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.05. Ironwood Pharmaceuticals had a negative net margin of 52.97% and a negative return on equity of 333.83%. The business had revenue of $65.10 million for the quarter, compared to the consensus estimate of $70 million. During the same period in the prior year, the business posted ($0.16) EPS. Ironwood Pharmaceuticals’s revenue for the quarter was up 19.7% on a year-over-year basis. Equities analysts predict that Ironwood Pharmaceuticals will post ($1.10) EPS for the current fiscal year.
In other news, insider Halley E. Gilbert sold 35,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $19.75, for a total value of $691,250.00. Following the completion of the sale, the insider now directly owns 35,000 shares of the company’s stock, valued at approximately $691,250. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.63% of the company’s stock.
Large investors have recently bought and sold shares of the company. Strs Ohio boosted its stake 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 acquired a new position in shares of Ironwood Pharmaceuticals during the second quarter worth about $192,000. Jane Street Group LLC acquired a new position in shares of Ironwood Pharmaceuticals during the first quarter worth about $194,000. Karp Capital Management Corp acquired a new position in shares of Ironwood Pharmaceuticals during the first quarter worth about $201,000. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Ironwood Pharmaceuticals by 5.8% in the second quarter. Ameritas Investment Partners Inc. now owns 11,821 shares of the biotechnology company’s stock worth $223,000 after buying an additional 648 shares during the period. 97.85% of the stock is owned by hedge funds and other institutional investors.
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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