Ironwood Pharmaceuticals, Inc. (IRWD) Sees Strong Trading Volume
Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw strong trading volume on Friday . 401,071 shares were traded during mid-day trading, a decline of 66% from the previous session’s volume of 1,178,130 shares.The stock last traded at $17.44 and had previously closed at $17.21.
A number of analysts have commented on the company. ValuEngine lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday. Cowen and Company set a $20.00 target price on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 4th. BidaskClub lowered Ironwood Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Mizuho reissued a “buy” rating and issued a $23.00 target price (up previously from $22.00) on shares of Ironwood Pharmaceuticals in a report on Wednesday, August 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $13.00 target price on shares of Ironwood Pharmaceuticals in a report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.29.
The stock has a 50-day moving average price of $15.65 and a 200-day moving average price of $16.91. The stock’s market cap is $2.60 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.05). The company had revenue of $65.10 million for the quarter, compared to analyst estimates of $70.00 million. Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. Ironwood Pharmaceuticals’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.16) earnings per share. Analysts predict that Ironwood Pharmaceuticals, Inc. will post ($1.10) earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Ironwood Pharmaceuticals by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 10,761,867 shares of the biotechnology company’s stock valued at $203,184,000 after buying an additional 256,406 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Ironwood Pharmaceuticals in the 2nd quarter valued at about $150,460,000. State Street Corp lifted its stake in Ironwood Pharmaceuticals by 13.7% in the 2nd quarter. State Street Corp now owns 4,530,267 shares of the biotechnology company’s stock valued at $85,533,000 after buying an additional 545,464 shares in the last quarter. EcoR1 Capital LLC lifted its stake in Ironwood Pharmaceuticals by 29.2% in the 2nd quarter. EcoR1 Capital LLC now owns 3,753,635 shares of the biotechnology company’s stock valued at $70,869,000 after buying an additional 848,120 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in Ironwood Pharmaceuticals by 16.9% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,907,360 shares of the biotechnology company’s stock valued at $33,779,000 after buying an additional 276,168 shares in the last quarter. 97.90% of the stock is currently owned by hedge funds and other institutional investors.
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Ironwood Pharmaceuticals Company Profile
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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