Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target Raised to $10.00 at Citizens Jmp

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price target hoisted by Citizens Jmp from $8.00 to $10.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the biotechnology company’s stock. Citizens Jmp’s price objective points to a potential upside of 171.74% from the company’s previous close.

A number of other brokerages also recently issued reports on IRWD. Wells Fargo & Company lifted their price target on Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Citigroup raised Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, January 5th. Zacks Research upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a report on Monday, December 29th. Finally, Craig Hallum raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.18.

Ironwood Pharmaceuticals Price Performance

Shares of NASDAQ:IRWD traded up $0.32 during trading hours on Thursday, hitting $3.68. The company’s stock had a trading volume of 546,465 shares, compared to its average volume of 5,501,308. The firm’s fifty day moving average price is $4.27 and its 200 day moving average price is $2.80. Ironwood Pharmaceuticals has a 52 week low of $0.53 and a 52 week high of $5.78. The company has a market capitalization of $598.66 million, a price-to-earnings ratio of 22.90 and a beta of 0.17.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Wednesday, February 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $47.71 million for the quarter, compared to the consensus estimate of $86.10 million. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. On average, equities research analysts predict that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently modified their holdings of IRWD. Integrated Wealth Concepts LLC boosted its stake in Ironwood Pharmaceuticals by 21.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 3,406 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its stake in Ironwood Pharmaceuticals by 284.6% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 39,743 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 29,409 shares in the last quarter. LSV Asset Management purchased a new position in shares of Ironwood Pharmaceuticals in the fourth quarter worth $30,000. Captrust Financial Advisors acquired a new stake in shares of Ironwood Pharmaceuticals during the second quarter worth $32,000. Finally, Jump Financial LLC purchased a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter valued at $34,000.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.