BTIG Research reiterated their buy rating on shares of Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) in a research report released on Friday morning. BTIG Research currently has a $18.00 price objective on the stock, up from their previous price objective of $15.00.
A number of other analysts have also recently issued reports on IRWD. Wedbush reiterated a neutral rating and set a $10.00 target price on shares of Ironwood Pharmaceuticals in a report on Thursday, August 4th. Cowen and Company reiterated a buy rating on shares of Ironwood Pharmaceuticals in a report on Thursday, May 26th. Zacks Investment Research cut Ironwood Pharmaceuticals from a buy rating to a hold rating in a report on Friday, August 5th. Leerink Swann reiterated a market perform rating and set a $14.00 target price (up previously from $10.00) on shares of Ironwood Pharmaceuticals in a report on Monday, August 8th. Finally, JPMorgan Chase & Co. boosted their target price on Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock an overweight rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $15.64.
Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 15.88 on Friday. Ironwood Pharmaceuticals has a 1-year low of $7.35 and a 1-year high of $16.17. The stock’s market cap is $2.31 billion. The stock has a 50 day moving average of $14.15 and a 200 day moving average of $12.55.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, August 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.01. Ironwood Pharmaceuticals had a negative return on equity of 94.75% and a negative net margin of 45.21%. The firm had revenue of $54.40 million for the quarter, compared to analysts’ expectations of $54.49 million. During the same quarter in the previous year, the firm posted ($0.34) EPS. The firm’s revenue for the quarter was up 96.4% compared to the same quarter last year. Equities analysts expect that Ironwood Pharmaceuticals will post ($0.75) earnings per share for the current year.
In other Ironwood Pharmaceuticals news, Director Lawrence S. Olanoff sold 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $13.72, for a total value of $43,904.00. Following the completion of the transaction, the director now owns 29,305 shares in the company, valued at approximately $402,064.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.17% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ironwood Pharmaceuticals during the second quarter worth about $144,000. Parametrica Management Ltd acquired a new position in shares of Ironwood Pharmaceuticals during the second quarter worth about $150,000. Prudential Financial Inc. raised its position in shares of Ironwood Pharmaceuticals by 12.5% in the second quarter. Prudential Financial Inc. now owns 12,614 shares of the company’s stock worth $165,000 after buying an additional 1,400 shares during the last quarter. Amalgamated Bank raised its position in shares of Ironwood Pharmaceuticals by 3.0% in the second quarter. Amalgamated Bank now owns 13,668 shares of the company’s stock worth $182,000 after buying an additional 397 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Ironwood Pharmaceuticals during the second quarter worth about $180,000. Hedge funds and other institutional investors own 93.96% of the company’s stock.
About Ironwood Pharmaceuticals
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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