According to Zacks, “Ironwood’s key marketed drug, Linzess has blockbuster potential, if approved for additional indications. We are also encouraged by Ironwood's partnership deals for the development and commercialization of Linzess in different territories. However, Ironwood is dependent on Linzess for growth. Notably, any Linzess-related pipeline/regulatory setbacks would weigh heavily on the stock, given that the rest of its pipeline is mostly mid-stage in nature. Moreover, Linzess' target market has quite a few players, with other companies working on bringing new products to market.”
Several other research firms also recently weighed in on IRWD. Barclays PLC increased their price target on shares of Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the stock an equal weight rating in a research report on Friday, August 5th. Wedbush restated a neutral rating and set a $10.00 price objective on shares of Ironwood Pharmaceuticals in a research report on Thursday, August 4th. JPMorgan Chase & Co. raised their price objective on shares of Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the company an overweight rating in a research report on Friday, August 5th. Leerink Swann restated a market perform rating and set a $14.00 price objective (up from $10.00) on shares of Ironwood Pharmaceuticals in a research report on Monday, August 8th. Finally, Mizuho raised their price objective on shares of Ironwood Pharmaceuticals from $16.00 to $24.00 and gave the company a buy rating in a research report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Ironwood Pharmaceuticals presently has an average rating of Hold and a consensus target price of $15.20.
Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 15.87 on Tuesday. The company’s market capitalization is $2.31 billion. The firm has a 50-day moving average of $13.88 and a 200 day moving average of $12.40. Ironwood Pharmaceuticals has a 1-year low of $7.35 and a 1-year high of $16.11.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ 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 business earned $54.40 million during the quarter, compared to the consensus estimate of $54.49 million. During the same quarter in the previous year, the business posted ($0.34) earnings per share. The firm’s revenue was up 96.4% on a year-over-year basis. On average, analysts anticipate that Ironwood Pharmaceuticals will post ($0.75) EPS for the current year.
In other Ironwood Pharmaceuticals news, Director Lawrence S. Olanoff sold 3,200 shares of Ironwood Pharmaceuticals stock in a transaction on Tuesday, September 6th. The shares were 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 directly owns 29,305 shares of the company’s stock, valued at approximately $402,064.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.17% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Bridger Management LLC acquired a new position in shares of Ironwood Pharmaceuticals during the first quarter worth approximately $56,654,000. Consonance Capital Management LP acquired a new position in shares of Ironwood Pharmaceuticals during the first quarter worth approximately $54,089,000. Carlson Capital L P acquired a new position in shares of Ironwood Pharmaceuticals during the second quarter worth approximately $14,382,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Ironwood Pharmaceuticals by 111.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,900,000 shares of the company’s stock worth $24,843,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Ironwood Pharmaceuticals during the fourth quarter worth approximately $10,266,000. 93.96% of the stock is owned by institutional investors and hedge funds.
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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