Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) hit a new 52-week high on Wednesday after WallachBeth Capital raised their price target on the stock from $15.00 to $17.00. WallachBeth Capital currently has a hold rating on the stock. Ironwood Pharmaceuticals traded as high as $16.17 and last traded at $15.90, with a volume of 574,592 shares trading hands. The stock had previously closed at $16.10.
Several other research analysts have also commented on IRWD. Wedbush reiterated a “neutral” rating and issued a $10.00 target price on shares of Ironwood Pharmaceuticals in a research report on Thursday, August 4th. Zacks Investment Research lowered Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. BTIG Research reiterated a “buy” rating and issued a $18.00 target price (up previously from $15.00) on shares of Ironwood Pharmaceuticals in a research report on Friday, September 23rd. Leerink Swann reiterated a “market perform” rating and issued a $14.00 target price (up previously from $10.00) on shares of Ironwood Pharmaceuticals in a research report on Monday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $15.64.
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 stock was sold at an average price of $13.72, for a total transaction of $43,904.00. Following the sale, the director now owns 29,305 shares of the company’s stock, valued at approximately $402,064.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.17% of the company’s stock.
A number of hedge funds have recently made changes to their positions in IRWD. FMR LLC increased its stake in shares of Ironwood Pharmaceuticals by 0.8% in the second quarter. FMR LLC now owns 19,271,669 shares of the company’s stock valued at $251,977,000 after buying an additional 153,580 shares during the last quarter. Wellington Management Group LLP increased its stake in Ironwood Pharmaceuticals by 0.4% in the first quarter. Wellington Management Group LLP now owns 17,843,324 shares of the company’s stock worth $195,206,000 after buying an additional 65,114 shares in the last quarter. Vanguard Group Inc. increased its stake in Ironwood Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 9,379,525 shares of the company’s stock worth $122,637,000 after buying an additional 281,658 shares in the last quarter. Bridger Management LLC purchased a new stake in Ironwood Pharmaceuticals during the first quarter worth approximately $56,654,000. Finally, Consonance Capital Management LP purchased a new stake in Ironwood Pharmaceuticals during the first quarter worth approximately $54,089,000. 93.96% of the stock is currently owned by hedge funds and other institutional investors.
The stock’s market cap is $2.24 billion. The company has a 50 day moving average price of $14.21 and a 200-day moving average price of $12.57.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released 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. The firm had revenue of $54.40 million for the quarter, compared to the consensus estimate of $54.49 million. Ironwood Pharmaceuticals had a negative return on equity of 94.75% and a negative net margin of 45.21%. Ironwood Pharmaceuticals’s revenue for the quarter was up 96.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS. On average, analysts forecast that Ironwood Pharmaceuticals Inc. will post ($0.75) earnings per share for the current fiscal year.
Ironwood Pharmaceuticals Company Profile
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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