Several other research firms also recently issued reports on IRWD. Leerink Swann reissued a market perform rating and issued a $14.00 price target (up previously from $10.00) on shares of Ironwood Pharmaceuticals in a research note on Monday, August 8th. Zacks Investment Research downgraded Ironwood Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, August 5th. Wedbush reissued a neutral rating and issued a $10.00 price target on shares of Ironwood Pharmaceuticals in a research note on Friday, June 24th. BTIG Research reissued a buy rating and issued a $18.00 price target (up previously from $15.00) on shares of Ironwood Pharmaceuticals in a research note on Friday, September 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the company an overweight rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $15.18.
Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 14.39 on Monday. The company’s market cap is $2.09 billion. Ironwood Pharmaceuticals has a 1-year low of $7.35 and a 1-year high of $16.17. The stock’s 50 day moving average price is $14.75 and its 200 day moving average price is $12.90.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. Ironwood Pharmaceuticals had a negative net margin of 45.21% and a negative return on equity of 94.75%. The firm earned $54.40 million during the quarter, compared to analyst estimates of $54.49 million. During the same period in the prior year, the business earned ($0.34) EPS. The business’s revenue for the quarter was up 96.4% compared to the same quarter last year. Equities research analysts forecast that Ironwood Pharmaceuticals will post ($0.75) earnings per share for the current year.
In related news, Director Lawrence S. Olanoff sold 3,200 shares of Ironwood Pharmaceuticals stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $13.72, for a total transaction of $43,904.00. Following the completion of the transaction, the director now owns 29,305 shares in the company, valued at $402,064.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.17% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Ironwood Pharmaceuticals by 0.8% in the second quarter. FMR LLC now owns 19,271,669 shares of the company’s stock worth $251,977,000 after buying an additional 153,580 shares during the last quarter. Wellington Management Group LLP boosted its position 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 during the last quarter. Vanguard Group Inc. boosted its position 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 during the last quarter. Bridger Management LLC acquired a new position in Ironwood Pharmaceuticals during the first quarter worth approximately $56,654,000. Finally, Consonance Capital Management LP acquired a new position in Ironwood Pharmaceuticals during the first quarter worth approximately $54,089,000. Institutional investors and hedge funds 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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