Zacks Reiterates Neutral Rating for Ironwood Pharmaceuticals (IRWD)
Ironwood Pharmaceuticals (NASDAQ:IRWD)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Friday. They currently have a $15.00 price target on the stock. Zacks‘s target price would indicate a potential upside of 5.12% from the stock’s previous close.
Zacks’ analyst wrote, “Ironwood reported a loss of $0.38 per share in the first quarter of 2014 narrower than the year-ago loss of $0.87 per share. The Zacks Consensus Estimate was a loss of $0.45 per share. We are positive on Ironwood’s efforts to broaden Linzess’ label by expanding the targeted patient population and gaining approval for additional indications. Ironwood’s partnerships with big pharma companies for the development and commercialization of Linzess in different territories are also encouraging. However, we are concerned about the disappointing top-line phase II data on Linzess released by Astellas. Since Linzess, launched in Dec 2012, is the company’s sole marketed product, it is highly dependent on the drug for growth. Based on the above factors we maintain a Neutral recommendation on the stock.”
Ironwood Pharmaceuticals (NASDAQ:IRWD) traded up 3.92% on Friday, hitting $14.83. 684,029 shares of the company’s stock traded hands. Ironwood Pharmaceuticals has a 52-week low of $8.95 and a 52-week high of $15.47. The stock has a 50-day moving average of $13.15 and a 200-day moving average of $12.70. The company’s market cap is $2.047 billion. Ironwood Pharmaceuticals also saw a large drop in short interest during the month of May. As of May 30th, there was short interest totalling 15,359,920 shares, a drop of 7.7% from the May 15th total of 16,649,088 shares. Currently, 13.0% of the shares of the company are sold short. Based on an average daily volume of 1,487,558 shares, the short-interest ratio is presently 10.3 days.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.06. The company had revenue of $14.60 million for the quarter, compared to the consensus estimate of $8.52 million. During the same quarter in the previous year, the company posted ($0.87) earnings per share. The company’s revenue for the quarter was up 342.4% on a year-over-year basis. On average, analysts predict that Ironwood Pharmaceuticals will post $-1.31 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Leerink Swann raised their price target on shares of Ironwood Pharmaceuticals from $12.15 to $15.00 in a research note on Monday, May 19th. They now have a “market perform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Ironwood Pharmaceuticals in a research note on Wednesday, April 30th. They now have a $22.00 price target on the stock. Finally, analysts at Cantor Fitzgerald reiterated a “hold” rating on shares of Ironwood Pharmaceuticals in a research note on Wednesday, April 30th. They now have a $11.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Ironwood Pharmaceuticals has a consensus rating of “Buy” and an average target price of $14.03.
Ironwood Pharmaceuticals, Inc is a pharmaceutical company, which discovers, develops and intends to commercialize differentiated medicines.
To view Zacks’ full report, visit Zacks’ official website.
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