Ironwood Pharmaceuticals Downgraded by Cowen and Company to Market Perform (IRWD)
Ironwood Pharmaceuticals (NASDAQ:IRWD) was downgraded by stock analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a report issued on Thursday, TheFlyOnTheWall.com reports. They currently have a $10.50 price objective on the stock, down from their previous price objective of $16.00. Cowen and Company’s price objective would suggest a potential downside of 19.23% from the company’s current price.
Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 12.99 on Thursday. Ironwood Pharmaceuticals has a one year low of $8.95 and a one year high of $15.95. The stock’s 50-day moving average is $13.75 and its 200-day moving average is $13.48. The company’s market cap is $1.810 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings data on Monday, August 4th. The company reported ($0.38) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.36) by $0.02. The company had revenue of $6.84 million for the quarter, compared to the consensus estimate of $15.75 million. During the same quarter in the prior year, the company posted ($0.57) earnings per share. The company’s quarterly revenue was down 29.9% on a year-over-year basis. On average, analysts predict that Ironwood Pharmaceuticals will post $-1.36 earnings per share for the current fiscal year.
IRWD has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Ironwood Pharmaceuticals in a research note on Wednesday, August 6th. They now have a $14.00 price target on the stock. Separately, analysts at Leerink Swann reiterated a “market perform” rating on shares of Ironwood Pharmaceuticals in a research note on Tuesday, August 5th. They now have a $16.00 price target on the stock, up previously from $15.00. Finally, analysts at Furey Research Partners initiated coverage on shares of Ironwood Pharmaceuticals in a research note on Wednesday, July 9th. They set a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Ironwood Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $14.95.
Ironwood Pharmaceuticals, Inc is a pharmaceutical company, which discovers, develops and intends to commercialize differentiated medicines.
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