Ironwood Pharmaceuticals Inc. (IRWD) Sets New 12-Month High at $15.45
Shares of Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) reached a new 52-week high on Wednesday . The stock traded as high as $15.45 and last traded at $15.29, with a volume of 850,561 shares changing hands. The stock had previously closed at $15.10.
IRWD has been the topic of several research reports. Wedbush reaffirmed a “neutral” rating and set a $10.00 price objective on shares of Ironwood Pharmaceuticals in a research report on Thursday, July 21st. Zacks Investment Research cut Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. Cowen and Company reissued a “buy” rating on shares of Ironwood Pharmaceuticals in a research report on Thursday, May 26th. JPMorgan Chase & Co. boosted their price target on Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Finally, Leerink Swann reissued a “market perform” rating and issued a $14.00 price target (up from $10.00) on shares of Ironwood Pharmaceuticals in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $15.20.
The company’s market capitalization is $2.22 billion. The firm’s 50 day moving average price is $13.78 and its 200 day moving average price is $12.35.
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Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data 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. Ironwood Pharmaceuticals had a negative net margin of 45.21% and a negative return on equity of 94.75%. The business had revenue of $54.40 million for the quarter, compared to the consensus estimate of $54.49 million. During the same quarter in the prior year, the business posted ($0.34) earnings per share. Ironwood Pharmaceuticals’s revenue for the quarter was up 96.4% on a year-over-year basis. Equities research analysts predict that Ironwood Pharmaceuticals Inc. will post ($0.75) earnings per share for the current year.
In other news, Director Lawrence S. Olanoff sold 3,200 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $13.72, for a total transaction of $43,904.00. Following the transaction, the director now directly owns 29,305 shares in the company, valued at $402,064.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 7.17% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in IRWD. Dynamic Technology Lab Private Ltd acquired a new position in Ironwood Pharmaceuticals during the second quarter worth about $144,000. Parametrica Management Ltd acquired a new position in Ironwood Pharmaceuticals during the second quarter worth about $150,000. Prudential Financial Inc. increased its position in Ironwood Pharmaceuticals by 12.5% in the second quarter. Prudential Financial Inc. now owns 12,614 shares of the company’s stock worth $165,000 after buying an additional 1,400 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Ironwood Pharmaceuticals during the second quarter worth about $180,000. Finally, Amalgamated Bank increased its position in Ironwood Pharmaceuticals by 3.0% in the second quarter. Amalgamated Bank now owns 13,668 shares of the company’s stock worth $182,000 after buying an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.
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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