Ironwood Pharmaceuticals Inc. (IRWD) Given New $19.00 Price Target at Mizuho
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) had its target price cut by equities researchers at Mizuho from $24.00 to $19.00 in a report issued on Monday, StockTargetPrices.com reports. The firm presently has a “buy” rating on the stock. Mizuho’s target price would suggest a potential upside of 20.94% from the company’s current price.
IRWD has been the topic of a number of other reports. WallachBeth Capital boosted their target price on Ironwood Pharmaceuticals from $15.00 to $17.00 and gave the stock a “hold” rating in a report on Tuesday, September 27th. Zacks Investment Research raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Monday, July 25th. Barclays PLC boosted their target price on Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. JPMorgan Chase & Co. boosted their target price on Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Finally, Wedbush reissued a “neutral” rating and set a $10.00 target price on shares of Ironwood Pharmaceuticals in a report on Thursday, August 4th. One equities 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 stock. Ironwood Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $15.18.
Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 15.71 on Monday. Ironwood Pharmaceuticals has a one year low of $7.35 and a one year high of $16.17. The firm’s 50 day moving average price is $14.63 and its 200-day moving average price is $12.80. The company’s market capitalization is $2.28 billion.
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Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, August 4th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $54.40 million for the quarter, compared to analyst estimates of $54.49 million. Ironwood Pharmaceuticals had a negative return on equity of 94.75% and a negative net margin of 45.21%. The firm’s revenue was up 96.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) earnings per share. Equities analysts forecast that Ironwood Pharmaceuticals will post ($0.75) earnings per share for the current fiscal year.
In other news, Director Lawrence S. Olanoff sold 3,200 shares of the 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 directly owns 29,305 shares of the company’s stock, valued at approximately $402,064.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 7.17% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in Ironwood Pharmaceuticals by 3.0% in the second quarter. Amalgamated Bank now owns 13,668 shares of the company’s stock valued at $182,000 after buying an additional 397 shares during the period. Principal Financial Group Inc. increased its stake in shares of Ironwood Pharmaceuticals by 2.6% in the second quarter. Principal Financial Group Inc. now owns 22,769 shares of the company’s stock valued at $298,000 after buying an additional 570 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Ironwood Pharmaceuticals by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 88,066 shares of the company’s stock valued at $1,151,000 after buying an additional 663 shares in the last quarter. American International Group Inc. increased its stake in shares of Ironwood Pharmaceuticals by 1.0% in the second quarter. American International Group Inc. now owns 74,484 shares of the company’s stock valued at $974,000 after buying an additional 722 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Ironwood Pharmaceuticals by 8.8% in the second quarter. Teacher Retirement System of Texas now owns 16,971 shares of the company’s stock valued at $222,000 after buying an additional 1,375 shares in the last quarter. 93.96% of the stock is currently owned by institutional investors.
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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