Ironwood Pharmaceuticals Inc. (IRWD) Price Target Cut to $19.00 by Analysts at Mizuho
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) had its price objective reduced by stock analysts at Mizuho from $24.00 to $19.00 in a report issued on Monday, StockTargetPrices.com reports. The brokerage currently has a “buy” rating on the stock. Mizuho’s price objective suggests a potential upside of 20.94% from the stock’s current price.
A number of other equities analysts have also recently commented on IRWD. Zacks Investment Research cut Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. WallachBeth Capital raised 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. BTIG Research reaffirmed a “buy” rating and issued a $18.00 target price (up from $15.00) on shares of Ironwood Pharmaceuticals in a report on Friday, September 23rd. Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Ironwood Pharmaceuticals in a report on Thursday, July 21st. Finally, JPMorgan Chase & Co. raised 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $15.18.
Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 15.71 on Monday. The company’s market cap is $2.28 billion. Ironwood Pharmaceuticals has a 52 week low of $7.35 and a 52 week 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.
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Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by $0.01. The firm had revenue of $54.40 million for the quarter, compared to the consensus estimate of $54.49 million. Ironwood Pharmaceuticals had a negative net margin of 45.21% and a negative return on equity of 94.75%. Ironwood Pharmaceuticals’s quarterly revenue was up 96.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.34) earnings per share. On average, equities research analysts forecast that Ironwood Pharmaceuticals will post ($0.75) EPS for the current year.
In other news, Director Lawrence S. Olanoff sold 3,200 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.17% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in IRWD. FMR LLC increased its position in shares of 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 increased its position in shares of 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. increased its position in shares of 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 shares of Ironwood Pharmaceuticals during the first quarter worth approximately $56,654,000. Finally, Consonance Capital Management LP acquired a new position in shares of Ironwood Pharmaceuticals during the first quarter worth approximately $54,089,000. 93.96% of the stock is owned by hedge funds and other 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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