Ironwood Pharmaceuticals’ (IRWD) Neutral Rating Reaffirmed at Wedbush
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a research note issued on Friday. They currently have a $13.00 target price on the biotechnology company’s stock. Wedbush’s price target points to a potential downside of 25.76% from the stock’s current price.
Several other equities research analysts have also recently commented on IRWD. Mizuho reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 16th. Barclays PLC reaffirmed an “equal weight” rating and issued a $16.00 price objective (up from $13.00) on shares of Ironwood Pharmaceuticals in a research report on Wednesday, February 22nd. BTIG Research reaffirmed a “buy” rating and issued a $21.00 price objective (up from $18.00) on shares of Ironwood Pharmaceuticals in a research report on Monday, March 13th. Cowen and Company set a $20.00 price objective on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, April 13th. Finally, Wells Fargo & Company assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Wednesday, May 3rd. They issued an “outperform” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Ironwood Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $18.20.
Ironwood Pharmaceuticals (NASDAQ:IRWD) traded up 0.17% during midday trading on Friday, reaching $17.54. The company’s stock had a trading volume of 506,027 shares. The stock’s market capitalization is $2.61 billion. Ironwood Pharmaceuticals has a 52-week low of $12.02 and a 52-week high of $19.39. The firm has a 50-day moving average price of $17.52 and a 200 day moving average price of $16.46.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Monday, May 8th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.14. The firm had revenue of $52.16 million for the quarter, compared to the consensus estimate of $69.39 million. Ironwood Pharmaceuticals had a negative return on equity of 195.06% and a negative net margin of 46.49%. The company’s revenue for the quarter was down 21.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share. Equities research analysts predict that Ironwood Pharmaceuticals will post ($0.91) EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This news story was first published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/06/16/ironwood-pharmaceuticals-irwd-neutral-rating-reaffirmed-at-wedbush.html.
In other Ironwood Pharmaceuticals news, insider Thomas A. Mccourt sold 30,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $18.20, for a total transaction of $546,000.00. Following the sale, the insider now directly owns 30,000 shares of the company’s stock, valued at approximately $546,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.63% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Strs Ohio raised its position in Ironwood Pharmaceuticals by 132.1% in the first quarter. Strs Ohio now owns 6,500 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 3,700 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Ironwood Pharmaceuticals during the fourth quarter valued at $171,000. Raymond James Financial Services Advisors Inc. purchased a new position in Ironwood Pharmaceuticals during the fourth quarter valued at $172,000. Jane Street Group LLC purchased a new position in Ironwood Pharmaceuticals during the first quarter valued at $194,000. Finally, Karp Capital Management Corp purchased a new position in Ironwood Pharmaceuticals during the first quarter valued at $201,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
Receive News & Ratings for Ironwood Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.