Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Upgraded at BidaskClub
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Several other equities research analysts have also recently weighed in on the stock. ValuEngine raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Wells Fargo & Company began coverage on shares of Ironwood Pharmaceuticals in a research note on Wednesday, May 3rd. They set an “outperform” rating and a $22.00 target price on the stock. Cowen and Company set a $20.00 target price on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, April 13th. Mizuho increased their target price on shares of Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 7th. Finally, BTIG Research reissued a “buy” rating and set a $21.00 target price (up from $18.00) on shares of Ironwood Pharmaceuticals in a research note on Monday, March 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $18.20.
Shares of Ironwood Pharmaceuticals (IRWD) traded up 0.47% on Thursday, hitting $19.43. The company’s stock had a trading volume of 633,531 shares. The stock’s 50 day moving average price is $18.20 and its 200 day moving average price is $16.70. Ironwood Pharmaceuticals has a 52 week low of $12.18 and a 52 week high of $19.94. The stock’s market capitalization is $2.89 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Monday, May 8th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.14. Ironwood Pharmaceuticals had a negative return on equity of 195.06% and a negative net margin of 46.49%. The company had revenue of $52.16 million for the quarter, compared to analyst estimates of $69.39 million. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Ironwood Pharmaceuticals’s revenue for the quarter was down 21.0% compared to the same quarter last year. On average, analysts forecast that Ironwood Pharmaceuticals will post ($0.91) earnings per share for the current fiscal year.
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In other news, insider Halley E. Gilbert sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $19.75, for a total value of $691,250.00. Following the completion of the transaction, the insider now directly owns 35,000 shares in the company, valued at $691,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas A. Mccourt sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $18.20, for a total transaction of $546,000.00. Following the completion of the transaction, the insider now owns 30,000 shares of the company’s stock, valued at $546,000. The disclosure for this sale can be found here. 7.63% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Strs Ohio raised its stake in shares of 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 during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter valued at about $172,000. Jane Street Group LLC bought a new stake in shares of Ironwood Pharmaceuticals during the first quarter valued at about $194,000. Karp Capital Management Corp bought a new stake in shares of Ironwood Pharmaceuticals during the first quarter valued at about $201,000. Finally, KCG Holdings Inc. raised its stake in shares of Ironwood Pharmaceuticals by 20.5% in the first quarter. KCG Holdings Inc. now owns 14,270 shares of the biotechnology company’s stock valued at $243,000 after buying an additional 2,428 shares during the last quarter. Institutional investors and hedge funds own 98.19% of the company’s stock.
About Ironwood Pharmaceuticals
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.
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