Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Lower-than-expected sales of key drug Linzess due to inventory destocking hurt the top line in the first quarter. However, Linzess sales are expected to accelerate in the upcoming quarters. The company is also working on expanding the drug’s label. Investor focus should be on the stock as a number of key pipeline data read-outs/approvals are expected this year including the approval and launch of Duzallo and phase IIb data for IW-3718. Both the candidates have significant commercial potential.  Ironwood’s shares have outperformed the drugs industry so far this year. However, competition in CIC and IBS-C, Linzess’ target markets, is intensifying. Also, the uptake of Zurampic has been slow and management expects sales to be nominal in 2017. Loss estimates have been stable lately ahead of the company’s Q2 earnings release. The company has a mixed record of earnings surprises in recent quarters.”

IRWD has been the topic of several other research reports. Mizuho raised their price target on Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, April 7th. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Ironwood Pharmaceuticals in a research note on Tuesday, May 9th. BidaskClub lowered Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Wells Fargo & Company began coverage on Ironwood Pharmaceuticals in a research note on Wednesday, May 3rd. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Cowen and Company restated an “outperform” rating and set a $20.00 price target on shares of Ironwood Pharmaceuticals in a research note on Tuesday, May 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.20.

Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) traded up 0.37% on Monday, reaching $19.13. 192,933 shares of the company’s stock were exchanged. Ironwood Pharmaceuticals has a one year low of $12.48 and a one year high of $19.94. The stock’s market cap is $2.84 billion. The company’s 50 day moving average is $18.20 and its 200-day moving average is $16.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its 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. Ironwood Pharmaceuticals had a negative return on equity of 195.06% and a negative net margin of 46.49%. The business had revenue of $52.16 million during the quarter, compared to analysts’ expectations of $69.39 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The business’s revenue for the quarter was down 21.0% on a year-over-year basis. On average, analysts anticipate that Ironwood Pharmaceuticals will post ($0.91) EPS for the current year.

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In other Ironwood Pharmaceuticals news, insider Thomas A. Mccourt sold 30,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $18.20, for a total value of $546,000.00. Following the completion of the sale, the insider now owns 30,000 shares of the company’s stock, valued at $546,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Halley E. Gilbert sold 35,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $19.75, for a total value of $691,250.00. Following the completion of the sale, the insider now directly owns 35,000 shares of the company’s stock, valued at approximately $691,250. The disclosure for this sale can be found here. 7.63% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the company. V Wealth Management LLC acquired a new stake in shares of Ironwood Pharmaceuticals during the second quarter valued at $313,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Ironwood Pharmaceuticals during the first quarter valued at $652,000. Point72 Asset Management L.P. increased its stake in shares of Ironwood Pharmaceuticals by 458.4% in the first quarter. Point72 Asset Management L.P. now owns 1,628,018 shares of the biotechnology company’s stock valued at $27,774,000 after buying an additional 1,336,486 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Ironwood Pharmaceuticals during the first quarter valued at $194,000. Finally, Gotham Asset Management LLC increased its stake in shares of Ironwood Pharmaceuticals by 176.8% in the first quarter. Gotham Asset Management LLC now owns 363,051 shares of the biotechnology company’s stock valued at $6,194,000 after buying an additional 231,888 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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