Wood & Company Downgrades Ironwood Pharmaceuticals, Inc. (IRWD) to Neutral
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was downgraded by research analysts at Wood & Company from an “overweight” rating to a “neutral” rating in a report released on Friday.
IRWD has been the topic of several other research reports. Mizuho boosted their target price on Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, April 7th. J P Morgan Chase & Co reissued a “neutral” rating and set a $19.00 target price on shares of Ironwood Pharmaceuticals in a report on Friday. Wedbush reissued a “neutral” rating and set a $13.00 target price on shares of Ironwood Pharmaceuticals in a report on Tuesday, May 9th. BidaskClub cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Finally, Zacks Investment Research raised Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Ironwood Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $18.00.
Ironwood Pharmaceuticals (IRWD) traded up 1.441% during trading on Friday, reaching $17.245. The company had a trading volume of 2,121,519 shares. Ironwood Pharmaceuticals has a 52-week low of $12.48 and a 52-week high of $19.94. The firm’s market capitalization is $2.56 billion. The company has a 50-day moving average of $18.52 and a 200-day moving average of $17.04.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Monday, May 8th. The biotechnology company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $52.16 million for the quarter, compared to the consensus estimate of $69.39 million. During the same period in the previous year, the firm earned ($0.08) EPS. Ironwood Pharmaceuticals’s revenue for the quarter was down 21.0% on a year-over-year basis. Analysts expect that Ironwood Pharmaceuticals will post ($0.91) EPS for the current fiscal year.
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In other Ironwood Pharmaceuticals news, insider Thomas A. Mccourt sold 30,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $18.20, for a total value of $546,000.00. Following the transaction, the insider now owns 30,000 shares of the company’s stock, valued at $546,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Halley E. Gilbert sold 35,000 shares of the company’s stock in a transaction 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 approximately $691,250. The disclosure for this sale can be found here. 7.63% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in IRWD. Strs Ohio increased 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 period. Jane Street Group LLC purchased a new stake in shares of Ironwood Pharmaceuticals during the first quarter valued at about $194,000. Karp Capital Management Corp purchased a new stake in shares of Ironwood Pharmaceuticals during the first quarter valued at about $201,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Ironwood Pharmaceuticals by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,161 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 898 shares during the period. Finally, Aperio Group LLC increased its stake in shares of Ironwood Pharmaceuticals by 11.9% in the second quarter. Aperio Group LLC now owns 13,213 shares of the biotechnology company’s stock valued at $249,000 after buying an additional 1,410 shares during the period. 97.36% of the stock is currently owned by 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.
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