J P Morgan Chase & Co Reiterates “Neutral” Rating for Ironwood Pharmaceuticals, Inc. (IRWD)
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)‘s stock had its “neutral” rating reiterated by J P Morgan Chase & Co in a report issued on Friday, Marketbeat reports. They currently have a $19.00 target price on the biotechnology company’s stock. J P Morgan Chase & Co’s price target suggests a potential upside of 10.34% from the company’s previous close.
A number of other analysts have also weighed in on IRWD. BidaskClub upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. 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 report on Tuesday, July 4th. Wedbush reiterated a “neutral” rating and set a $13.00 target price on shares of Ironwood Pharmaceuticals in a report on Friday, June 16th. Finally, ValuEngine upgraded shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $18.00.
Ironwood Pharmaceuticals (NASDAQ:IRWD) traded up 1.29% on Friday, hitting $17.22. The stock had a trading volume of 2,810,246 shares. Ironwood Pharmaceuticals has a 52-week low of $12.48 and a 52-week high of $19.94. The company’s market cap is $2.56 billion. The stock’s 50-day moving average is $18.52 and its 200-day moving average is $17.04.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Monday, May 8th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.14. The firm had revenue of $52.16 million for the quarter, compared to analysts’ expectations of $69.39 million. Ironwood Pharmaceuticals had a negative return on equity of 195.06% and a negative net margin of 46.49%. The business’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Analysts expect that Ironwood Pharmaceuticals will post ($0.91) earnings per share 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 shares were 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 directly owns 30,000 shares in the company, valued at $546,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $691,250.00. Following the completion of the sale, the insider now owns 35,000 shares of the company’s stock, valued at $691,250. The disclosure for this sale can be found here. Company insiders own 7.63% of the company’s stock.
A number of hedge funds have recently modified their holdings of IRWD. Vanguard Group Inc. raised its stake in shares of Ironwood Pharmaceuticals by 5.7% in the first quarter. Vanguard Group Inc. now owns 10,505,461 shares of the biotechnology company’s stock valued at $179,223,000 after buying an additional 562,179 shares during the period. Brown Capital Management LLC bought a new stake in shares of Ironwood Pharmaceuticals during the first quarter valued at approximately $86,854,000. State Street Corp raised its stake in shares of Ironwood Pharmaceuticals by 5.1% in the first quarter. State Street Corp now owns 3,984,803 shares of the biotechnology company’s stock valued at $67,979,000 after buying an additional 193,444 shares during the period. EcoR1 Capital LLC raised its stake in shares of Ironwood Pharmaceuticals by 1.8% in the first quarter. EcoR1 Capital LLC now owns 2,905,515 shares of the biotechnology company’s stock valued at $49,568,000 after buying an additional 50,000 shares during the period. Finally, Pictet Asset Management Ltd. raised its stake in shares of Ironwood Pharmaceuticals by 68.3% in the first quarter. Pictet Asset Management Ltd. now owns 1,631,192 shares of the biotechnology company’s stock valued at $27,828,000 after buying an additional 661,868 shares during the period. Institutional investors and hedge funds own 97.36% 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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