Ironwood Pharmaceuticals, Inc. (IRWD) Receives Consensus Recommendation of “Hold” from Analysts
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has been given a consensus rating of “Hold” by the twelve ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.50.
A number of analysts have commented on the stock. Wedbush restated a “neutral” rating and set a $13.00 price target on shares of Ironwood Pharmaceuticals in a research report on Tuesday, May 9th. J P Morgan Chase & Co restated a “neutral” rating and set a $19.00 price target (down from $20.00) on shares of Ironwood Pharmaceuticals in a research report on Friday, July 21st. BidaskClub downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Mizuho boosted their price target on shares of Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 17th.
In other news, insider Halley E. Gilbert sold 35,000 shares of Ironwood Pharmaceuticals 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 transaction, the insider now owns 35,000 shares of the company’s stock, valued at approximately $691,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.63% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new position in Ironwood Pharmaceuticals during the second quarter valued at $150,460,000. Brown Capital Management LLC purchased a new position in Ironwood Pharmaceuticals during the first quarter valued at $86,854,000. Point72 Asset Management L.P. increased its position in 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 during the period. UBS Asset Management Americas Inc. increased its position in Ironwood Pharmaceuticals by 2,537.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,342,763 shares of the biotechnology company’s stock valued at $22,908,000 after buying an additional 1,291,848 shares during the period. Finally, EcoR1 Capital LLC increased its position in Ironwood Pharmaceuticals by 29.2% in the second quarter. EcoR1 Capital LLC now owns 3,753,635 shares of the biotechnology company’s stock valued at $70,869,000 after buying an additional 848,120 shares during the period. 97.85% of the stock is currently owned by institutional investors.
Ironwood Pharmaceuticals (NASDAQ IRWD) opened at 14.50 on Friday. Ironwood Pharmaceuticals has a 52 week low of $12.48 and a 52 week high of $19.94. The firm’s market capitalization is $2.17 billion. The stock’s 50 day moving average is $17.30 and its 200-day moving average is $17.15.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.05. Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. The company had revenue of $65.10 million for the quarter, compared to the consensus estimate of $70 million. During the same quarter last year, the firm posted ($0.16) earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, equities research analysts expect that Ironwood Pharmaceuticals will post ($1.10) EPS for the current year.
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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