Ironwood Pharmaceuticals, Inc. (IRWD) Stock Rating Reaffirmed by Mizuho
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)‘s stock had its “buy” rating reissued by analysts at Mizuho in a note issued to investors on Friday. They currently have a $20.00 target price on the biotechnology company’s stock, down from their previous target price of $23.00. Mizuho’s price target indicates a potential upside of 34.05% from the stock’s previous close.
A number of other research firms have also recently weighed in on IRWD. BidaskClub raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Zacks Investment Research raised Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Ironwood Pharmaceuticals in a report on Friday, June 16th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Ironwood Pharmaceuticals in a report on Sunday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.13.
Ironwood Pharmaceuticals (IRWD) traded down 2.74% on Friday, reaching $14.92. The company’s stock had a trading volume of 766,517 shares. Ironwood Pharmaceuticals has a one year low of $12.48 and a one year high of $19.94. The stock has a 50-day moving average of $16.66 and a 200-day moving average of $17.15. The stock’s market cap is $2.23 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.05. The business had revenue of $65.10 million during the quarter, compared to analyst estimates of $70 million. Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) EPS. On average, analysts predict that Ironwood Pharmaceuticals will post ($1.10) EPS for the current fiscal year.
In other Ironwood Pharmaceuticals news, insider Halley E. Gilbert sold 35,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 35,000 shares in the company, valued at approximately $691,250. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.63% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of IRWD. Janus Henderson Group PLC bought a new stake in Ironwood Pharmaceuticals during the second quarter worth about $150,460,000. Brown Capital Management LLC bought a new stake in Ironwood Pharmaceuticals during the first quarter worth about $86,854,000. Point72 Asset Management L.P. raised its stake 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 worth $27,774,000 after buying an additional 1,336,486 shares during the period. UBS Asset Management Americas Inc. raised its stake 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 worth $22,908,000 after buying an additional 1,291,848 shares during the period. Finally, EcoR1 Capital LLC raised its stake 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 worth $70,869,000 after buying an additional 848,120 shares during the period. Institutional investors and hedge funds own 97.85% 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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