Ironwood Pharmaceuticals (NASDAQ:IRWD) was downgraded by research analysts at Bank of America from a “buy” rating to an “underperform” rating in a research report issued on Friday, MarketBeat.com reports. They presently have a $15.00 target price on the biotechnology company’s stock, down from their prior target price of $20.00. Bank of America’s target price would suggest a potential downside of 0.92% from the stock’s previous close.
IRWD has been the subject of a number of other reports. Credit Suisse Group began coverage on shares of Ironwood Pharmaceuticals in a report on Monday, November 27th. They set a “buy” rating and a $19.00 price target for the company. ValuEngine lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Mizuho lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $16.00 in a report on Wednesday, December 6th. BidaskClub lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Ironwood Pharmaceuticals in a report on Monday, December 4th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Ironwood Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $17.56.
Ironwood Pharmaceuticals (IRWD) traded down $0.06 during trading hours on Friday, reaching $15.14. 3,198,252 shares of the company were exchanged, compared to its average volume of 1,428,338. Ironwood Pharmaceuticals has a 52 week low of $13.43 and a 52 week high of $19.94. The company has a quick ratio of 4.86, a current ratio of 4.87 and a debt-to-equity ratio of -22.31. The company has a market cap of $2,250.00, a price-to-earnings ratio of -15.77 and a beta of 1.45.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.07. Ironwood Pharmaceuticals had a negative net margin of 48.89% and a negative return on equity of 645.22%. The company had revenue of $86.80 million during the quarter, compared to analyst estimates of $73.59 million. During the same period in the prior year, the business posted ($0.18) EPS. The firm’s revenue was up 31.3% compared to the same quarter last year. research analysts predict that Ironwood Pharmaceuticals will post -1.12 EPS for the current fiscal year.
In other Ironwood Pharmaceuticals news, CEO Peter M. Hecht sold 113,405 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $15.12, for a total value of $1,714,683.60. Following the completion of the transaction, the chief executive officer now directly owns 4,696,917 shares in the company, valued at approximately $71,017,385.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 115,769 shares of company stock valued at $1,752,491 over the last 90 days. Company insiders own 7.63% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Gerber Kawasaki Wealth & Investment Management purchased a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter worth about $170,000. Ameritas Investment Partners Inc. grew its position in shares of Ironwood Pharmaceuticals by 5.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,821 shares of the biotechnology company’s stock worth $223,000 after buying an additional 648 shares during the period. Virtu KCG Holdings LLC grew its position in shares of Ironwood Pharmaceuticals by 10.3% in the 2nd quarter. Virtu KCG Holdings LLC now owns 15,740 shares of the biotechnology company’s stock worth $297,000 after buying an additional 1,470 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Ironwood Pharmaceuticals by 554.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,046 shares of the biotechnology company’s stock worth $322,000 after buying an additional 14,441 shares during the period. Finally, Amalgamated Bank grew its position in shares of Ironwood Pharmaceuticals by 9.0% in the 2nd quarter. Amalgamated Bank now owns 17,280 shares of the biotechnology company’s stock worth $326,000 after buying an additional 1,421 shares during the period.
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.