BidaskClub lowered shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) from a hold rating to a sell rating in a report released on Monday, July 31st.
Several other brokerages have also issued reports on IRWD. ValuEngine downgraded Ironwood Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, July 28th. Cowen and Company reissued an outperform rating and issued a $20.00 price objective on shares of Ironwood Pharmaceuticals in a research note on Sunday, July 23rd. Wedbush reaffirmed a neutral rating and issued a $13.00 price target on shares of Ironwood Pharmaceuticals in a research report on Friday, June 16th. Mizuho lifted their price target on Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the stock a buy rating in a research report on Tuesday, July 4th. Finally, J P Morgan Chase & Co reaffirmed a neutral rating and issued a $19.00 price target (down from $20.00) on shares of Ironwood Pharmaceuticals in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Ironwood Pharmaceuticals presently has an average rating of Hold and a consensus price target of $18.50.
Ironwood Pharmaceuticals (IRWD) remained flat at $14.50 during mid-day trading on Monday. The company had a trading volume of 1,294,448 shares. The stock’s market capitalization is $2.17 billion. The company’s 50 day moving average is $17.19 and its 200 day moving average is $17.15. Ironwood Pharmaceuticals has a 52 week low of $12.48 and a 52 week high of $19.94.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.05. The company had revenue of $65.10 million during the quarter, compared to analysts’ expectations of $70 million. Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.16) EPS. On average, equities research analysts expect that Ironwood Pharmaceuticals will post ($1.10) EPS for the current fiscal year.
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In other Ironwood Pharmaceuticals news, insider Halley E. Gilbert sold 35,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was 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 $691,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.63% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of IRWD. Strs Ohio raised its position 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. Teacher Retirement System of Texas purchased a new position in shares of Ironwood Pharmaceuticals during the second quarter valued at about $192,000. Jane Street Group LLC purchased a new position in shares of Ironwood Pharmaceuticals during the first quarter valued at about $194,000. Karp Capital Management Corp purchased a new position in shares of Ironwood Pharmaceuticals during the first quarter valued at about $201,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of Ironwood Pharmaceuticals by 5.8% in the second quarter. Ameritas Investment Partners Inc. now owns 11,821 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 648 shares during the period. 97.85% of the stock is currently owned by institutional investors.
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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