ValuEngine Upgrades Ironwood Pharmaceuticals, Inc. (IRWD) to “Hold”
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday.
A number of other brokerages also recently issued reports on IRWD. BidaskClub upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 17th. Mizuho raised 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. Wedbush restated a “neutral” rating and issued a $13.00 price target on shares of Ironwood Pharmaceuticals in a research report on Friday, June 16th. Finally, Wells Fargo & Company set a $19.00 price target on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.13.
Ironwood Pharmaceuticals (NASDAQ IRWD) traded up 1.32% on Friday, hitting $16.16. 750,433 shares of the company’s stock traded hands. Ironwood Pharmaceuticals has a 12 month low of $12.48 and a 12 month high of $19.94. The stock’s market cap is $2.42 billion. The stock has a 50 day moving average price of $16.17 and a 200-day moving average price of $17.13.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its 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. The firm had revenue of $65.10 million for the quarter, compared to the consensus estimate of $70 million. Ironwood Pharmaceuticals had a negative net margin of 52.97% and a negative return on equity of 333.83%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Equities analysts predict that Ironwood Pharmaceuticals will post ($1.10) earnings per share for the current fiscal year.
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In other Ironwood Pharmaceuticals news, insider Halley E. Gilbert sold 35,000 shares of the 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 sale, the insider now owns 35,000 shares in the company, valued at $691,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 7.63% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. 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 in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Ironwood Pharmaceuticals during the second quarter valued at approximately $192,000. Jane Street Group LLC purchased a new position in shares of Ironwood Pharmaceuticals during the first quarter valued at approximately $194,000. Karp Capital Management Corp purchased a new position in shares of Ironwood Pharmaceuticals during the first quarter valued at approximately $201,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Ironwood Pharmaceuticals by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,161 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 898 shares in the last quarter. Hedge funds and other institutional investors own 97.95% 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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