HC Wainwright set a $13.00 price objective on Ironwood Pharmaceuticals (NASDAQ:IRWD) in a report published on Monday morning, Stock Target Advisor reports. The brokerage currently has a hold rating on the biotechnology company’s stock.
A number of other equities research analysts have also recently issued reports on IRWD. GMP Securities raised shares of Ironwood Pharmaceuticals from a sell rating to a neutral rating and upped their price objective for the company from $11.50 to $14.00 in a research note on Monday, February 25th. BidaskClub lowered shares of Ironwood Pharmaceuticals from a buy rating to a hold rating in a report on Monday, February 25th. Wood & Company initiated coverage on shares of Ironwood Pharmaceuticals in a report on Tuesday, February 26th. They issued a buy rating for the company. Credit Suisse Group set a $16.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a hold rating in a report on Friday, March 22nd. Finally, Morgan Stanley upgraded shares of Ironwood Pharmaceuticals from an underweight rating to an equal rating and upped their price objective for the stock from $11.00 to $14.00 in a report on Wednesday, March 27th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $15.05.
IRWD stock opened at $10.43 on Monday. Ironwood Pharmaceuticals has a one year low of $9.07 and a one year high of $21.20. The stock has a market cap of $1.61 billion, a PE ratio of -10.98 and a beta of 1.79. The business has a 50 day moving average of $10.88.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.10). The firm had revenue of $68.73 million for the quarter, compared to the consensus estimate of $81.93 million. During the same period last year, the business earned ($0.25) earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year.
In related news, CFO Gina Consylman sold 4,055 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $10.53, for a total value of $42,699.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY increased its stake in shares of Ironwood Pharmaceuticals by 330.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 44,771 shares of the biotechnology company’s stock worth $464,000 after acquiring an additional 34,372 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Ironwood Pharmaceuticals by 22.8% in the 4th quarter. Two Sigma Advisers LP now owns 43,157 shares of the biotechnology company’s stock worth $447,000 after acquiring an additional 8,000 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Ironwood Pharmaceuticals by 5.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,974,879 shares of the biotechnology company’s stock worth $20,460,000 after acquiring an additional 96,070 shares in the last quarter. Nomura Holdings Inc. increased its stake in shares of Ironwood Pharmaceuticals by 30.6% in the 4th quarter. Nomura Holdings Inc. now owns 66,622 shares of the biotechnology company’s stock worth $688,000 after acquiring an additional 15,614 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Ironwood Pharmaceuticals by 49.1% in the 4th quarter. Rhumbline Advisers now owns 186,301 shares of the biotechnology company’s stock worth $1,930,000 after acquiring an additional 61,344 shares in the last quarter. Institutional investors own 98.89% of the company’s stock.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.
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