Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) had its price target lowered by Mizuho from $24.00 to $19.00 in a research note published on Monday morning. The brokerage currently has a buy rating on the stock.
Several other research firms have also weighed in on IRWD. Leerink Swann reiterated a market perform rating and issued a $14.00 price objective (up previously from $10.00) on shares of Ironwood Pharmaceuticals in a research note on Monday, August 8th. Zacks Investment Research lowered shares of Ironwood Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, August 5th. Wedbush reiterated a neutral rating and issued a $10.00 price objective on shares of Ironwood Pharmaceuticals in a research note on Friday, June 24th. BTIG Research reiterated a buy rating and issued a $18.00 price objective (up previously from $15.00) on shares of Ironwood Pharmaceuticals in a research note on Friday, September 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the company an overweight rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $15.18.
Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 14.11 on Monday. Ironwood Pharmaceuticals has a 12 month low of $7.35 and a 12 month high of $16.17. The stock has a 50 day moving average of $14.76 and a 200 day moving average of $12.91. The company’s market capitalization is $2.05 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by $0.01. The company earned $54.40 million during the quarter, compared to the consensus estimate of $54.49 million. Ironwood Pharmaceuticals had a negative net margin of 45.21% and a negative return on equity of 94.75%. The business’s revenue was up 96.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.34) EPS. Equities analysts anticipate that Ironwood Pharmaceuticals will post ($0.75) EPS for the current fiscal year.
In other news, Director Lawrence S. Olanoff sold 3,200 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $13.72, for a total transaction of $43,904.00. Following the completion of the sale, the director now owns 29,305 shares of the company’s stock, valued at $402,064.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 7.17% of the company’s stock.
A number of hedge funds have recently made changes to their positions in IRWD. BNP Paribas Arbitrage SA raised its stake in shares of Ironwood Pharmaceuticals by 114.2% in the third quarter. BNP Paribas Arbitrage SA now owns 10,767 shares of the company’s stock worth $171,000 after buying an additional 5,741 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ironwood Pharmaceuticals during the second quarter worth approximately $144,000. Parametrica Management Ltd acquired a new stake in shares of Ironwood Pharmaceuticals during the second quarter worth approximately $150,000. Prudential Financial Inc. raised its stake in shares of Ironwood Pharmaceuticals by 12.5% in the second quarter. Prudential Financial Inc. now owns 12,614 shares of the company’s stock worth $165,000 after buying an additional 1,400 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Ironwood Pharmaceuticals by 3.0% in the second quarter. Amalgamated Bank now owns 13,668 shares of the company’s stock worth $182,000 after buying an additional 397 shares during the last quarter. 93.96% of the stock is owned by institutional investors.
Ironwood Pharmaceuticals Company Profile