Zacks Investment Research downgraded shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) from a hold rating to a sell rating in a research note released on Tuesday.
According to Zacks, “Ironwood’s dependence on Linzess for growth is concerning. Performance of Linzess has been uneven, encouraging at times and falling below expectations at others based on customer buying patterns. Moreover, competition in CIC and IBS-C, Linzess’ target markets is intensifying. Any Linzess-related pipeline/regulatory setbacks will weigh heavily on the stock, as the rest of its pipeline is mostly mid-stage in nature. Also, the uptake of Zurampic, Ironwood’s second marketed drug, has been slow and expectations from new launched combination gout drug, Duzallo, are quite low. Investor focus should be on Ironwood’s pipeline updates. Shares have underperformed the industry in the past one year. Loss estimates have been stable lately ahead of the company’s Q3 earnings release. The company has a mixed record of earnings surprises in recent quarters. “
Other analysts have also recently issued research reports about the company. Credit Suisse Group began coverage on Ironwood Pharmaceuticals in a research report on Monday, November 27th. They set a buy rating and a $19.00 price target for the company. Mizuho cut Ironwood Pharmaceuticals from a buy rating to a neutral rating and lowered their price target for the stock from $20.00 to $16.00 in a research report on Wednesday, December 6th. ValuEngine cut Ironwood Pharmaceuticals from a hold rating to a sell rating in a research report on Monday, October 2nd. BidaskClub cut Ironwood Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, December 7th. Finally, Morgan Stanley reissued a hold rating on shares of Ironwood Pharmaceuticals in a report on Monday, December 4th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Ironwood Pharmaceuticals presently has an average rating of Hold and an average price target of $17.56.
Shares of Ironwood Pharmaceuticals (IRWD) traded up $0.02 on Tuesday, reaching $15.12. The company’s stock had a trading volume of 2,317,854 shares, compared to its average volume of 1,135,058. Ironwood Pharmaceuticals has a 12 month low of $13.43 and a 12 month high of $19.94. The company has a current ratio of 4.87, a quick ratio of 4.86 and a debt-to-equity ratio of -22.31. The firm has a market cap of $2,261.30, a PE ratio of -15.59 and a beta of 1.45.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.07. Ironwood Pharmaceuticals had a negative return on equity of 645.22% and a negative net margin of 48.89%. The company had revenue of $86.80 million during the quarter, compared to analysts’ expectations of $73.59 million. During the same quarter in the previous year, the firm posted ($0.18) EPS. The firm’s revenue was up 31.3% compared to the same quarter last year. equities research analysts predict that Ironwood Pharmaceuticals will post -1.12 EPS for the current fiscal year.
In other news, CEO Peter M. Hecht sold 113,405 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was 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 owns 4,696,917 shares of the company’s stock, valued at approximately $71,017,385.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 115,769 shares of company stock valued at $1,752,491. Insiders own 7.63% of the company’s stock.
Several hedge funds have recently modified their holdings of IRWD. First Trust Advisors LP increased its stake in shares of Ironwood Pharmaceuticals by 20.3% in the 2nd quarter. First Trust Advisors LP now owns 94,732 shares of the biotechnology company’s stock valued at $1,789,000 after purchasing an additional 16,018 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Ironwood Pharmaceuticals by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 47,773 shares of the biotechnology company’s stock valued at $900,000 after purchasing an additional 2,265 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake 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 valued at $322,000 after purchasing an additional 14,441 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Ironwood Pharmaceuticals by 276.4% in the 2nd quarter. Principal Financial Group Inc. now owns 90,522 shares of the biotechnology company’s stock valued at $1,709,000 after purchasing an additional 66,471 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Ironwood Pharmaceuticals by 2.5% in the 2nd quarter. Swiss National Bank now owns 210,500 shares of the biotechnology company’s stock valued at $3,974,000 after purchasing an additional 5,200 shares in the last quarter.
WARNING: This article was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/01/13/ironwood-pharmaceuticals-irwd-downgraded-to-sell-at-zacks-investment-research.html.
Ironwood Pharmaceuticals Company Profile
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.
Receive News & Ratings for Ironwood Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.