Ironwood Pharmaceuticals (NASDAQ:IRWD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, January 18th.
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 Q4 earnings release. The company has a mixed record of earnings surprises in recent quarters.”
A number of other research firms also recently weighed in on IRWD. Morgan Stanley reiterated a “hold” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, December 4th. ValuEngine raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. 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 report on Wednesday, December 6th. Credit Suisse Group initiated coverage on Ironwood Pharmaceuticals in a report on Monday, November 27th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Bank of America cut Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $20.00 to $15.00 in a report on Friday, January 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Ironwood Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $17.56.
Ironwood Pharmaceuticals (NASDAQ IRWD) opened at $13.87 on Thursday. The company has a market capitalization of $2,080.00, a P/E ratio of -14.45 and a beta of 1.28. The company has a debt-to-equity ratio of -22.31, a quick ratio of 4.86 and a current ratio of 4.87. Ironwood Pharmaceuticals has a one year low of $12.89 and a one year high of $19.94.
In other Ironwood Pharmaceuticals news, CEO Peter M. Hecht sold 113,405 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 4,696,917 shares of the company’s stock, valued at $71,017,385.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark G. Currie sold 60,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $15.45, for a total value of $927,000.00. Following the completion of the sale, the insider now directly owns 835,000 shares of the company’s stock, valued at $12,900,750. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,905 shares of company stock valued at $2,666,359. Company insiders own 7.63% of the company’s stock.
Several institutional investors have recently bought and sold shares of IRWD. First Republic Investment Management Inc. bought a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at $526,000. Virtus Fund Advisers LLC boosted its stake in Ironwood Pharmaceuticals by 223.2% during the fourth quarter. Virtus Fund Advisers LLC now owns 81,044 shares of the biotechnology company’s stock valued at $1,215,000 after buying an additional 55,970 shares during the period. State of Wisconsin Investment Board boosted its stake in Ironwood Pharmaceuticals by 15.8% during the fourth quarter. State of Wisconsin Investment Board now owns 846,800 shares of the biotechnology company’s stock valued at $12,694,000 after buying an additional 115,800 shares during the period. Bailard Inc. bought a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at $345,000. Finally, Swiss National Bank boosted its stake in Ironwood Pharmaceuticals by 3.8% during the fourth quarter. Swiss National Bank now owns 218,600 shares of the biotechnology company’s stock valued at $3,277,000 after buying an additional 8,100 shares during the period.
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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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