Ironwood Pharmaceuticals (NASDAQ:IRWD) has been given a $18.00 target price by analysts at Wells Fargo in a note issued to investors on Monday. The firm presently has a “buy” rating on the biotechnology company’s stock. Wells Fargo’s price objective suggests a potential upside of 8.56% from the stock’s current price.
Several other brokerages have also commented on IRWD. BidaskClub lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. Bank of America lowered shares of Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $20.00 to $15.00 in a research report on Friday, January 5th. Zacks Investment Research lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, ValuEngine lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $17.14.
Shares of NASDAQ IRWD traded up $2.22 during trading on Monday, hitting $16.58. 2,364,756 shares of the company were exchanged, compared to its average volume of 1,506,420. The firm has a market capitalization of $2,166.87, a P/E ratio of -17.83 and a beta of 1.06. Ironwood Pharmaceuticals has a 1 year low of $12.89 and a 1 year high of $19.94. The company has a debt-to-equity ratio of 40.25, a quick ratio of 4.71 and a current ratio of 4.72.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.04. The company had revenue of $94.20 million for the quarter, compared to analyst estimates of $88.86 million. Ironwood Pharmaceuticals had a negative net margin of 39.20% and a negative return on equity of 2,073.20%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS. sell-side analysts forecast that Ironwood Pharmaceuticals will post -0.46 earnings per share for the current fiscal year.
In other news, CFO Gina Consylman sold 3,594 shares of Ironwood Pharmaceuticals stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $14.66, for a total transaction of $52,688.04. Following the completion of the transaction, the chief financial officer now owns 59,125 shares of the company’s stock, valued at approximately $866,772.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark G. Currie sold 60,000 shares of Ironwood Pharmaceuticals 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 transaction, the insider now directly owns 835,000 shares of the company’s stock, valued at approximately $12,900,750. The disclosure for this sale can be found here. Insiders have sold a total of 66,728 shares of company stock valued at $1,024,732 in the last ninety days. Corporate insiders own 7.63% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Brown Capital Management LLC raised its stake in shares of Ironwood Pharmaceuticals by 0.7% during the 4th quarter. Brown Capital Management LLC now owns 6,263,825 shares of the biotechnology company’s stock worth $93,895,000 after buying an additional 46,250 shares during the last quarter. Sarissa Capital Management LP acquired a new position in shares of Ironwood Pharmaceuticals during the 4th quarter worth $24,733,000. Senzar Asset Management LLC raised its stake in shares of Ironwood Pharmaceuticals by 185.8% during the 4th quarter. Senzar Asset Management LLC now owns 1,448,800 shares of the biotechnology company’s stock worth $21,718,000 after buying an additional 941,800 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Ironwood Pharmaceuticals by 3.5% during the 3rd quarter. New York State Common Retirement Fund now owns 1,404,659 shares of the biotechnology company’s stock worth $22,151,000 after buying an additional 47,675 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Ironwood Pharmaceuticals by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,239,906 shares of the biotechnology company’s stock valued at $18,586,000 after purchasing an additional 30,901 shares during the last quarter.
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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; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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