Ironwood Pharmaceuticals (NASDAQ:IRWD) has been assigned a $13.00 price target by analysts at HC Wainwright in a report released on Monday. The firm currently has a “sell” rating on the biotechnology company’s stock. HC Wainwright’s price target would suggest a potential downside of 28.85% from the company’s current price.
IRWD has been the subject of a number of other reports. BidaskClub cut shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Wells Fargo & Co set a $23.00 price target on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 8th. ValuEngine raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Finally, Cowen reaffirmed a “market perform” rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, July 18th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Ironwood Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $19.00.
Shares of NASDAQ IRWD opened at $18.27 on Monday. Ironwood Pharmaceuticals has a 52-week low of $12.89 and a 52-week high of $21.20. The firm has a market cap of $2.65 billion, a PE ratio of -19.65 and a beta of 0.77. The company has a debt-to-equity ratio of -8.64, a current ratio of 2.94 and a quick ratio of 2.93.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Monday, August 6th. The biotechnology company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.09). Ironwood Pharmaceuticals had a negative return on equity of 2,073.20% and a negative net margin of 34.03%. The business had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $82.61 million. During the same period last year, the company posted ($0.28) earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. sell-side analysts expect that Ironwood Pharmaceuticals will post -0.82 EPS for the current fiscal year.
In other news, Director Julie Mchugh sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $19.10, for a total value of $28,650.00. Following the sale, the director now owns 91,131 shares in the company, valued at approximately $1,740,602.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas A. Mccourt sold 30,000 shares of the company’s stock in a transaction dated Friday, July 6th. The shares were sold at an average price of $20.00, for a total transaction of $600,000.00. Following the completion of the sale, the insider now owns 30,000 shares in the company, valued at approximately $600,000. The disclosure for this sale can be found here. Insiders sold a total of 191,239 shares of company stock worth $3,614,206 in the last quarter. 7.63% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of IRWD. OppenheimerFunds Inc. acquired a new stake in shares of Ironwood Pharmaceuticals in the 1st quarter valued at about $39,903,000. Point72 Asset Management L.P. raised its stake in shares of Ironwood Pharmaceuticals by 1,569.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,085,106 shares of the biotechnology company’s stock valued at $20,747,000 after purchasing an additional 1,020,106 shares in the last quarter. FMR LLC raised its stake in shares of Ironwood Pharmaceuticals by 3.1% in the 2nd quarter. FMR LLC now owns 18,088,500 shares of the biotechnology company’s stock valued at $345,852,000 after purchasing an additional 547,724 shares in the last quarter. Mizuho Securities USA LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the 2nd quarter valued at about $3,270,000. Finally, First Republic Investment Management Inc. raised its stake in shares of Ironwood Pharmaceuticals by 646.5% in the 2nd quarter. First Republic Investment Management Inc. now owns 187,052 shares of the biotechnology company’s stock valued at $3,576,000 after purchasing an additional 161,994 shares in the last quarter. Institutional investors and hedge funds own 96.94% 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; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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