Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has received an average recommendation of “Hold” from the twelve ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $19.86.
Several research analysts have recently weighed in on IRWD shares. ValuEngine upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. BidaskClub upgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, July 6th. Cowen reiterated a “market perform” rating on shares of Ironwood Pharmaceuticals in a report on Wednesday, July 18th. HC Wainwright started coverage on shares of Ironwood Pharmaceuticals in a report on Monday, July 23rd. They issued a “sell” rating and a $12.50 price target for the company. Finally, Wells Fargo & Co set a $23.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 8th.
In related news, insider Mark G. Currie sold 116,651 shares of the stock in a transaction on Friday, October 5th. The shares were sold at an average price of $17.53, for a total transaction of $2,044,892.03. Following the completion of the transaction, the insider now owns 70,680 shares in the company, valued at $1,239,020.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark G. Currie sold 130,000 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $18.45, for a total transaction of $2,398,500.00. Following the transaction, the insider now owns 791,666 shares of the company’s stock, valued at approximately $14,606,237.70. The disclosure for this sale can be found here. Insiders have sold 248,339 shares of company stock valued at $4,475,466 in the last 90 days. 7.63% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Ironwood Pharmaceuticals by 3.1% during the second quarter. FMR LLC now owns 18,088,500 shares of the biotechnology company’s stock worth $345,852,000 after purchasing an additional 547,724 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in Ironwood Pharmaceuticals by 11.1% during the second quarter. OppenheimerFunds Inc. now owns 2,872,640 shares of the biotechnology company’s stock worth $54,925,000 after purchasing an additional 286,590 shares during the last quarter. Northern Trust Corp boosted its holdings in Ironwood Pharmaceuticals by 5.1% during the second quarter. Northern Trust Corp now owns 1,641,866 shares of the biotechnology company’s stock worth $31,392,000 after purchasing an additional 80,100 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Ironwood Pharmaceuticals by 1,569.4% during the second quarter. Point72 Asset Management L.P. now owns 1,085,106 shares of the biotechnology company’s stock worth $20,747,000 after purchasing an additional 1,020,106 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Ironwood Pharmaceuticals by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 722,555 shares of the biotechnology company’s stock worth $13,816,000 after purchasing an additional 44,157 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.
Shares of Ironwood Pharmaceuticals stock traded down $0.44 on Wednesday, hitting $16.71. The company had a trading volume of 1,214,069 shares, compared to its average volume of 1,068,302. The stock has a market capitalization of $2.63 billion, a PE ratio of -17.97 and a beta of 0.79. Ironwood Pharmaceuticals has a twelve month low of $12.89 and a twelve month high of $21.20. The company has a quick ratio of 2.93, a current ratio of 2.94 and a debt-to-equity ratio of -8.64.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Monday, August 6th. The biotechnology company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.09). The firm had revenue of $81.10 million for the quarter, compared to the consensus estimate of $82.61 million. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.28) EPS. Equities analysts anticipate that Ironwood Pharmaceuticals will post -0.82 EPS for the current fiscal year.
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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