Ironwood Pharmaceuticals (IRWD) Given a $13.00 Price Target at HC Wainwright

HC Wainwright set a $13.00 price objective on Ironwood Pharmaceuticals (NASDAQ:IRWD) in a research note issued to investors on Wednesday morning. The brokerage currently has a sell rating on the biotechnology company’s stock.

A number of other research firms also recently commented on IRWD. Cowen reissued a market perform rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, July 18th. BidaskClub raised shares of Ironwood Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Friday, July 6th. Wells Fargo & Co set a $23.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, August 8th. Finally, ValuEngine downgraded shares of Ironwood Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $18.44.

NASDAQ IRWD traded up $0.56 during trading on Wednesday, reaching $14.10. 1,994,588 shares of the company’s stock traded hands, compared to its average volume of 1,510,637. Ironwood Pharmaceuticals has a 12-month low of $12.89 and a 12-month high of $21.20.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Monday, August 6th. The biotechnology company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.09). The business had revenue of $81.10 million for the quarter, compared to analyst estimates of $82.61 million. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.28) earnings per share.

In other Ironwood Pharmaceuticals news, insider Mark G. Currie sold 116,651 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 70,680 shares of the company’s stock, valued at approximately $1,239,020.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Julie Mchugh sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $19.10, for a total transaction of $28,650.00. Following the sale, the director now directly owns 91,131 shares in the company, valued at approximately $1,740,602.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 248,339 shares of company stock worth $4,475,466. 7.63% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in Ironwood Pharmaceuticals by 3.1% during the 2nd 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. grew its position in Ironwood Pharmaceuticals by 11.1% during the 2nd 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 lifted its stake in Ironwood Pharmaceuticals by 5.1% during the 2nd quarter. Northern Trust Corp now owns 1,641,866 shares of the biotechnology company’s stock valued at $31,392,000 after acquiring an additional 80,100 shares during the period. Point72 Asset Management L.P. lifted its stake in Ironwood Pharmaceuticals by 1,569.4% during 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 acquiring an additional 1,020,106 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in Ironwood Pharmaceuticals by 6.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 722,555 shares of the biotechnology company’s stock valued at $13,816,000 after acquiring an additional 44,157 shares during the period. 97.19% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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