Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was down 6.2% on Tuesday . The stock traded as low as $16.06 and last traded at $16.25. Approximately 2,870,100 shares were traded during trading, an increase of 120% from the average daily volume of 1,305,195 shares. The stock had previously closed at $17.32.
Several equities research analysts have weighed in on IRWD shares. Cowen set a $20.00 price target on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, August 21st. Mizuho reiterated a “buy” rating and issued a $20.00 price objective (down previously from $23.00) on shares of Ironwood Pharmaceuticals in a report on Friday, August 25th. Credit Suisse Group initiated coverage on Ironwood Pharmaceuticals in a report on Monday, November 27th. They issued a “buy” rating and a $19.00 price objective on the stock. Morgan Stanley reiterated a “hold” rating on shares of Ironwood Pharmaceuticals in a report on Monday. Finally, ValuEngine raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $17.88.
The company has a current ratio of 4.87, a quick ratio of 4.86 and a debt-to-equity ratio of -22.31.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.07. Ironwood Pharmaceuticals had a negative return on equity of 645.22% and a negative net margin of 48.89%. The firm had revenue of $86.80 million during the quarter, compared to the consensus estimate of $73.59 million. During the same period last year, the business posted ($0.18) EPS. Ironwood Pharmaceuticals’s quarterly revenue was up 31.3% on a year-over-year basis. equities research analysts forecast that Ironwood Pharmaceuticals, Inc. will post -1.12 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC purchased a new position in Ironwood Pharmaceuticals during the second quarter worth $150,460,000. EcoR1 Capital LLC increased its position in Ironwood Pharmaceuticals by 29.2% during the second quarter. EcoR1 Capital LLC now owns 3,753,635 shares of the biotechnology company’s stock worth $70,869,000 after buying an additional 848,120 shares in the last quarter. Pictet Asset Management Ltd. increased its position in Ironwood Pharmaceuticals by 37.5% during the third quarter. Pictet Asset Management Ltd. now owns 2,622,507 shares of the biotechnology company’s stock worth $41,357,000 after buying an additional 715,147 shares in the last quarter. Penn Capital Management Co. Inc. increased its position in Ironwood Pharmaceuticals by 258.4% during the second quarter. Penn Capital Management Co. Inc. now owns 855,314 shares of the biotechnology company’s stock worth $16,261,000 after buying an additional 616,686 shares in the last quarter. Finally, State Street Corp increased its position in Ironwood Pharmaceuticals by 13.7% during the second quarter. State Street Corp now owns 4,530,267 shares of the biotechnology company’s stock worth $85,533,000 after buying an additional 545,464 shares in the last quarter.
Ironwood Pharmaceuticals Company Profile
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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