BTIG Research set a $17.00 target price on Ironwood Pharmaceuticals (NASDAQ:IRWD) in a research note published on Wednesday morning. The firm currently has a buy rating on the biotechnology company’s stock.
Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Ironwood Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Thursday, July 26th. Wells Fargo & Co set a $23.00 price target on shares of Ironwood Pharmaceuticals and gave the company a buy rating in a research report on Wednesday, August 8th. HC Wainwright set a $13.00 price target on shares of Ironwood Pharmaceuticals and gave the company a sell rating in a research report on Wednesday, October 31st. Finally, Cowen reiterated a market perform rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, July 18th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Ironwood Pharmaceuticals currently has an average rating of Hold and an average price target of $17.35.
Shares of IRWD stock traded down $0.20 during mid-day trading on Wednesday, reaching $11.88. The stock had a trading volume of 1,677,504 shares, compared to its average volume of 1,784,796. Ironwood Pharmaceuticals has a 52-week low of $11.62 and a 52-week high of $21.20. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -12.77 and a beta of 1.33.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.24). The business had revenue of $68.69 million for the quarter, compared to analysts’ expectations of $93.48 million. During the same quarter last year, the firm earned ($0.18) EPS. The company’s revenue for the quarter was down 20.9% on a year-over-year basis. On average, research analysts expect that Ironwood Pharmaceuticals will post -0.75 EPS for the current fiscal year.
In related news, insider Mark G. Currie sold 130,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $18.45, for a total transaction of $2,398,500.00. Following the sale, the insider now owns 791,666 shares of the company’s stock, valued at $14,606,237.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julie Mchugh sold 1,500 shares of the business’s stock in a transaction dated 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. Insiders have sold 248,339 shares of company stock worth $4,475,466 in the last quarter. 7.63% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of IRWD. Meeder Asset Management Inc. bought a new stake in Ironwood Pharmaceuticals during the second quarter worth about $186,000. Campbell & CO Investment Adviser LLC bought a new stake in Ironwood Pharmaceuticals during the third quarter worth about $249,000. V Wealth Management LLC bought a new stake in Ironwood Pharmaceuticals during the second quarter worth about $258,000. PNC Financial Services Group Inc. boosted its stake in Ironwood Pharmaceuticals by 17,621.9% during the second quarter. PNC Financial Services Group Inc. now owns 17,013 shares of the biotechnology company’s stock worth $325,000 after acquiring an additional 16,917 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Ironwood Pharmaceuticals by 16.3% during the first quarter. LPL Financial LLC now owns 21,160 shares of the biotechnology company’s stock worth $326,000 after acquiring an additional 2,959 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.
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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