Ironwood Pharmaceuticals (IRWD) Upgraded by BidaskClub to “Buy”

Ironwood Pharmaceuticals (NASDAQ:IRWD) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other research analysts have also weighed in on IRWD. ValuEngine lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. HC Wainwright set a $13.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “sell” rating in a research report on Wednesday, October 31st. Wells Fargo & Co set a $19.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, October 31st. BTIG Research set a $17.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $19.00 price objective (down previously from $22.00) on shares of Ironwood Pharmaceuticals in a research report on Wednesday, November 7th. Four analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Ironwood Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $17.06.

NASDAQ IRWD traded down $0.29 during trading on Thursday, reaching $13.11. 589,241 shares of the stock traded hands, compared to its average volume of 1,392,886. The stock has a market cap of $2.01 billion, a P/E ratio of -14.10 and a beta of 1.50. Ironwood Pharmaceuticals has a fifty-two week low of $9.07 and a fifty-two week high of $21.20.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 in the prior year, the firm posted ($0.18) earnings per share. The business’s quarterly revenue was down 20.9% on a year-over-year basis. On average, analysts forecast that Ironwood Pharmaceuticals will post -1.01 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of IRWD. Pacer Advisors Inc. acquired a new position in Ironwood Pharmaceuticals during the third quarter worth $177,000. Campbell & CO Investment Adviser LLC acquired a new position in Ironwood Pharmaceuticals during the third quarter worth $249,000. Meeder Asset Management Inc. increased its holdings in Ironwood Pharmaceuticals by 42.6% during the third quarter. Meeder Asset Management Inc. now owns 13,839 shares of the biotechnology company’s stock worth $256,000 after buying an additional 4,136 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings 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 buying an additional 16,917 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Ironwood Pharmaceuticals during the second quarter worth $1,287,000. Institutional investors and hedge funds own 93.32% 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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Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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