Zacks Research upgraded shares of Ironwood Pharmaceuticals (NASDAQ:IRWD – Free Report) from a hold rating to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.
Other equities analysts have also recently issued reports about the company. Wall Street Zen upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Weiss Ratings restated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.23.
Read Our Latest Research Report on Ironwood Pharmaceuticals
Ironwood Pharmaceuticals Trading Up 5.1%
Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Free Report) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The business had revenue of $106.51 million for the quarter, compared to the consensus estimate of $92.11 million. Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. Research analysts forecast that Ironwood Pharmaceuticals will post 1.04 earnings per share for the current fiscal year.
Insider Transactions at Ironwood Pharmaceuticals
In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 21,571 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.73, for a total value of $80,459.83. Following the sale, the director directly owned 250,749 shares in the company, valued at $935,293.77. This represents a 7.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its position in shares of Ironwood Pharmaceuticals by 21.4% in the third quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock worth $25,000 after buying an additional 3,406 shares in the last quarter. LSV Asset Management purchased a new position in Ironwood Pharmaceuticals during the fourth quarter worth about $30,000. Captrust Financial Advisors bought a new position in Ironwood Pharmaceuticals in the 2nd quarter worth about $32,000. Jump Financial LLC bought a new position in Ironwood Pharmaceuticals in the 4th quarter worth about $34,000. Finally, DGS Capital Management LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter valued at about $35,000.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.
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