Wall Street Zen upgraded shares of Ironwood Pharmaceuticals (NASDAQ:IRWD – Free Report) from a buy rating to a strong-buy rating in a research note released on Saturday morning.
IRWD has been the topic of a number of other research reports. Zacks Research lowered shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Weiss Ratings raised shares of Ironwood Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.23.
Check Out Our Latest Stock Report on IRWD
Ironwood Pharmaceuticals Trading Down 3.7%
Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $113.04 million during the quarter, compared to the consensus estimate of $114.84 million. Ironwood Pharmaceuticals had a negative return on equity of 58.38% and a net margin of 33.36%. On average, analysts predict that Ironwood Pharmaceuticals will post 1.04 earnings per share for the current year.
Insider Transactions at Ironwood Pharmaceuticals
In related news, Director Julie Mchugh sold 21,571 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.73, for a total transaction of $80,459.83. Following the transaction, the director directly owned 250,749 shares of the company’s stock, valued at approximately $935,293.77. This trade represents a 7.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ronald Silver sold 127,890 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $4.52, for a total value of $578,062.80. Following the completion of the sale, the insider owned 313,680 shares of the company’s stock, valued at $1,417,833.60. The trade was a 28.96% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 9.30% of the company’s stock.
Institutional Investors Weigh In On Ironwood Pharmaceuticals
A number of institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC raised its position in Ironwood Pharmaceuticals by 21.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 3,406 shares during the period. LSV Asset Management purchased a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at about $30,000. Captrust Financial Advisors bought a new position in shares of Ironwood Pharmaceuticals during the second quarter valued at about $32,000. Jump Financial LLC bought a new position in shares of Ironwood Pharmaceuticals during the fourth quarter valued at about $34,000. Finally, DGS Capital Management LLC purchased a new position in shares of Ironwood Pharmaceuticals in the fourth quarter worth about $35,000.
Ironwood Pharmaceuticals Company Profile
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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