The Wedbush Reiterates “Neutral” Rating for Ironwood Pharmaceuticals, Inc. (IRWD)

The Wedbush Reiterates “Neutral” Rating for Ironwood Pharmaceuticals, Inc. (IRWD)

Wedbush reissued their neutral rating on shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in a research note issued to investors on Friday. Wedbush currently has a $13.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Mizuho reaffirmed a buy rating and issued a $21.00 price target (up previously from $20.00) on shares of Ironwood Pharmaceuticals in a report on Friday, December 23rd. BTIG Research reaffirmed a buy rating and issued a $18.00 price target (up previously from $15.00) on shares of Ironwood Pharmaceuticals in a report on Friday, September 23rd. WallachBeth Capital upped their price target on Ironwood Pharmaceuticals from $15.00 to $17.00 and gave the company a hold rating in a report on Tuesday, September 27th. Finally, Zacks Investment Research raised Ironwood Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, October 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $15.64.

Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 15.20 on Friday. The company has a 50-day moving average price of $15.49 and a 200-day moving average price of $14.61. Ironwood Pharmaceuticals has a one year low of $7.35 and a one year high of $16.89. The firm’s market cap is $2.22 billion.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.05. The company had revenue of $66 million for the quarter, compared to analysts’ expectations of $60.01 million. Ironwood Pharmaceuticals had a negative return on equity of 94.17% and a negative net margin of 34.29%. The firm’s revenue was up 66.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.25) earnings per share. Equities analysts predict that Ironwood Pharmaceuticals will post ($0.75) earnings per share for the current fiscal year.

In other news, Director Lawrence S. Olanoff sold 3,200 shares of the business’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $15.68, for a total transaction of $50,176.00. Following the transaction, the director now directly owns 26,105 shares in the company, valued at approximately $409,326.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Peter M. Hecht sold 65,987 shares of the business’s stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $15.67, for a total transaction of $1,034,016.29. Following the transaction, the chief executive officer now owns 4,703,315 shares in the company, valued at $73,700,946.05. The disclosure for this sale can be found here. Insiders own 7.17% of the company’s stock.

Several institutional investors have recently bought and sold shares of IRWD. Prudential Financial Inc. boosted its position in Ironwood Pharmaceuticals by 12.5% in the second quarter. Prudential Financial Inc. now owns 12,614 shares of the company’s stock valued at $165,000 after buying an additional 1,400 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Ironwood Pharmaceuticals by 8.8% in the second quarter. Teacher Retirement System of Texas now owns 16,971 shares of the company’s stock valued at $222,000 after buying an additional 1,375 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in Ironwood Pharmaceuticals by 2.5% in the second quarter. UBS Asset Management Americas Inc. now owns 74,385 shares of the company’s stock valued at $973,000 after buying an additional 1,843 shares in the last quarter. Nationwide Fund Advisors boosted its position in Ironwood Pharmaceuticals by 2.7% in the second quarter. Nationwide Fund Advisors now owns 114,066 shares of the company’s stock valued at $1,491,000 after buying an additional 3,018 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Ironwood Pharmaceuticals during the second quarter valued at approximately $392,000. Institutional investors and hedge funds own 94.65% of the company’s stock.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders.

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