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.