Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was downgraded by research analysts at Wood & Company from an “overweight” rating to a “neutral” rating in a note issued to investors on Friday.
Other research analysts have also issued reports about the company. BidaskClub raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Mizuho upped their target price on Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. Cowen and Company set a $20.00 target price on Ironwood Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, April 13th. ValuEngine raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $18.00.
Ironwood Pharmaceuticals (NASDAQ:IRWD) traded up 1.441% during midday trading on Friday, hitting $17.245. 2,121,214 shares of the stock were exchanged. The company’s 50 day moving average is $18.52 and its 200 day moving average is $17.04. Ironwood Pharmaceuticals has a 1-year low of $12.48 and a 1-year high of $19.94. The company’s market capitalization is $2.56 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Monday, May 8th. The biotechnology company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.14. Ironwood Pharmaceuticals had a negative return on equity of 195.06% and a negative net margin of 46.49%. The company had revenue of $52.16 million during the quarter, compared to the consensus estimate of $69.39 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. The company’s revenue was down 21.0% on a year-over-year basis. Analysts predict that Ironwood Pharmaceuticals will post ($0.91) earnings per share for the current fiscal year.
In other Ironwood Pharmaceuticals news, insider Halley E. Gilbert sold 35,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $19.75, for a total transaction of $691,250.00. Following the completion of the transaction, the insider now owns 35,000 shares of the company’s stock, valued at $691,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas A. Mccourt sold 30,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $18.20, for a total value of $546,000.00. Following the transaction, the insider now directly owns 30,000 shares of the company’s stock, valued at approximately $546,000. The disclosure for this sale can be found here. 7.63% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in Ironwood Pharmaceuticals by 0.3% in the first quarter. Principal Financial Group Inc. now owns 24,051 shares of the biotechnology company’s stock valued at $410,000 after buying an additional 62 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Ironwood Pharmaceuticals by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,161 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 898 shares in the last quarter. Aperio Group LLC raised its position in Ironwood Pharmaceuticals by 11.9% in the second quarter. Aperio Group LLC now owns 13,213 shares of the biotechnology company’s stock valued at $249,000 after buying an additional 1,410 shares in the last quarter. Teachers Advisors LLC raised its position in Ironwood Pharmaceuticals by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 225,596 shares of the biotechnology company’s stock valued at $3,449,000 after buying an additional 1,859 shares in the last quarter. Finally, Swiss National Bank raised its position in Ironwood Pharmaceuticals by 1.2% in the first quarter. Swiss National Bank now owns 205,300 shares of the biotechnology company’s stock valued at $3,502,000 after buying an additional 2,400 shares in the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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