Ironwood Pharmaceuticals’ (NASDAQ:IRWD) Neutral Rating Reaffirmed at J P Morgan Chase & Co

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)‘s stock had its “neutral” rating reiterated by investment analysts at J P Morgan Chase & Co in a research note issued on Friday, MarketBeat.com reports. They presently have a $19.00 price target on the biotechnology company’s stock. J P Morgan Chase & Co’s target price indicates a potential upside of 10.34% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th. Wedbush reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Ironwood Pharmaceuticals in a report on Friday, June 16th. Cowen and Company reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Ironwood Pharmaceuticals in a report on Tuesday, May 9th. Mizuho raised their price target on shares of Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Finally, BidaskClub cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 17.22 on Friday. The company’s market cap is $2.56 billion. The firm has a 50-day moving average of $18.52 and a 200-day moving average of $17.04. Ironwood Pharmaceuticals has a 52-week low of $12.48 and a 52-week high of $19.94.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Monday, May 8th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.14. The company had revenue of $52.16 million during the quarter, compared to analysts’ expectations of $69.39 million. Ironwood Pharmaceuticals had a negative return on equity of 195.06% and a negative net margin of 46.49%. The company’s quarterly revenue was down 21.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) EPS. Equities research analysts forecast that Ironwood Pharmaceuticals will post ($0.91) earnings per share for the current year.

In related news, insider Halley E. Gilbert sold 35,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $19.75, for a total transaction of $691,250.00. Following the sale, the insider now owns 35,000 shares in the company, valued at $691,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas A. Mccourt sold 30,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $18.20, for a total transaction of $546,000.00. Following the sale, the insider now owns 30,000 shares in the company, valued at approximately $546,000. The disclosure for this sale can be found here. Company insiders own 7.63% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its stake 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. V Wealth Management LLC purchased a new stake in Ironwood Pharmaceuticals during the second quarter valued at approximately $313,000. Public Employees Retirement System of Ohio purchased a new stake in Ironwood Pharmaceuticals during the first quarter valued at approximately $652,000. Point72 Asset Management L.P. raised its stake in Ironwood Pharmaceuticals by 458.4% in the first quarter. Point72 Asset Management L.P. now owns 1,628,018 shares of the biotechnology company’s stock valued at $27,774,000 after buying an additional 1,336,486 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Ironwood Pharmaceuticals during the first quarter valued at approximately $194,000. Institutional investors own 97.36% of the company’s stock.

Ironwood Pharmaceuticals Company Profile

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.