Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Rating Reiterated by Mizuho

Mizuho reaffirmed their buy rating on shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in a research report released on Sunday, July 23rd. Mizuho currently has a $22.00 price target on the biotechnology company’s stock.

IRWD has been the subject of several other reports. ValuEngine upgraded Ironwood Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, June 2nd. Wells Fargo & Company started coverage on Ironwood Pharmaceuticals in a research note on Wednesday, May 3rd. They issued an outperform rating and a $22.00 price target for the company. Cowen and Company set a $20.00 price target on Ironwood Pharmaceuticals and gave the company a buy rating in a research note on Thursday, April 13th. BidaskClub upgraded Ironwood Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, July 6th. Finally, Wood & Company cut Ironwood Pharmaceuticals from an overweight rating to a neutral rating in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $17.89.

Ironwood Pharmaceuticals (NASDAQ IRWD) traded up 0.97% during trading on Friday, hitting $17.67. The company had a trading volume of 543,957 shares. The company’s market capitalization is $2.63 billion. Ironwood Pharmaceuticals has a one year low of $12.48 and a one year high of $19.94. The stock has a 50-day moving average of $18.36 and a 200 day moving average of $17.14.

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

In other news, insider Halley E. Gilbert sold 35,000 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $19.75, for a total value of $691,250.00. Following the completion of the transaction, the insider now directly owns 35,000 shares in the company, valued at approximately $691,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas A. Mccourt sold 30,000 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 30,000 shares of the company’s stock, valued at $546,000. The disclosure for this sale can be found here. 7.63% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth $436,000. AQR Capital Management LLC boosted its position in shares of Ironwood Pharmaceuticals by 15.1% in the fourth quarter. AQR Capital Management LLC now owns 46,418 shares of the biotechnology company’s stock valued at $710,000 after buying an additional 6,075 shares during the last quarter. Norges Bank acquired a new position in shares of Ironwood Pharmaceuticals during the fourth quarter valued at $18,285,000. Teachers Advisors LLC boosted its position in shares of 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 during the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of Ironwood Pharmaceuticals during the first quarter valued at $258,000. Hedge funds and other institutional investors own 98.20% 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.