BidaskClub downgraded shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) from a buy rating to a hold rating in a research report report published on Monday, July 24th.
IRWD has been the topic of a number of other reports. Mizuho increased their target price on Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the stock a buy rating in a report on Friday, April 7th. Wedbush reiterated a neutral rating and issued a $13.00 target price on shares of Ironwood Pharmaceuticals in a report on Tuesday, May 9th. J P Morgan Chase & Co restated a neutral rating and set a $19.00 price objective (down from $20.00) on shares of Ironwood Pharmaceuticals in a research note on Friday, July 21st. Zacks Investment Research upgraded Ironwood Pharmaceuticals from a strong sell rating to a hold rating in a research note on Monday, July 17th. Finally, Cowen and Company restated an outperform rating and set a $20.00 price objective on shares of Ironwood Pharmaceuticals in a research note on Sunday, July 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Ironwood Pharmaceuticals presently has an average rating of Hold and an average price target of $18.00.
Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) traded down 6.97% during midday trading on Monday, hitting $15.48. 2,871,945 shares of the company were exchanged. The stock’s 50-day moving average is $18.36 and its 200-day moving average is $17.14. Ironwood Pharmaceuticals has a one year low of $12.48 and a one year high of $19.94. The stock’s market cap is $2.30 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.05. The business had revenue of $65.10 million for the quarter, compared to the consensus estimate of $70 million. Ironwood Pharmaceuticals had a negative return on equity of 195.06% and a negative net margin of 46.49%. Ironwood Pharmaceuticals’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.16) earnings per share. Equities research analysts anticipate that Ironwood Pharmaceuticals will post ($0.91) EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “BidaskClub Lowers Ironwood Pharmaceuticals, Inc. (IRWD) to Hold” was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://stocknewstimes.com/2017/08/04/bidaskclub-downgrades-ironwood-pharmaceuticals-inc-irwd-to-hold-updated.html.
In other Ironwood Pharmaceuticals news, insider Halley E. Gilbert sold 35,000 shares of the business’s 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 sale, the insider now directly owns 35,000 shares of the company’s stock, valued at $691,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas A. Mccourt sold 30,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $18.20, for a total value of $546,000.00. Following the completion of the sale, the insider now directly owns 30,000 shares in the company, valued at $546,000. The disclosure for this sale can be found here. 7.63% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Ironwood Pharmaceuticals by 5.7% in the first quarter. Vanguard Group Inc. now owns 10,505,461 shares of the biotechnology company’s stock valued at $179,223,000 after buying an additional 562,179 shares in the last quarter. Brown Capital Management LLC purchased a new position in shares of Ironwood Pharmaceuticals during the first quarter worth approximately $86,854,000. State Street Corp raised its position in shares of Ironwood Pharmaceuticals by 5.1% in the first quarter. State Street Corp now owns 3,984,803 shares of the biotechnology company’s stock worth $67,979,000 after buying an additional 193,444 shares during the last quarter. EcoR1 Capital LLC raised its stake in Ironwood Pharmaceuticals by 1.8% in the first quarter. EcoR1 Capital LLC now owns 2,905,515 shares of the biotechnology company’s stock valued at $49,568,000 after buying an additional 50,000 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Ironwood Pharmaceuticals by 16.9% in the second quarter. Pictet Asset Management Ltd. now owns 1,907,360 shares of the biotechnology company’s stock valued at $33,779,000 after buying an additional 276,168 shares during the last quarter. Hedge funds and other institutional investors own 98.20% of the company’s stock.
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.
Receive News & Ratings for Ironwood Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
