Ironwood Pharmaceuticals (IRWD) Now Covered by Credit Suisse Group

Investment analysts at Credit Suisse Group assumed coverage on shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) in a report released on Monday, November 27th. The brokerage set a “buy” rating and a $19.00 price target on the biotechnology company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 20.25% from the company’s previous close.

Several other analysts also recently commented on the stock. BidaskClub downgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Mizuho reaffirmed a “buy” rating and set a $23.00 price objective (up previously from $22.00) on shares of Ironwood Pharmaceuticals in a research report on Wednesday, August 2nd. Cowen set a $20.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, ValuEngine raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.88.

Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) traded down $0.45 during midday trading on Monday, reaching $15.80. 1,535,800 shares of the company were exchanged, compared to its average volume of 1,306,181. Ironwood Pharmaceuticals has a 1-year low of $13.43 and a 1-year high of $19.94. The company has a debt-to-equity ratio of -22.31, a current ratio of 4.87 and a quick ratio of 4.86.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.07. The business had revenue of $86.80 million during the quarter, compared to the consensus estimate of $73.59 million. Ironwood Pharmaceuticals had a negative net margin of 48.89% and a negative return on equity of 645.22%. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.18) EPS. analysts forecast that Ironwood Pharmaceuticals will post -1.12 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its stake in Ironwood Pharmaceuticals by 4.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 120,888 shares of the biotechnology company’s stock valued at $1,906,000 after acquiring an additional 5,513 shares in the last quarter. California Public Employees Retirement System lifted its stake in Ironwood Pharmaceuticals by 7.1% during the 3rd quarter. California Public Employees Retirement System now owns 246,617 shares of the biotechnology company’s stock valued at $3,889,000 after acquiring an additional 16,417 shares in the last quarter. Granahan Investment Management Inc. MA lifted its stake in Ironwood Pharmaceuticals by 24.5% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 436,000 shares of the biotechnology company’s stock valued at $6,876,000 after acquiring an additional 85,904 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Ironwood Pharmaceuticals by 30.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,405 shares of the biotechnology company’s stock valued at $369,000 after acquiring an additional 5,527 shares in the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management bought a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at $170,000.

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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.

Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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