Ironwood Pharmaceuticals (NASDAQ:IRWD) was upgraded by research analysts at Mizuho from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, May 2nd. The firm presently has a $24.00 price target on the biotechnology company’s stock, up from their prior price target of $16.00. Mizuho’s target price points to a potential upside of 32.74% from the company’s previous close.
Several other analysts have also commented on IRWD. Bank of America lowered Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and decreased their price target for the company from $20.00 to $15.00 in a research note on Friday, January 5th. Zacks Investment Research downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. BidaskClub downgraded Ironwood Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 18th. Wells Fargo set a $18.00 price objective on Ironwood Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, April 9th. Finally, ValuEngine upgraded Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Ironwood Pharmaceuticals has a consensus rating of “Hold” and an average price target of $18.60.
Shares of NASDAQ:IRWD opened at $18.08 on Wednesday. Ironwood Pharmaceuticals has a 1-year low of $18.34 and a 1-year high of $18.54. The company has a market cap of $2.78 billion, a PE ratio of -19.44 and a beta of 1.07. The company has a current ratio of 4.42, a quick ratio of 4.40 and a debt-to-equity ratio of -21.52.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Tuesday, May 1st. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.06). The firm had revenue of $69.16 million for the quarter, compared to analyst estimates of $78.65 million. Ironwood Pharmaceuticals had a negative return on equity of 2,073.20% and a negative net margin of 34.12%. Ironwood Pharmaceuticals’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.33) EPS. research analysts expect that Ironwood Pharmaceuticals will post -0.62 EPS for the current year.
In other Ironwood Pharmaceuticals news, CFO Gina Consylman sold 3,594 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $14.66, for a total value of $52,688.04. Following the completion of the transaction, the chief financial officer now directly owns 59,125 shares of the company’s stock, valued at $866,772.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 6,728 shares of company stock valued at $97,732. Insiders own 7.63% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Park West Asset Management LLC boosted its position in shares of Ironwood Pharmaceuticals by 2.7% during the first quarter. Park West Asset Management LLC now owns 630,593 shares of the biotechnology company’s stock worth $9,730,000 after buying an additional 16,635 shares during the period. Point72 Asset Management L.P. bought a new stake in Ironwood Pharmaceuticals during the first quarter worth about $1,003,000. Guggenheim Capital LLC raised its holdings in Ironwood Pharmaceuticals by 2.4% during the first quarter. Guggenheim Capital LLC now owns 188,974 shares of the biotechnology company’s stock worth $2,915,000 after acquiring an additional 4,372 shares in the last quarter. LPL Financial LLC raised its holdings in Ironwood Pharmaceuticals by 16.3% during the first quarter. LPL Financial LLC now owns 21,160 shares of the biotechnology company’s stock worth $326,000 after acquiring an additional 2,959 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in Ironwood Pharmaceuticals during the first quarter worth about $208,000.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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