Ironwood Pharmaceuticals Inc. (IRWD) Hits New 12-Month High at $13.32
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD)’s share price reached a new 52-week high on Thursday . The stock traded as high as $13.32 and last traded at $13.02, with a volume of 533,608 shares changing hands. The stock had previously closed at $13.15.
Several equities analysts have recently weighed in on IRWD shares. Wood & Company started coverage on Ironwood Pharmaceuticals in a research report on Wednesday, March 23rd. They issued a “positive” rating on the stock. Cowen and Company upgraded Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the company from $12.00 to $16.00 in a research report on Wednesday, April 6th. Wedbush reiterated a “neutral” rating and set a $10.00 price objective (up previously from $9.00) on shares of Ironwood Pharmaceuticals in a research report on Thursday, April 28th. Zacks Investment Research upgraded Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, March 18th. Finally, Mizuho lifted their price objective on Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, May 10th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.50.
The firm’s market capitalization is $1.93 billion. The stock has a 50 day moving average of $12.72 and a 200-day moving average of $10.91.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Monday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.06. The business had revenue of $66 million for the quarter, compared to analyst estimates of $52.97 million. During the same quarter in the previous year, the firm posted ($0.24) EPS. The business’s revenue for the quarter was up 128.4% on a year-over-year basis. Equities analysts expect that Ironwood Pharmaceuticals Inc. will post ($0.60) EPS for the current year.
In related news, insider Halley E. Gilbert sold 20,275 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $12.19, for a total value of $247,152.25. Following the sale, the insider now owns 5,865 shares in the company, valued at approximately $71,494.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence S. Olanoff sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $12.92, for a total value of $28,424.00. Following the completion of the sale, the director now owns 32,505 shares in the company, valued at approximately $419,964.60. The disclosure for this sale can be found here.
Other large investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors boosted its stake in Ironwood Pharmaceuticals by 1.7% in the fourth quarter. Nationwide Fund Advisors now owns 112,315 shares of the company’s stock worth $1,302,000 after buying an additional 1,851 shares in the last quarter. ProShare Advisors LLC boosted its stake in Ironwood Pharmaceuticals by 10.9% in the fourth quarter. ProShare Advisors LLC now owns 120,454 shares of the company’s stock worth $1,396,000 after buying an additional 11,825 shares in the last quarter. Rhumbline Advisers boosted its stake in Ironwood Pharmaceuticals by 11.6% in the fourth quarter. Rhumbline Advisers now owns 123,715 shares of the company’s stock worth $1,434,000 after buying an additional 12,840 shares in the last quarter. Alps Advisors Inc. purchased a new stake in Ironwood Pharmaceuticals during the fourth quarter worth $1,939,000. Finally, California State Teachers Retirement System boosted its stake in Ironwood Pharmaceuticals by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 233,338 shares of the company’s stock worth $2,704,000 after buying an additional 3,727 shares in the last quarter.
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders.
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