Ironwood Pharmaceuticals Inc. (IRWD) Stock Price Down 1.2%
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) shares were down 1.2% during mid-day trading on Monday . The stock traded as low as $13.00 and last traded at $13.21, with a volume of 387,476 shares traded. The stock had previously closed at $13.37.
Several research analysts have recently issued reports on IRWD shares. Morgan Stanley reaffirmed a “hold” rating on shares of Ironwood Pharmaceuticals in a research note on Tuesday, April 26th. Goldman Sachs Group Inc. started coverage on Ironwood Pharmaceuticals in a research note on Monday, March 21st. They set a “neutral” rating and a $14.00 price target for the company. Cowen and Company raised Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $12.00 to $16.00 in a research note on Wednesday, April 6th. Zacks Investment Research raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 11th. Finally, Wood & Company started coverage on Ironwood Pharmaceuticals in a research note on Wednesday, March 23rd. They set a “positive” rating for the company. 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 target price of $13.50.
The company’s 50 day moving average is $12.77 and its 200-day moving average is $10.92. The firm’s market capitalization is $1.91 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly 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 earned $66 million during the quarter, compared to the consensus estimate of $52.97 million. The company’s revenue for the quarter was up 128.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.24) EPS. On average, equities analysts forecast that Ironwood Pharmaceuticals Inc. will post ($0.60) earnings per share for the current fiscal year.
In other news, insider Halley E. Gilbert sold 20,275 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 5,865 shares in the company, valued at $71,494.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lawrence S. Olanoff sold 2,200 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were 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 of the company’s stock, valued at approximately $419,964.60. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in IRWD. Alps Advisors Inc. bought a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter valued at approximately $1,939,000. ProShare Advisors LLC increased its stake in shares of Ironwood Pharmaceuticals by 10.9% in the fourth quarter. ProShare Advisors LLC now owns 120,454 shares of the company’s stock valued at $1,396,000 after buying an additional 11,825 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Ironwood Pharmaceuticals by 11.6% in the fourth quarter. Rhumbline Advisers now owns 123,715 shares of the company’s stock valued at $1,434,000 after buying an additional 12,840 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Ironwood Pharmaceuticals by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 233,338 shares of the company’s stock valued at $2,704,000 after buying an additional 3,727 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Ironwood Pharmaceuticals by 1.7% in the fourth quarter. Nationwide Fund Advisors now owns 112,315 shares of the company’s stock valued at $1,302,000 after buying an additional 1,851 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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