Ironwood Pharmaceuticals Inc. (IRWD) Stock Price Down 1.2%
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) shares traded down 1.2% 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 recently weighed in on the stock. Cowen and Company restated a “buy” rating on shares of Ironwood Pharmaceuticals in a report on Sunday, April 17th. Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, April 20th. Wedbush restated a “neutral” rating and set a $10.00 price target (up from $9.00) on shares of Ironwood Pharmaceuticals in a report on Thursday, April 28th. Mizuho boosted their price target on shares of Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, May 10th. Finally, JP Morgan Cazenove restated an “overweight” rating and set a $15.00 price target on shares of Ironwood Pharmaceuticals in a report on Thursday, April 28th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Ironwood Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $13.50.
The firm’s market cap is $1.82 billion. The stock’s 50 day moving average is $12.81 and its 200-day moving average is $10.93.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued 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. During the same quarter in the previous year, the business earned ($0.24) earnings per share. The business earned $66 million during the quarter, compared to the consensus estimate of $52.97 million. The firm’s revenue was up 128.4% compared to the same quarter last year. On average, equities research 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 stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $12.19, for a total value of $247,152.25. Following the completion of the transaction, the insider now directly owns 5,865 shares in the company, valued at approximately $71,494.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence S. Olanoff sold 2,200 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $12.92, for a total transaction of $28,424.00. Following the completion of the transaction, the director now owns 32,505 shares of the company’s stock, valued at $419,964.60. The disclosure for this sale can be found here.
A number of hedge funds have recently added to or reduced their stakes in IRWD. Nationwide Fund Advisors raised 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 raised 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 raised 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 raised 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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