Ironwood Pharmaceuticals Inc. (IRWD) Stock Price Up 3.3%
Shares of Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) rose 3.3% during trading on Friday . The stock traded as high as $14.35 and last traded at $14.29, with a volume of 409,718 shares. The stock had previously closed at $13.84.
IRWD has been the topic of a number of recent research reports. Cowen and Company upgraded shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $12.00 to $16.00 in a report on Wednesday, April 6th. Wedbush reiterated a “neutral” rating and issued a $10.00 price objective (up from $9.00) on shares of Ironwood Pharmaceuticals in a report on Thursday, April 28th. Mizuho lifted their price objective on shares of Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, May 10th. Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 11th. Finally, JP Morgan Cazenove reiterated an “overweight” rating and issued a $15.00 price objective on shares of Ironwood Pharmaceuticals in a report on Thursday, April 28th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.50.
The firm’s 50-day moving average is $13.00 and its 200-day moving average is $11.03. The stock’s market capitalization is $2.06 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Monday, May 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The business had revenue of $66 million for the quarter, compared to the consensus estimate of $52.97 million. Ironwood Pharmaceuticals’s quarterly revenue was up 128.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) earnings per share. Equities analysts anticipate that Ironwood Pharmaceuticals Inc. will post ($0.59) EPS for the current fiscal year.
In other news, 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 transaction of $28,424.00. Following the transaction, the director now directly owns 32,505 shares of the company’s stock, valued at $419,964.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the insider now directly owns 5,865 shares in the company, valued at $71,494.35. The disclosure for this sale can be found here.
Other institutional investors have recently modified their holdings of the company. Janus Capital Management raised its position in shares of Ironwood Pharmaceuticals by 2.0% in the third quarter. Janus Capital Management now owns 15,889,356 shares of the company’s stock worth $165,569,000 after buying an additional 309,541 shares during the last quarter. California State Teachers Retirement System raised its position 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 worth $2,704,000 after buying an additional 3,727 shares during the last quarter. ProShare Advisors LLC raised its position 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 worth $1,396,000 after buying an additional 11,825 shares during the last quarter. Rhumbline Advisers raised its position in shares of 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 during the last quarter. Finally, Nationwide Fund Advisors raised its position 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 worth $1,302,000 after buying an additional 1,851 shares during 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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