Ironwood Pharmaceuticals Inc. (IRWD) Reaches New 12-Month High at $14.36
Shares of Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $14.36 and last traded at $14.16, with a volume of 298,223 shares traded. The stock had previously closed at $14.07.
IRWD has been the topic of several analyst reports. Mizuho increased their price target on shares of Ironwood Pharmaceuticals from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. Wedbush reissued a “neutral” rating and issued a $10.00 price objective on shares of Ironwood Pharmaceuticals in a research note on Thursday, July 21st. Morgan Stanley reissued a “hold” rating on shares of Ironwood Pharmaceuticals in a research note on Tuesday, April 26th. Cowen and Company raised shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $12.00 to $16.00 in a research note on Wednesday, April 6th. Finally, Zacks Investment Research raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 11th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $14.67.
The stock’s 50-day moving average is $13.14 and its 200-day moving average is $11.12. The firm’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, beating the 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. During the same period last year, the firm earned ($0.24) EPS. The business’s revenue for the quarter was up 128.4% on a year-over-year basis. On average, analysts forecast that Ironwood Pharmaceuticals Inc. will post ($0.58) EPS for the current fiscal year.
In other news, insider Halley E. Gilbert sold 20,275 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The shares were 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 of the company’s stock, valued at $71,494.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lawrence S. Olanoff sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $12.92, for a total transaction of $28,424.00. Following the completion of the sale, the director now directly owns 32,505 shares in the company, valued at approximately $419,964.60. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of IRWD. Nationwide Fund Advisors boosted 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 valued at $1,302,000 after buying an additional 1,851 shares in the last quarter. California State Teachers Retirement System boosted 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 valued at $2,704,000 after buying an additional 3,727 shares in the last quarter. ProShare Advisors LLC boosted 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 valued at $1,396,000 after buying an additional 11,825 shares in the last quarter. Rhumbline Advisers boosted 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 valued at $1,434,000 after buying an additional 12,840 shares in the last quarter. Finally, Janus Capital Management boosted 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 valued at $165,569,000 after buying an additional 309,541 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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