Ironwood Pharmaceuticals Inc. (IRWD) Reaches New 12-Month High at $13.32
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) shares 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 traded. The stock had previously closed at $13.15.
A number of analysts have recently issued reports on IRWD shares. Goldman Sachs Group Inc. started coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, March 21st. They issued a “neutral” rating and a $14.00 price objective for the company. Zacks Investment Research raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, April 20th. Mizuho increased their price objective on shares of Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, May 10th. Wood & Company started coverage on shares of Ironwood Pharmaceuticals in a research note on Wednesday, March 23rd. They issued a “positive” rating for the company. Finally, Cowen and Company raised shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $12.00 to $16.00 in a research note on Wednesday, April 6th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $13.50.
The firm’s market capitalization is $1.89 billion. The company’s 50-day moving average is $12.60 and its 200-day moving average is $10.88.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.08) EPS for the quarter, beating the 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) earnings per share. The business’s revenue was up 128.4% on a year-over-year basis. Equities research analysts forecast that Ironwood Pharmaceuticals Inc. will post ($0.61) EPS for the current fiscal year.
In related news, Director Lawrence S. Olanoff sold 2,200 shares of the business’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 transaction, the director now directly owns 32,505 shares in the company, valued at approximately $419,964.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Halley E. Gilbert sold 20,275 shares of the business’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $12.19, for a total transaction of $247,152.25. Following the completion of the transaction, the insider now owns 5,865 shares of the company’s stock, valued at $71,494.35. The disclosure for this sale can be found here.
Several institutional investors have recently bought and sold shares of IRWD. Janus Capital Management boosted its position in 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. Nationwide Fund Advisors boosted its position in 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 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. Rhumbline Advisers boosted its position in 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, Oxford Asset Management purchased a new position in Ironwood Pharmaceuticals during the fourth quarter valued at about $4,235,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.