Wedbush reiterated their neutral rating on shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) in a research report report published on Monday, May 6th, RTT News reports. The brokerage currently has a $11.00 price objective on the biotechnology company’s stock, down from their previous price objective of $14.00. Wedbush also issued estimates for Ironwood Pharmaceuticals’ Q3 2019 earnings at $0.05 EPS.
Several other research analysts also recently commented on the stock. BidaskClub downgraded shares of Ironwood Pharmaceuticals from a hold rating to a sell rating in a research note on Monday, May 6th. Mizuho set a $20.00 target price on shares of Ironwood Pharmaceuticals and gave the stock a buy rating in a report on Thursday, May 2nd. Morgan Stanley upgraded shares of Ironwood Pharmaceuticals from an underweight rating to an equal rating and increased their target price for the stock from $11.00 to $14.00 in a report on Wednesday, March 27th. HC Wainwright upgraded shares of Ironwood Pharmaceuticals from a sell rating to a neutral rating and increased their target price for the stock from $11.50 to $14.00 in a report on Monday, February 25th. Finally, JPMorgan Chase & Co. upgraded shares of Ironwood Pharmaceuticals from an underweight rating to a neutral rating and increased their target price for the stock from $11.00 to $13.00 in a report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $15.15.
IRWD stock traded up $0.22 during trading on Monday, hitting $10.98. The company had a trading volume of 760,900 shares, compared to its average volume of 1,504,290. The company has a market capitalization of $1.68 billion, a PE ratio of -11.56 and a beta of 1.89. Ironwood Pharmaceuticals has a 52-week low of $9.07 and a 52-week high of $21.20.
In other Ironwood Pharmaceuticals news, Director Lawrence S. Olanoff sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $14.41, for a total transaction of $28,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gina Consylman sold 4,055 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $10.53, for a total transaction of $42,699.15. The disclosure for this sale can be found here. Insiders sold a total of 281,055 shares of company stock valued at $3,718,019 over the last quarter. 5.90% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. raised its position in Ironwood Pharmaceuticals by 0.8% during the 4th quarter. American International Group Inc. now owns 92,618 shares of the biotechnology company’s stock worth $960,000 after buying an additional 712 shares during the last quarter. Principal Financial Group Inc. raised its position in Ironwood Pharmaceuticals by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 40,134 shares of the biotechnology company’s stock worth $543,000 after buying an additional 1,686 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of Ironwood Pharmaceuticals by 10.6% during the 4th quarter. Xact Kapitalforvaltning AB now owns 27,055 shares of the biotechnology company’s stock valued at $280,000 after purchasing an additional 2,600 shares in the last quarter. CWM LLC purchased a new position in shares of Ironwood Pharmaceuticals during the 4th quarter valued at approximately $31,000. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Ironwood Pharmaceuticals by 6.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 52,255 shares of the biotechnology company’s stock valued at $707,000 after purchasing an additional 3,369 shares in the last quarter. 99.22% of the stock is owned by institutional investors.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.
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