Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) gapped down prior to trading on Thursday . The stock had previously closed at $11.52, but opened at $11.92. Ironwood Pharmaceuticals shares last traded at $12.16, with a volume of 114669 shares.
IRWD has been the subject of a number of analyst reports. HC Wainwright set a $13.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “sell” rating in a research note on Monday, September 17th. Wells Fargo & Co set a $23.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 8th. BidaskClub cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Cowen restated a “market perform” rating on shares of Ironwood Pharmaceuticals in a research note on Wednesday, July 18th. Finally, Morgan Stanley set a $11.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “sell” rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $17.35.
The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -12.77 and a beta of 1.33.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.24). The company had revenue of $68.69 million for the quarter, compared to analysts’ expectations of $93.48 million. Ironwood Pharmaceuticals’s revenue was down 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.18) EPS. As a group, equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.75 earnings per share for the current fiscal year.
In related news, insider Mark G. Currie sold 116,651 shares of the company’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $17.53, for a total transaction of $2,044,892.03. Following the completion of the transaction, the insider now directly owns 70,680 shares in the company, valued at approximately $1,239,020.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Julie Mchugh sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $19.10, for a total transaction of $28,650.00. Following the transaction, the director now owns 91,131 shares of the company’s stock, valued at $1,740,602.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 248,339 shares of company stock valued at $4,475,466. Corporate insiders own 7.63% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Trustcore Financial Services LLC acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at $1,917,000. Fosun International Ltd acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at $6,363,000. PNC Financial Services Group Inc. raised its stake in Ironwood Pharmaceuticals by 584.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 116,489 shares of the biotechnology company’s stock valued at $2,152,000 after purchasing an additional 99,476 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Ironwood Pharmaceuticals by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 626,367 shares of the biotechnology company’s stock valued at $11,564,000 after purchasing an additional 10,717 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at $249,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.
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Ironwood Pharmaceuticals Company Profile (NASDAQ:IRWD)
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; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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