Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price hit a new 52-week low on Monday . The stock traded as low as $9.07 and last traded at $9.09, with a volume of 3139371 shares trading hands. The stock had previously closed at $9.46.
Several analysts have recently weighed in on the company. Wedbush upped their price objective on Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. BidaskClub lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, June 28th. HC Wainwright set a $13.00 price objective on Ironwood Pharmaceuticals and gave the company a “hold” rating in a report on Monday, June 24th. ValuEngine upgraded Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Credit Suisse Group restated a “neutral” rating on shares of Ironwood Pharmaceuticals in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Ironwood Pharmaceuticals currently has an average rating of “Hold” and an average target price of $15.15.
The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -9.57 and a beta of 1.68. The firm’s fifty day simple moving average is $10.41.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Tuesday, July 30th. The biotechnology company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.15. The company had revenue of $102.22 million for the quarter, compared to analysts’ expectations of $89.28 million. During the same period in the prior year, the company earned ($0.22) earnings per share. The company’s revenue for the quarter was up 26.0% on a year-over-year basis.
In other news, insider Halley E. Gilbert sold 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $10.00, for a total transaction of $200,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Advisers LP lifted its stake in Ironwood Pharmaceuticals by 22.8% in the 4th quarter. Two Sigma Advisers LP now owns 43,157 shares of the biotechnology company’s stock worth $447,000 after acquiring an additional 8,000 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Ironwood Pharmaceuticals in the 1st quarter worth about $799,000. First Manhattan Co. lifted its stake in Ironwood Pharmaceuticals by 206.1% in the 1st quarter. First Manhattan Co. now owns 39,564 shares of the biotechnology company’s stock worth $535,000 after acquiring an additional 26,639 shares in the last quarter. Norges Bank purchased a new stake in Ironwood Pharmaceuticals in the 4th quarter worth about $19,568,000. Finally, Peregrine Capital Management LLC purchased a new stake in Ironwood Pharmaceuticals in the 2nd quarter worth about $13,487,000. 99.71% of the stock is owned by institutional investors and hedge funds.
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; 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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