BTIG Research Analysts Give Ironwood Pharmaceuticals (IRWD) a $17.00 Price Target

Ironwood Pharmaceuticals (NASDAQ:IRWD) has been given a $17.00 price objective by stock analysts at BTIG Research in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. BTIG Research’s price target would indicate a potential upside of 45.18% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 26th. Wells Fargo & Co set a $19.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, October 31st. ValuEngine downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Cowen reaffirmed a “market perform” rating on shares of Ironwood Pharmaceuticals in a report on Wednesday, July 18th. Finally, HC Wainwright set a $13.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “sell” rating in a report on Wednesday, October 31st. 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 company. Ironwood Pharmaceuticals has an average rating of “Hold” and an average target price of $17.35.

Ironwood Pharmaceuticals stock traded down $0.37 during mid-day trading on Wednesday, reaching $11.71. The company’s stock had a trading volume of 53,820 shares, compared to its average volume of 1,719,167. The company has a market cap of $1.96 billion, a PE ratio of -12.60 and a beta of 1.33. Ironwood Pharmaceuticals has a twelve month low of $11.81 and a twelve month high of $21.20.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.24). The business had revenue of $68.69 million for the quarter, compared to analysts’ expectations of $93.48 million. Ironwood Pharmaceuticals’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.18) earnings per share. On average, research analysts predict that Ironwood Pharmaceuticals will post -0.87 EPS for the current year.

In other news, Director Julie Mchugh sold 1,500 shares of the business’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 completion of the transaction, the director now owns 91,131 shares of the company’s stock, valued at $1,740,602.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark G. Currie sold 130,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $18.45, for a total transaction of $2,398,500.00. Following the transaction, the insider now directly owns 791,666 shares of the company’s stock, valued at approximately $14,606,237.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 248,339 shares of company stock valued at $4,475,466. Corporate insiders own 7.63% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. OppenheimerFunds Inc. lifted its holdings in Ironwood Pharmaceuticals by 11.1% in the second quarter. OppenheimerFunds Inc. now owns 2,872,640 shares of the biotechnology company’s stock worth $54,925,000 after purchasing an additional 286,590 shares during the period. Aperio Group LLC lifted its holdings in Ironwood Pharmaceuticals by 34.2% in the second quarter. Aperio Group LLC now owns 21,185 shares of the biotechnology company’s stock worth $405,000 after purchasing an additional 5,404 shares during the period. Meeder Asset Management Inc. acquired a new stake in Ironwood Pharmaceuticals in the second quarter worth about $186,000. Schwab Charles Investment Management Inc. lifted its holdings in Ironwood Pharmaceuticals by 6.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 722,555 shares of the biotechnology company’s stock worth $13,816,000 after purchasing an additional 44,157 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in Ironwood Pharmaceuticals by 11.3% in the second quarter. Public Employees Retirement System of Ohio now owns 120,370 shares of the biotechnology company’s stock worth $2,301,000 after purchasing an additional 12,175 shares during the period. 97.29% of the stock is owned by institutional investors.

About Ironwood Pharmaceuticals

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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Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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