Ironwood Pharmaceuticals (IRWD) PT Set at $11.00 by Morgan Stanley

Ironwood Pharmaceuticals (NASDAQ:IRWD) has been assigned a $11.00 price objective by investment analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday. The brokerage presently has a “sell” rating on the biotechnology company’s stock. Morgan Stanley’s price objective suggests a potential downside of 6.46% from the company’s current price.

Other analysts have also recently issued research reports about the company. BidaskClub cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 26th. Wells Fargo & Co set a $23.00 price target on Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 8th. HC Wainwright set a $13.00 price target on Ironwood Pharmaceuticals and gave the company a “sell” rating in a report on Wednesday, October 31st. Credit Suisse Group restated a “neutral” rating and issued a $19.00 price target (down previously from $22.00) on shares of Ironwood Pharmaceuticals in a report on Wednesday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $11.00 price target (down previously from $20.00) on shares of Ironwood Pharmaceuticals in a report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Ironwood Pharmaceuticals has a consensus rating of “Hold” and an average price target of $17.35.

IRWD traded down $0.32 during midday trading on Wednesday, hitting $11.76. The company’s stock had a trading volume of 533,637 shares, compared to its average volume of 1,719,167. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -12.65 and a beta of 1.33. Ironwood Pharmaceuticals has a 52-week low of $11.81 and a 52-week high of $21.20.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.24). The business had revenue of $68.69 million during the quarter, compared to the consensus estimate 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 last year, the business earned ($0.18) EPS. Equities research analysts predict that Ironwood Pharmaceuticals will post -0.87 EPS for the current year.

In other news, insider Mark G. Currie sold 116,651 shares of the business’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $17.53, for a total transaction of $2,044,892.03. Following the completion of the sale, the insider now owns 70,680 shares in the company, valued at approximately $1,239,020.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark G. Currie sold 130,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $18.45, for a total value of $2,398,500.00. Following the sale, the insider now 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. Insiders have sold a total of 248,339 shares of company stock valued at $4,475,466 in the last quarter. Company insiders own 7.63% of the company’s stock.

Several large investors have recently modified their holdings of IRWD. Meeder Asset Management Inc. acquired a new position in Ironwood Pharmaceuticals during the 2nd quarter worth approximately $186,000. Campbell & CO Investment Adviser LLC acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter worth approximately $249,000. V Wealth Management LLC acquired a new position in Ironwood Pharmaceuticals during the 2nd quarter worth approximately $258,000. PNC Financial Services Group Inc. lifted its position in Ironwood Pharmaceuticals by 17,621.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,013 shares of the biotechnology company’s stock worth $325,000 after acquiring an additional 16,917 shares in the last quarter. Finally, LPL Financial LLC lifted its position in Ironwood Pharmaceuticals by 16.3% during the 1st quarter. LPL Financial LLC now owns 21,160 shares of the biotechnology company’s stock worth $326,000 after acquiring an additional 2,959 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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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