Ironwood Pharmaceuticals (NASDAQ:IRWD) had its target price hoisted by equities research analysts at Wedbush from $11.00 to $12.00 in a research report issued to clients and investors on Wednesday, RTT News reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. Wedbush’s price target would indicate a potential upside of 17.53% from the stock’s current price. Wedbush also issued estimates for Ironwood Pharmaceuticals’ FY2021 earnings at $0.88 EPS and FY2023 earnings at $0.94 EPS.
IRWD has been the subject of several other research reports. HC Wainwright set a $13.00 price target on shares of Ironwood Pharmaceuticals and gave the stock a “hold” rating in a report on Monday, June 24th. Credit Suisse Group restated a “neutral” rating on shares of Ironwood Pharmaceuticals in a report on Wednesday, July 10th. Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, April 16th. BidaskClub cut shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Finally, ValuEngine cut shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $15.15.
NASDAQ IRWD traded down $0.10 on Wednesday, hitting $10.21. 33,220 shares of the stock were exchanged, compared to its average volume of 1,025,893. Ironwood Pharmaceuticals has a fifty-two week low of $9.07 and a fifty-two week high of $19.77. The firm has a market cap of $1.63 billion, a P/E ratio of -10.74 and a beta of 1.68. The firm has a 50-day simple moving average of $10.65.
In other news, CFO Gina Consylman sold 4,055 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $10.53, for a total value of $42,699.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Halley E. Gilbert sold 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $10.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,555 shares of company stock valued at $259,589. Company insiders own 5.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in IRWD. Swiss National Bank raised its holdings in Ironwood Pharmaceuticals by 12.7% in the second quarter. Swiss National Bank now owns 287,700 shares of the biotechnology company’s stock valued at $3,147,000 after buying an additional 32,400 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Ironwood Pharmaceuticals by 611.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 163,300 shares of the biotechnology company’s stock valued at $1,758,000 after buying an additional 140,343 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in Ironwood Pharmaceuticals in the second quarter valued at approximately $115,000. Janus Henderson Group PLC raised its holdings in Ironwood Pharmaceuticals by 12.8% in the second quarter. Janus Henderson Group PLC now owns 7,505,293 shares of the biotechnology company’s stock valued at $82,108,000 after buying an additional 852,356 shares during the period. Finally, Aperio Group LLC raised its holdings in Ironwood Pharmaceuticals by 51.3% in the second quarter. Aperio Group LLC now owns 31,292 shares of the biotechnology company’s stock valued at $342,000 after buying an additional 10,610 shares during the period. Hedge funds and other institutional investors own 99.68% 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; 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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