Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $3.97 and traded as high as $4.41. Ironwood Pharmaceuticals shares last traded at $4.03, with a volume of 4,985,414 shares.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Zacks Research downgraded Ironwood Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 30th. Wall Street Zen lowered Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. Jefferies Financial Group upgraded Ironwood Pharmaceuticals to a "hold" rating in a research report on Friday, September 25th. Finally, Weiss Ratings raised Ironwood Pharmaceuticals from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $6.23.
Check Out Our Latest Stock Report on Ironwood Pharmaceuticals
Ironwood Pharmaceuticals Price Performance
The firm has a market cap of $665.92 million, a P/E ratio of 5.23 and a beta of 0.25. The company's 50-day simple moving average is $3.91 and its 200 day simple moving average is $3.97.
Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last posted its earnings results on Thursday, November 5th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.04. The firm had revenue of $133.04 million for the quarter, compared to the consensus estimate of $119.99 million. Ironwood Pharmaceuticals had a net margin of 33.36% and a negative return on equity of 58.38%. Analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.10 EPS for the current fiscal year.
Institutional Investors Weigh In On Ironwood Pharmaceuticals
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its position in Ironwood Pharmaceuticals by 724.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,397,242 shares of the biotechnology company's stock valued at $11,924,000 after acquiring an additional 2,985,181 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ironwood Pharmaceuticals by 529.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,082,055 shares of the biotechnology company's stock valued at $7,307,000 after acquiring an additional 1,751,219 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of Ironwood Pharmaceuticals by 6.9% in the first quarter. Hillsdale Investment Management Inc. now owns 1,236,628 shares of the biotechnology company's stock valued at $4,341,000 after acquiring an additional 80,250 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Ironwood Pharmaceuticals in the 1st quarter worth about $3,982,000. Finally, Ritholtz Wealth Management lifted its holdings in shares of Ironwood Pharmaceuticals by 130.8% in the 3rd quarter. Ritholtz Wealth Management now owns 831,091 shares of the biotechnology company's stock worth $3,299,000 after acquiring an additional 470,997 shares during the last quarter.
About Ironwood Pharmaceuticals
(
Get Free Report)
Ironwood Pharmaceuticals, Inc is a gastrointestinal-focused biopharmaceutical company headquartered in Boston, Massachusetts. The company discovers, develops, and commercializes medicines intended to treat disorders affecting the gastrointestinal tract, with an emphasis on conditions involving gut motility and visceral sensitivity.
Ironwood's principal commercial product is Linzess (linaclotide), marketed in the United States in collaboration with AbbVie. Linzess is approved for adults with irritable bowel syndrome with constipation and chronic idiopathic constipation.
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