Ironwood Pharmaceuticals (NASDAQ:IRWD) Lowered to “Hold” at BidaskClub

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BidaskClub cut shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) from a buy rating to a hold rating in a research report sent to investors on Saturday morning, BidAskClub reports.

Several other equities analysts also recently issued reports on IRWD. ValuEngine raised shares of Ironwood Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, January 7th. Cowen set a $12.00 price target on shares of Ironwood Pharmaceuticals and gave the company a hold rating in a research note on Friday, September 13th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $14.50.

Shares of Ironwood Pharmaceuticals stock opened at $12.95 on Friday. Ironwood Pharmaceuticals has a fifty-two week low of $7.91 and a fifty-two week high of $15.21. The firm has a market capitalization of $1.96 billion, a P/E ratio of -13.63 and a beta of 1.91. The company’s 50 day moving average price is $12.92 and its two-hundred day moving average price is $10.60.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, October 31st. The biotechnology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.30. Ironwood Pharmaceuticals had a negative net margin of 9.67% and a negative return on equity of 15.83%. The firm had revenue of $131.17 million for the quarter, compared to analyst estimates of $97.10 million. During the same quarter last year, the business posted ($0.27) earnings per share. The company’s quarterly revenue was up 99.7% on a year-over-year basis. Research analysts expect that Ironwood Pharmaceuticals will post 0.49 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in IRWD. Amundi Pioneer Asset Management Inc. bought a new position in shares of Ironwood Pharmaceuticals during the first quarter valued at $63,000. Prudential Financial Inc. raised its stake in shares of Ironwood Pharmaceuticals by 9.6% during the second quarter. Prudential Financial Inc. now owns 14,124 shares of the biotechnology company’s stock valued at $155,000 after acquiring an additional 1,240 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Ironwood Pharmaceuticals during the second quarter valued at $135,000. Bank of Montreal Can raised its stake in Ironwood Pharmaceuticals by 583.9% during the second quarter. Bank of Montreal Can now owns 15,373 shares of the biotechnology company’s stock worth $168,000 after buying an additional 13,125 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Ironwood Pharmaceuticals by 6.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 906,657 shares of the biotechnology company’s stock worth $9,919,000 after buying an additional 56,283 shares during the last quarter.

Ironwood Pharmaceuticals Company Profile

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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Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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