Ironwood Pharmaceuticals (NASDAQ:IRWD) Sets New 12-Month High – Here’s What Happened

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $5.78 and last traded at $5.24, with a volume of 39802325 shares changing hands. The stock had previously closed at $3.37.

Analysts Set New Price Targets

Several equities analysts have recently commented on IRWD shares. Weiss Ratings restated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday. Zacks Research downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Wells Fargo & Company lifted their price target on Ironwood Pharmaceuticals from $1.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.34.

Ironwood Pharmaceuticals Price Performance

The business’s fifty day moving average is $3.01 and its 200-day moving average is $1.75. The firm has a market cap of $795.99 million, a PE ratio of 32.75 and a beta of 0.19.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Monday, November 10th. The biotechnology company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.09 by $0.15. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. The business had revenue of $122.06 million for the quarter, compared to the consensus estimate of $74.22 million. Analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Institutional Trading of Ironwood Pharmaceuticals

A number of hedge funds have recently made changes to their positions in IRWD. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Ironwood Pharmaceuticals in the second quarter worth approximately $25,000. Integrated Wealth Concepts LLC lifted its stake in Ironwood Pharmaceuticals by 21.4% in the third quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 3,406 shares during the last quarter. R Squared Ltd grew its stake in shares of Ironwood Pharmaceuticals by 286.5% during the second quarter. R Squared Ltd now owns 38,765 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 28,735 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its stake in shares of Ironwood Pharmaceuticals by 284.6% during the second quarter. Focus Partners Advisor Solutions LLC now owns 39,743 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 29,409 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of Ironwood Pharmaceuticals in the second quarter worth approximately $32,000.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.