Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Rating Upgraded by Citizens Jmp

Ironwood Pharmaceuticals (NASDAQ:IRWD) was upgraded by equities researchers at Citizens Jmp from a “market perform” rating to a “market outperform” rating in a research note issued on Monday,Benzinga reports. The brokerage currently has a $8.00 price target on the biotechnology company’s stock. Citizens Jmp’s price objective points to a potential upside of 87.35% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Zacks Research upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, December 29th. Citigroup upgraded Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday. Finally, Wells Fargo & Company lifted their target price on Ironwood Pharmaceuticals from $1.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $5.78.

Ironwood Pharmaceuticals Stock Up 26.7%

IRWD stock opened at $4.27 on Monday. The firm has a market capitalization of $694.64 million, a PE ratio of 26.69 and a beta of 0.18. Ironwood Pharmaceuticals has a twelve month low of $0.53 and a twelve month high of $5.78. The stock’s 50 day moving average is $3.06 and its 200-day moving average is $1.80.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Monday, November 10th. The biotechnology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.09 by $0.15. The firm had revenue of $122.06 million for the quarter, compared to analysts’ expectations of $74.22 million. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. On average, equities research analysts anticipate that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming boosted its holdings in Ironwood Pharmaceuticals by 40.4% in the first quarter. State of Wyoming now owns 58,775 shares of the biotechnology company’s stock valued at $86,000 after acquiring an additional 16,917 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Ironwood Pharmaceuticals by 535.8% during the 1st quarter. AQR Capital Management LLC now owns 2,523,875 shares of the biotechnology company’s stock valued at $3,710,000 after purchasing an additional 2,126,889 shares in the last quarter. Millennium Management LLC raised its stake in Ironwood Pharmaceuticals by 186.6% in the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock worth $9,349,000 after buying an additional 4,140,439 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Ironwood Pharmaceuticals in the first quarter worth about $57,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Ironwood Pharmaceuticals by 72.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,575,416 shares of the biotechnology company’s stock worth $2,316,000 after buying an additional 660,144 shares during the period.

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.