Ironwood Pharmaceuticals (NASDAQ:IRWD) PT Raised to $19.00

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) had its price objective lifted by Piper Sandler from $16.00 to $19.00 in a research report report published on Tuesday morning, The Fly reports.

Separately, StockNews.com upgraded Ironwood Pharmaceuticals from a buy rating to a strong-buy rating in a report on Wednesday, May 17th.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ IRWD opened at $10.97 on Tuesday. The firm has a market capitalization of $1.69 billion, a P/E ratio of 10.86 and a beta of 0.95. Ironwood Pharmaceuticals has a one year low of $9.73 and a one year high of $12.66. The company’s fifty day moving average is $10.58 and its two-hundred day moving average is $11.26.

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) last announced its earnings results on Thursday, May 4th. The biotechnology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Ironwood Pharmaceuticals had a net margin of 43.63% and a return on equity of 29.40%. The firm had revenue of $104.06 million during the quarter, compared to the consensus estimate of $100.60 million. During the same quarter in the previous year, the company posted $0.21 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, sell-side analysts forecast that Ironwood Pharmaceuticals will post 1.05 earnings per share for the current fiscal year.

Insider Transactions at Ironwood Pharmaceuticals

In other news, CEO Thomas A. Mccourt sold 30,004 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $11.41, for a total transaction of $342,345.64. Following the completion of the sale, the chief executive officer now directly owns 712,581 shares of the company’s stock, valued at approximately $8,130,549.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Thomas A. Mccourt sold 46,129 shares of the firm’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $10.67, for a total transaction of $492,196.43. Following the completion of the transaction, the chief executive officer now owns 842,064 shares in the company, valued at approximately $8,984,822.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas A. Mccourt sold 30,004 shares of the business’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $11.41, for a total value of $342,345.64. Following the completion of the transaction, the chief executive officer now directly owns 712,581 shares in the company, valued at approximately $8,130,549.21. The disclosure for this sale can be found here. Insiders sold 161,931 shares of company stock valued at $1,790,377 in the last three months. Corporate insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRWD. Raymond James & Associates increased its holdings in shares of Ironwood Pharmaceuticals by 11.1% in the first quarter. Raymond James & Associates now owns 24,117 shares of the biotechnology company’s stock worth $303,000 after acquiring an additional 2,418 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Ironwood Pharmaceuticals by 8.8% during the first quarter. Cetera Advisor Networks LLC now owns 11,021 shares of the biotechnology company’s stock worth $139,000 after buying an additional 893 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 6.2% during the first quarter. PNC Financial Services Group Inc. now owns 41,253 shares of the biotechnology company’s stock worth $518,000 after buying an additional 2,402 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Ironwood Pharmaceuticals by 55.5% during the first quarter. MetLife Investment Management LLC now owns 79,249 shares of the biotechnology company’s stock worth $997,000 after buying an additional 28,288 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Ironwood Pharmaceuticals by 4.0% during the first quarter. Rhumbline Advisers now owns 164,608 shares of the biotechnology company’s stock worth $2,071,000 after buying an additional 6,277 shares in the last quarter.

About Ironwood Pharmaceuticals

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Ironwood Pharmaceuticals, Inc is a healthcare company, which engages in the development and commercialization of Gastrointestinal (GI) products. It operates through the Human Therapeutics segment. The company was founded on January 5, 1998 and is headquartered in Boston, MA.