Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target Raised to $10.00

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its target price lifted by investment analysts at Citizens Jmp from $8.00 to $10.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the biotechnology company’s stock. Citizens Jmp’s price objective points to a potential upside of 171.74% from the company’s current price.

Several other research analysts have also recently issued reports on IRWD. Wells Fargo & Company raised their target price on shares of Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, December 29th. Zacks Research raised Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Citigroup upgraded Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, January 5th. Finally, Craig Hallum upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.18.

Ironwood Pharmaceuticals Stock Up 9.5%

Shares of Ironwood Pharmaceuticals stock traded up $0.32 on Thursday, reaching $3.68. 546,465 shares of the stock were exchanged, compared to its average volume of 5,501,308. The business has a 50 day moving average price of $4.27 and a two-hundred day moving average price of $2.80. The firm has a market capitalization of $598.66 million, a price-to-earnings ratio of 22.90 and a beta of 0.17. Ironwood Pharmaceuticals has a twelve month low of $0.53 and a twelve month high of $5.78.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Ironwood Pharmaceuticals had a negative return on equity of 15.17% and a net margin of 8.70%.The business had revenue of $47.71 million during the quarter, compared to analyst estimates of $86.10 million. Research analysts forecast that Ironwood Pharmaceuticals will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in Ironwood Pharmaceuticals by 535.8% in the first 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 during the period. Millennium Management LLC lifted its position in shares of Ironwood Pharmaceuticals by 186.6% during the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after buying an additional 4,140,439 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ironwood Pharmaceuticals during the 1st quarter valued at approximately $57,000. Goldman Sachs Group Inc. grew its stake in Ironwood Pharmaceuticals by 72.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,575,416 shares of the biotechnology company’s stock valued at $2,316,000 after acquiring an additional 660,144 shares during the period. Finally, Jane Street Group LLC increased its holdings in Ironwood Pharmaceuticals by 740.5% in the 1st quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock worth $5,160,000 after acquiring an additional 3,092,475 shares in the last quarter.

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.