Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target Raised to $5.00 at Wells Fargo & Company

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its target price upped by analysts at Wells Fargo & Company from $3.00 to $5.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 7.48% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a report on Monday, December 29th. Citigroup upgraded shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday. Zacks Research upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, Citizens Jmp raised shares of Ironwood Pharmaceuticals from a “market perform” rating to a “market outperform” rating and set a $8.00 target price on the stock in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ironwood Pharmaceuticals currently has an average rating of “Hold” and an average target price of $6.12.

Ironwood Pharmaceuticals Price Performance

Shares of NASDAQ IRWD traded up $0.38 during midday trading on Monday, reaching $4.65. 10,951,293 shares of the company traded hands, compared to its average volume of 47,842,266. Ironwood Pharmaceuticals has a 52 week low of $0.53 and a 52 week high of $5.78. The company has a market cap of $756.79 million, a price-to-earnings ratio of 29.03 and a beta of 0.18. The stock has a 50-day moving average price of $3.06 and a 200 day moving average price of $1.80.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Monday, November 10th. The biotechnology company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.15. Ironwood Pharmaceuticals had a negative return on equity of 15.17% and a net margin of 8.70%.The business had revenue of $122.06 million during the quarter, compared to analysts’ expectations of $74.22 million. As a group, analysts expect that Ironwood Pharmaceuticals will post 0.1 EPS for the current year.

Institutional Trading of Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Ironwood Pharmaceuticals in the second quarter worth $25,000. Integrated Wealth Concepts LLC boosted its position in shares of Ironwood Pharmaceuticals by 21.4% in the 3rd 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 worth $28,000 after purchasing an additional 28,735 shares during the period. Focus Partners Advisor Solutions LLC lifted its stake in Ironwood Pharmaceuticals by 284.6% in 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 period. Finally, Captrust Financial Advisors bought a new position in Ironwood Pharmaceuticals during the second quarter worth about $32,000.

Ironwood Pharmaceuticals Company Profile

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.