Ironwood Pharmaceuticals (IRWD) was Reiterated by Wedbush to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 10 from a previous price target of $9 . Wedbush advised their investors in a research report released on Apr 28, 2016.
Many Wall Street Analysts have commented on Ironwood Pharmaceuticals. Ironwood Pharmaceuticals was Initiated by Goldman to “Neutral” on Mar 21, 2016. Shares were Reiterated by Wedbush on Feb 19, 2016 to “Neutral” and Lowered the Price Target to $ 9 from a previous price target of $10 .
On the company’s financial health, Ironwood Pharmaceuticals reported $-0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $-0.16. The company had revenue of $53.30 million for the quarter, compared to analysts expectations of $45.94 million. The company’s revenue was up 40.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.27 EPS.
Ironwood Pharmaceuticals opened for trading at $10.12 and hit $10.74 on the upside on Wednesday, eventually ending the session at $10.49, with a gain of 2.34% or 0.24 points. The heightened volatility saw the trading volume jump to 37,28,628 shares. Company has a market cap of $1,504 M.
In a different news, on Mar 11, 2016, Peter M Hecht (Chief Executive Officer) sold 120,000 shares at $10.72 per share price. According to the SEC, on Mar 11, 2016, Mark G Currie (Chief Scientific Officer) sold 150,000 shares at $10.86 per share price. On Mar 9, 2016, Lawrence S Olanoff (director) sold 2,200 shares at $11.11 per share price, according to the Form-4 filing with the securities and exchange commission.
Ironwood Pharmaceuticals Inc. is a pharmaceutical company. The Company has a product linaclotide which is available in the United States and Mexico under the brand name LINZESS and is available in European countries and Canada under the brand name CONSTELLA. Linaclotide is also being developed and commercialized in other parts of the world by certain of its partners. Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders. The Company in collaboration with Astellas Pharma Inc. (Astellas) is developing linaclotide for the treatment of patients with IBS-C.