Merrill Lynch Reiterates a Buy Rating on Ironwood PharmaBy Ryan Adsit
In a report released today, Ying Huang from Merrill Lynch reiterated a Buy rating on Ironwood Pharma (NASDAQ: IRWD), with a price target of $19. The company’s shares opened today at $16.08, close to its 52-week high of $16.89.
According to TipRanks.com, Huang is a 5-star analyst with an average return of 19.1% and a 73.7% success rate. Huang covers the Healthcare sector, focusing on stocks such as Hutchison China MediTech Ltd, Alexion Pharmaceuticals, and Aimmune Therapeutics.
Ironwood Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $17.
The company has a one year high of $16.89 and a one year low of $7.35. Currently, Ironwood Pharma has an average volume of 1.33M.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IRWD in relation to earlier this year. Earlier this month, Mark Currie, the CSO of IRWD bought 300,000 shares for a total of $882,000.
Ironwood Pharmaceuticals, Inc. is an pharmaceutical company. It discovers, develops and intends to commercialize differentiated medicines that improve patient’s lives. Its products include linaclotide, a guanylate cyclase type-C agonist being developed for the treatment of patients with irritable bowel syndrome with constipation and chronic constipation. The company was founded by Peter M. Hecht, Eric F. Summers, G. Todd Milne, Brian M. Cali, Joseph C. Cook, Jr. and Gina Bornino Miller on January 5, 1998 and is headquartered in Cambridge, MA.