Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives $12.17 Consensus PT from Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.17.

Several brokerages have recently issued reports on IRWD. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Craig Hallum reduced their target price on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They set a “market perform” rating and a $5.00 price objective on the stock. Finally, Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th.

Ironwood Pharmaceuticals Price Performance

Shares of NASDAQ IRWD opened at $4.40 on Friday. Ironwood Pharmaceuticals has a 1 year low of $3.79 and a 1 year high of $15.70. The stock has a market capitalization of $688.73 million, a P/E ratio of -0.65 and a beta of 0.48. The company’s 50-day moving average is $4.46 and its 200 day moving average is $5.97.

Insiders Place Their Bets

In related news, insider Minardo John sold 9,910 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $4.27, for a total value of $42,315.70. Following the completion of the transaction, the insider now directly owns 284,661 shares in the company, valued at $1,215,502.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Ironwood Pharmaceuticals by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock worth $170,031,000 after purchasing an additional 3,487,821 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 23.6% in the 2nd quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company’s stock worth $58,078,000 after buying an additional 1,701,452 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Ironwood Pharmaceuticals by 20.7% in the second quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock worth $55,889,000 after acquiring an additional 1,472,097 shares during the period. Armistice Capital LLC increased its position in Ironwood Pharmaceuticals by 44.4% during the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock valued at $50,856,000 after acquiring an additional 2,400,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Ironwood Pharmaceuticals by 40.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,235,580 shares of the biotechnology company’s stock valued at $36,892,000 after acquiring an additional 1,226,377 shares during the period.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.