Craig Hallum Issues Pessimistic Forecast for Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price objective reduced by stock analysts at Craig Hallum from $10.00 to $8.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Craig Hallum’s price objective suggests a potential upside of 112.20% from the company’s current price.

Separately, StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ironwood Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Ironwood Pharmaceuticals Trading Up 1.3 %

IRWD stock opened at $3.77 on Wednesday. The company has a market capitalization of $603.31 million, a P/E ratio of -125.67 and a beta of 0.34. The business has a 50 day simple moving average of $3.92 and a 200-day simple moving average of $4.59. Ironwood Pharmaceuticals has a twelve month low of $3.06 and a twelve month high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $91.22 million. During the same period in the previous year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. Research analysts predict that Ironwood Pharmaceuticals will post 0.08 EPS for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the completion of the transaction, the chief financial officer now directly owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.90% of the stock is owned by insiders.

Institutional Trading of Ironwood Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. EMC Capital Management lifted its holdings in Ironwood Pharmaceuticals by 693.0% in the fourth quarter. EMC Capital Management now owns 23,893 shares of the biotechnology company’s stock valued at $106,000 after acquiring an additional 20,880 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 4.0% in the 4th quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock valued at $51,967,000 after purchasing an additional 450,949 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter valued at about $53,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Ironwood Pharmaceuticals by 9.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 187,773 shares of the biotechnology company’s stock worth $832,000 after buying an additional 16,962 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Ironwood Pharmaceuticals during the third quarter worth about $78,000.

Ironwood Pharmaceuticals Company Profile

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.