Analysts Set Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) PT at $8.60

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $8.60.

IRWD has been the topic of several recent analyst reports. StockNews.com cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. JMP Securities lowered their price objective on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a report on Thursday, January 30th. Finally, Craig Hallum lowered their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd.

Insider Activity

In related news, CEO Thomas A. Mccourt sold 139,064 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $244,752.64. Following the completion of the transaction, the chief executive officer now directly owns 1,160,634 shares in the company, valued at $2,042,715.84. The trade was a 10.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $72,633.44. Following the completion of the transaction, the chief marketing officer now owns 554,007 shares of the company’s stock, valued at approximately $975,052.32. The trade was a 6.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,381 shares of company stock worth $338,591. Insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. KBC Group NV grew its position in Ironwood Pharmaceuticals by 59.3% in the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 3,198 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Ironwood Pharmaceuticals by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,932 shares of the biotechnology company’s stock worth $150,000 after purchasing an additional 3,209 shares during the period. Quantinno Capital Management LP grew its position in Ironwood Pharmaceuticals by 40.0% in the 3rd quarter. Quantinno Capital Management LP now owns 19,191 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 5,482 shares during the period. Swiss National Bank grew its position in Ironwood Pharmaceuticals by 2.2% in the 4th quarter. Swiss National Bank now owns 282,700 shares of the biotechnology company’s stock worth $1,252,000 after purchasing an additional 6,000 shares during the period. Finally, Teacher Retirement System of Texas grew its position in Ironwood Pharmaceuticals by 19.6% in the 4th quarter. Teacher Retirement System of Texas now owns 42,893 shares of the biotechnology company’s stock worth $190,000 after purchasing an additional 7,020 shares during the period.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD stock opened at $1.41 on Monday. Ironwood Pharmaceuticals has a 52-week low of $1.34 and a 52-week high of $9.10. The company has a market capitalization of $225.64 million, a PE ratio of -47.00 and a beta of 0.37. The business’s fifty day moving average is $2.27 and its 200 day moving average is $3.50.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $90.55 million during the quarter, compared to the consensus estimate of $93.85 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. On average, sell-side analysts forecast that Ironwood Pharmaceuticals will post 0.1 EPS for the current fiscal year.

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.