Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $8.60.

Several equities research analysts have weighed in on IRWD shares. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 29th. Craig Hallum reduced their target price on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, JMP Securities lowered their price target on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a report on Thursday, January 30th.

Ironwood Pharmaceuticals Trading Down 1.9 %

NASDAQ:IRWD opened at $1.01 on Friday. Ironwood Pharmaceuticals has a 1-year low of $0.91 and a 1-year high of $8.45. The firm has a market capitalization of $163.43 million, a price-to-earnings ratio of -33.67 and a beta of 0.30. The business’s 50-day moving average price is $1.58 and its two-hundred day moving average price is $3.15.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The firm had revenue of $90.55 million during the quarter, compared to analyst estimates of $93.85 million. Sell-side analysts predict that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its holdings in Ironwood Pharmaceuticals by 10.4% during the fourth 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 last quarter. Quantinno Capital Management LP increased its position in shares of Ironwood Pharmaceuticals by 40.0% in the third quarter. Quantinno Capital Management LP now owns 19,191 shares of the biotechnology company’s stock valued at $79,000 after acquiring an additional 5,482 shares during the last quarter. Swiss National Bank increased its position in shares of Ironwood Pharmaceuticals by 2.2% in the fourth quarter. Swiss National Bank now owns 282,700 shares of the biotechnology company’s stock valued at $1,252,000 after acquiring an additional 6,000 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Ironwood Pharmaceuticals by 19.6% during the fourth quarter. Teacher Retirement System of Texas now owns 42,893 shares of the biotechnology company’s stock valued at $190,000 after purchasing an additional 7,020 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Ironwood Pharmaceuticals in the fourth quarter valued at approximately $36,000.

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.