Leerink Partners Has Lowered Expectations for Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its target price reduced by Leerink Partners from $3.00 to $1.00 in a research report released on Monday morning,Benzinga reports. Leerink Partners currently has a market perform rating on the biotechnology company’s stock.

IRWD has been the topic of a number of other research reports. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 29th. JMP Securities cut their price objective on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 30th. Citizens Jmp cut Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Craig Hallum reduced their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.80.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD stock opened at $0.65 on Monday. Ironwood Pharmaceuticals has a fifty-two week low of $0.59 and a fifty-two week high of $8.45. The stock’s 50-day moving average is $1.52 and its two-hundred day moving average is $3.10. The firm has a market cap of $104.84 million, a P/E ratio of -21.60 and a beta of 0.30.

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

Insider Activity at Ironwood Pharmaceuticals

In other news, CMO Michael Shetzline sold 41,269 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $72,633.44. Following the completion of the transaction, the chief marketing officer now owns 554,007 shares in the company, valued at approximately $975,052.32. This represents a 6.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas A. Mccourt sold 139,064 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $244,752.64. Following the sale, the chief executive officer now owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. This trade represents a 10.70 % 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. 12.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter valued at $36,000. Journey Strategic Wealth LLC bought a new position in Ironwood Pharmaceuticals during the 4th quarter valued at about $45,000. Catalyst Funds Management Pty Ltd bought a new position in Ironwood Pharmaceuticals during the 4th quarter valued at about $47,000. Xponance Inc. acquired a new position in Ironwood Pharmaceuticals in the fourth quarter valued at about $50,000. Finally, Envestnet Asset Management Inc. bought a new stake in Ironwood Pharmaceuticals during the 4th quarter worth approximately $50,000.

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.