Ironwood Pharmaceuticals (NASDAQ:IRWD) Rating Lowered to Buy at StockNews.com

StockNews.com cut shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

Other analysts have also recently issued reports about the company. Leerink Partners started coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They set a “market perform” rating and a $5.00 price target on the stock. Wells Fargo & Company reduced their price target on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $12.00 to $4.00 in a report on Thursday, August 8th. Craig Hallum reduced their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

Ironwood Pharmaceuticals Price Performance

IRWD stock opened at $4.21 on Tuesday. The stock has a market capitalization of $672.51 million, a price-to-earnings ratio of -135.00 and a beta of 0.47. The business’s fifty day moving average price is $4.28 and its two-hundred day moving average price is $5.51. Ironwood Pharmaceuticals has a fifty-two week low of $3.79 and a fifty-two week high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The company had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. Research analysts expect that Ironwood Pharmaceuticals will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in IRWD. Mirae Asset Global Investments Co. Ltd. lifted its stake in Ironwood Pharmaceuticals by 5.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,683 shares of the biotechnology company’s stock valued at $825,000 after buying an additional 4,522 shares during the period. Texas Permanent School Fund Corp lifted its stake in Ironwood Pharmaceuticals by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 120,245 shares of the biotechnology company’s stock valued at $1,047,000 after buying an additional 1,557 shares during the period. SG Americas Securities LLC acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at approximately $91,000. Inspire Investing LLC lifted its stake in Ironwood Pharmaceuticals by 20.7% in the first quarter. Inspire Investing LLC now owns 40,769 shares of the biotechnology company’s stock valued at $355,000 after buying an additional 6,992 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at approximately $110,000.

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.