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 recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.40.

IRWD has been the topic of several recent research reports. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $12.00 to $4.00 in a report on Thursday, August 8th. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Craig Hallum cut their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company lowered their price target on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, Leerink Partners started coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a “market perform” rating and a $5.00 price objective for the company.

Ironwood Pharmaceuticals Stock Performance

NASDAQ IRWD opened at $4.21 on Tuesday. The business has a fifty day moving average price of $4.27 and a 200 day moving average price of $5.49. The company has a market cap of $672.51 million, a P/E ratio of -140.33 and a beta of 0.47. Ironwood Pharmaceuticals has a one year low of $3.79 and a one year high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its 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 business had revenue of $91.60 million during the quarter, compared to analyst estimates of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. Ironwood Pharmaceuticals’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. As a group, sell-side analysts predict that Ironwood Pharmaceuticals will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its position 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 last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Ironwood Pharmaceuticals by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 120,245 shares of the biotechnology company’s stock worth $1,047,000 after acquiring an additional 1,557 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Ironwood Pharmaceuticals during the 1st quarter worth approximately $91,000. Inspire Investing LLC increased its holdings in Ironwood Pharmaceuticals by 20.7% in the 1st quarter. Inspire Investing LLC now owns 40,769 shares of the biotechnology company’s stock valued at $355,000 after purchasing an additional 6,992 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake 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.