Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives $10.40 Consensus Price Target from Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has been given an average rating of “Moderate Buy” by the six research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $10.40.

A number of research firms recently issued reports on IRWD. Leerink Partners started coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price on the stock. Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Finally, StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares in the company, valued at approximately $1,263,053.76. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.90% of the company’s stock.

Institutional Trading of Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Ironwood Pharmaceuticals by 26.6% during the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock worth $46,473,000 after buying an additional 2,372,183 shares in the last quarter. State Street Corp lifted its holdings in shares of Ironwood Pharmaceuticals by 7.3% during the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after acquiring an additional 677,024 shares during the period. Renaissance Technologies LLC boosted its position in shares of Ironwood Pharmaceuticals by 20.7% during the 2nd quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock valued at $55,889,000 after acquiring an additional 1,472,097 shares in the last quarter. Armistice Capital LLC increased its stake in Ironwood Pharmaceuticals by 44.4% in the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock valued at $50,856,000 after acquiring an additional 2,400,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Ironwood Pharmaceuticals by 23.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock worth $7,846,000 after purchasing an additional 364,841 shares in the last quarter.

Ironwood Pharmaceuticals Price Performance

Shares of NASDAQ:IRWD opened at $4.51 on Wednesday. The stock has a market capitalization of $721.73 million, a P/E ratio of -150.33 and a beta of 0.41. The business has a 50-day moving average of $4.03 and a two-hundred day moving average of $4.80. Ironwood Pharmaceuticals has a fifty-two week low of $3.06 and a fifty-two week high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The company had revenue of $91.60 million during the quarter, compared to analyst estimates of $91.22 million. During the same quarter last year, the firm posted $0.12 earnings per share. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. As a group, research analysts expect that Ironwood Pharmaceuticals will post 0.08 EPS for the current fiscal year.

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.