Ironwood Pharmaceuticals (NASDAQ:IRWD) Reaches New 52-Week Low on Analyst Downgrade

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) shares reached a new 52-week low during trading on Friday after JMP Securities lowered their price target on the stock from $23.00 to $14.00. JMP Securities currently has a market outperform rating on the stock. Ironwood Pharmaceuticals traded as low as $2.25 and last traded at $2.30, with a volume of 10525325 shares. The stock had previously closed at $3.72.

Other equities research analysts have also recently issued research reports about the company. Craig Hallum reduced their price objective on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.67.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Ironwood Pharmaceuticals by 48.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 213,619 shares of the biotechnology company’s stock worth $1,393,000 after purchasing an additional 69,848 shares during the last quarter. Hsbc Holdings PLC increased its position in Ironwood Pharmaceuticals by 60.2% during the second quarter. Hsbc Holdings PLC now owns 25,923 shares of the biotechnology company’s stock worth $167,000 after buying an additional 9,740 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Ironwood Pharmaceuticals by 45.7% in the second quarter. AQR Capital Management LLC now owns 684,578 shares of the biotechnology company’s stock worth $4,463,000 after acquiring an additional 214,836 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the second quarter valued at $93,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Ironwood Pharmaceuticals by 24.2% during the third quarter. Handelsbanken Fonder AB now owns 59,455 shares of the biotechnology company’s stock valued at $245,000 after acquiring an additional 11,600 shares during the last quarter.

Ironwood Pharmaceuticals Stock Performance

The business has a 50-day moving average of $3.86 and a 200 day moving average of $4.44. The stock has a market cap of $374.47 million, a PE ratio of -78.00 and a beta of 0.34.

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 firm had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business’s quarterly revenue was down 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. Equities analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal year.

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.