Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives $8.60 Average Price Target from Analysts

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.60.

Several brokerages have recently issued reports on IRWD. Craig Hallum decreased their price objective on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Finally, JMP Securities decreased their price target on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a report on Thursday, January 30th.

Insiders Place Their Bets

In other news, CEO Thomas A. Mccourt sold 139,064 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $244,752.64. Following the transaction, the chief executive officer now owns 1,160,634 shares of the company’s stock, valued at approximately $2,042,715.84. This represents a 10.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Michael Shetzline sold 41,269 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $72,633.44. Following the transaction, the chief marketing officer now directly owns 554,007 shares in the company, valued at $975,052.32. The trade was a 6.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 192,381 shares of company stock worth $338,591 over the last quarter. Company insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in shares of Ironwood Pharmaceuticals by 4.0% during the 4th quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock worth $51,967,000 after buying an additional 450,949 shares in the last quarter. State Street Corp grew its position 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 buying an additional 677,024 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Ironwood Pharmaceuticals by 5.5% during the 4th quarter. Renaissance Technologies LLC now owns 9,066,241 shares of the biotechnology company’s stock worth $40,163,000 after buying an additional 469,043 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Ironwood Pharmaceuticals by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,306,570 shares of the biotechnology company’s stock worth $14,652,000 after buying an additional 13,028 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Ironwood Pharmaceuticals by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,983,240 shares of the biotechnology company’s stock worth $8,786,000 after buying an additional 78,969 shares in the last quarter.

Ironwood Pharmaceuticals Trading Up 2.8 %

Shares of NASDAQ:IRWD opened at $1.49 on Monday. The stock has a 50 day moving average of $2.38 and a 200 day moving average of $3.54. The company has a market cap of $238.44 million, a PE ratio of -49.67 and a beta of 0.37. Ironwood Pharmaceuticals has a 12-month low of $1.34 and a 12-month high of $9.23.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business had revenue of $90.55 million during the quarter, compared to the consensus estimate of $93.85 million. Equities research analysts predict that Ironwood Pharmaceuticals will post 0.1 earnings per share 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.