Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives $10.40 Average PT from Brokerages

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings 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 objective among analysts that have updated their coverage on the stock in the last year is $10.40.

A number of research analysts have issued reports on IRWD shares. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. 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 price target on the stock. Finally, Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th.

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 in the company, valued at approximately $1,263,053.76. This trade represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in IRWD. Pacer Advisors Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 26.6% in the 3rd 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 during the last quarter. State Street Corp boosted its position in Ironwood Pharmaceuticals by 7.3% in the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after purchasing an additional 677,024 shares during the last quarter. Renaissance Technologies LLC grew its stake 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 purchasing an additional 1,472,097 shares during the period. Armistice Capital LLC grew its stake in shares of Ironwood Pharmaceuticals by 44.4% during the 2nd quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock valued at $50,856,000 after purchasing an additional 2,400,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Ironwood Pharmaceuticals by 23.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock valued at $7,846,000 after purchasing an additional 364,841 shares during the last quarter.

Ironwood Pharmaceuticals Price Performance

NASDAQ:IRWD opened at $4.51 on Wednesday. The firm’s 50-day moving average price is $4.03 and its 200-day moving average price is $4.79. The company has a market capitalization of $721.73 million, a PE ratio of -150.33 and a beta of 0.34. Ironwood Pharmaceuticals has a 1-year low of $3.06 and a 1-year high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $91.22 million. During the same quarter last year, the company posted $0.12 EPS. Ironwood Pharmaceuticals’s revenue for the quarter was down 19.4% compared to the same quarter last year. Equities analysts anticipate 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.