Leerink Partners Has Lowered Expectations for Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its target price dropped by analysts at Leerink Partners from $3.00 to $1.00 in a report released on Monday,Benzinga reports. The firm currently has a “market perform” rating on the biotechnology company’s stock. Leerink Partners’ price objective would indicate a potential upside of 43.20% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. StockNews.com raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 29th. Craig Hallum cut their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. JMP Securities decreased their target price on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a research report on Thursday, January 30th. Finally, Citizens Jmp lowered shares of Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Monday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.80.

Ironwood Pharmaceuticals Stock Down 26.1 %

Shares of IRWD stock traded down $0.25 on Monday, hitting $0.70. The stock had a trading volume of 13,092,886 shares, compared to its average volume of 2,499,913. Ironwood Pharmaceuticals has a one year low of $0.59 and a one year high of $8.45. The business has a 50 day moving average price of $1.55 and a 200 day moving average price of $3.12. The company has a market cap of $112.99 million, a PE ratio of -23.28 and a beta of 0.30.

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

Insider Transactions at Ironwood Pharmaceuticals

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IRWD. State Street Corp lifted its holdings in shares of Ironwood Pharmaceuticals by 7.3% in the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock valued at $40,870,000 after buying an additional 677,024 shares during the period. Deutsche Bank AG boosted its position in Ironwood Pharmaceuticals by 47.4% in the 4th quarter. Deutsche Bank AG now owns 1,567,535 shares of the biotechnology company’s stock worth $6,944,000 after purchasing an additional 504,336 shares in the last quarter. Renaissance Technologies LLC grew its stake 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 purchasing an additional 469,043 shares during the period. Pacer Advisors Inc. increased its holdings 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 valued at $51,967,000 after purchasing an additional 450,949 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at $1,888,000.

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.