Ironwood Pharmaceuticals (NASDAQ:IRWD) Given Equal Weight Rating at Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. Wells Fargo & Company currently has a $1.00 price target on the biotechnology company’s stock, down from their prior price target of $7.00.

Other analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th. JMP Securities reduced 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 report on Thursday, January 30th. Craig Hallum lowered their price target on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Leerink Partners reduced their price objective on Ironwood Pharmaceuticals from $3.00 to $1.00 and set a “market perform” rating for the company in a research note on Monday. Finally, Citizens Jmp cut Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.78.

Ironwood Pharmaceuticals Trading Up 11.5 %

NASDAQ:IRWD opened at $0.72 on Tuesday. The company has a market capitalization of $116.86 million, a P/E ratio of -24.07 and a beta of 0.30. Ironwood Pharmaceuticals has a 12 month low of $0.59 and a 12 month high of $8.45. The firm has a fifty day simple moving average of $1.50 and a 200-day simple moving average of $3.08.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $90.55 million for the quarter, compared to analyst estimates of $93.85 million. Equities analysts forecast that Ironwood Pharmaceuticals will post 0.1 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ironwood Pharmaceuticals during the fourth quarter valued at approximately $36,000. Journey Strategic Wealth LLC purchased a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth approximately $45,000. Simplicity Wealth LLC acquired a new position in Ironwood Pharmaceuticals in the 1st quarter valued at $45,000. Catalyst Funds Management Pty Ltd purchased a new position in Ironwood Pharmaceuticals in the 4th quarter valued at $47,000. Finally, Xponance Inc. purchased a new position in Ironwood Pharmaceuticals in the 4th quarter valued at $50,000.

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.