Ironwood Pharmaceuticals (NASDAQ:IRWD) Lowered to “Hold” Rating by Zacks Research

Ironwood Pharmaceuticals (NASDAQ:IRWD) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.94.

Ironwood Pharmaceuticals Price Performance

Ironwood Pharmaceuticals stock opened at $2.06 on Tuesday. The stock has a market cap of $334.61 million, a price-to-earnings ratio of -41.19 and a beta of 0.37. Ironwood Pharmaceuticals has a 1 year low of $0.53 and a 1 year high of $5.13. The firm has a 50-day moving average of $1.46 and a two-hundred day moving average of $1.02.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, August 7th. The biotechnology company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.16. The company had revenue of $85.24 million during the quarter, compared to analysts’ expectations of $62.02 million. Ironwood Pharmaceuticals had a negative net margin of 2.25% and a negative return on equity of 2.46%. Research analysts expect that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IRWD. Armistice Capital LLC increased its stake in Ironwood Pharmaceuticals by 44.7% during the 1st quarter. Armistice Capital LLC now owns 13,700,000 shares of the biotechnology company’s stock valued at $20,139,000 after purchasing an additional 4,232,000 shares in the last quarter. Millennium Management LLC increased its stake in Ironwood Pharmaceuticals by 186.6% during the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after purchasing an additional 4,140,439 shares in the last quarter. Acadian Asset Management LLC increased its stake in Ironwood Pharmaceuticals by 147.6% during the 2nd quarter. Acadian Asset Management LLC now owns 6,549,687 shares of the biotechnology company’s stock valued at $4,685,000 after purchasing an additional 3,904,498 shares in the last quarter. AQR Capital Management LLC increased its stake in Ironwood Pharmaceuticals by 144.3% during the 2nd quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock valued at $4,422,000 after purchasing an additional 3,641,762 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Ironwood Pharmaceuticals by 616.3% during the 2nd quarter. Marshall Wace LLP now owns 3,993,557 shares of the biotechnology company’s stock valued at $2,875,000 after purchasing an additional 3,436,036 shares in the last quarter.

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.