Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Stock Has Consensus Price Target of $6.23 According to Brokerages

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $6.23.

IRWD has been the subject of a number of recent analyst reports. Wall Street Zen cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. Zacks Research lowered shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings cut shares of Ironwood Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, September 4th.

Insider Activity

In related news, insider Ronald Silver sold 127,890 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $4.52, for a total value of $578,062.80. Following the sale, the insider directly owned 313,680 shares of the company’s stock, valued at approximately $1,417,833.60. The trade was a 28.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IRWD. Engineers Gate Manager LP raised its stake in Ironwood Pharmaceuticals by 22.8% in the second quarter. Engineers Gate Manager LP now owns 98,052 shares of the biotechnology company’s stock valued at $413,000 after buying an additional 18,200 shares during the period. Squarepoint Ops LLC lifted its position in shares of Ironwood Pharmaceuticals by 104.3% in the second quarter. Squarepoint Ops LLC now owns 66,899 shares of the biotechnology company’s stock valued at $282,000 after buying an additional 34,153 shares during the last quarter. AXQ Capital LP boosted its stake in shares of Ironwood Pharmaceuticals by 263.2% during the 2nd quarter. AXQ Capital LP now owns 47,028 shares of the biotechnology company’s stock worth $198,000 after acquiring an additional 34,079 shares during the period. Wellington Management Group LLP boosted its stake in shares of Ironwood Pharmaceuticals by 3.4% during the 2nd quarter. Wellington Management Group LLP now owns 468,821 shares of the biotechnology company’s stock worth $1,974,000 after acquiring an additional 15,306 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Ironwood Pharmaceuticals during the 2nd quarter worth approximately $252,000.

Ironwood Pharmaceuticals Price Performance

Shares of Ironwood Pharmaceuticals stock opened at $4.19 on Friday. The firm has a market cap of $692.36 million, a P/E ratio of 5.44 and a beta of 0.20. The firm has a 50 day simple moving average of $4.16 and a 200 day simple moving average of $3.92. Ironwood Pharmaceuticals has a fifty-two week low of $1.26 and a fifty-two week high of $5.78.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, August 6th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Ironwood Pharmaceuticals had a net margin of 33.36% and a negative return on equity of 58.38%. The business had revenue of $113.04 million for the quarter, compared to analyst estimates of $114.84 million. On average, sell-side analysts expect that Ironwood Pharmaceuticals will post 1.1 EPS for the current year.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a gastrointestinal-focused pharmaceutical company headquartered in Boston, Massachusetts. The company discovers, develops, and commercializes medicines for gastrointestinal diseases and other disorders where significant unmet medical needs remain.

Ironwood’s primary marketed product is LINZESS (linaclotide), an oral medication used to treat irritable bowel syndrome with constipation and chronic idiopathic constipation. The product was approved by the U.S.