Ironwood Pharmaceuticals (NASDAQ:IRWD) Hits New 12-Month Low Following Analyst Downgrade

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) hit a new 52-week low during mid-day trading on Friday after JMP Securities lowered their price target on the stock from $23.00 to $14.00. JMP Securities currently has a market outperform rating on the stock. Ironwood Pharmaceuticals traded as low as $2.25 and last traded at $2.30, with a volume of 10525325 shares trading hands. The stock had previously closed at $3.72.

Other equities research analysts have also recently issued research reports about the company. Craig Hallum cut their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Ironwood Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $10.67.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals 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 completion of the transaction, the chief financial officer now owns 309,572 shares of the company’s stock, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IRWD. KBC Group NV raised its position in Ironwood Pharmaceuticals by 59.3% in the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 3,198 shares in the last quarter. Journey Strategic Wealth LLC purchased a new position in Ironwood Pharmaceuticals in the fourth quarter worth approximately $45,000. Wolverine Trading LLC acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter worth approximately $51,000. Diversified Trust Co purchased a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at approximately $52,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter valued at $53,000.

Ironwood Pharmaceuticals Price Performance

The stock has a market cap of $374.47 million, a price-to-earnings ratio of -78.00 and a beta of 0.34. The business’s 50 day moving average is $3.86 and its 200 day moving average is $4.44.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The business had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The company’s revenue was down 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current year.

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.