Brokerages Set Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Target Price at $8.60

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.60.

IRWD has been the topic of several analyst reports. StockNews.com lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. Craig Hallum dropped their target price on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Finally, JMP Securities decreased their price target on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a research note on Thursday, January 30th.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD stock opened at $1.41 on Monday. The company has a market cap of $225.64 million, a P/E ratio of -47.00 and a beta of 0.37. The stock’s 50-day moving average is $2.27 and its 200 day moving average is $3.48. Ironwood Pharmaceuticals has a 1-year low of $1.34 and a 1-year high of $9.01.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $90.55 million during 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%. On average, analysts anticipate that Ironwood Pharmaceuticals will post 0.1 EPS for the current year.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 139,064 shares of Ironwood Pharmaceuticals stock in a transaction that occurred 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 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 is accessible through the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $72,633.44. Following the completion of the sale, the chief marketing officer now directly owns 554,007 shares in the company, valued at $975,052.32. This trade represents a 6.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 192,381 shares of company stock valued at $338,591. 12.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in IRWD. KBC Group NV lifted its holdings in shares of 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 buying an additional 3,198 shares during the period. Royce & Associates LP raised its position in Ironwood Pharmaceuticals by 10.8% during the third quarter. Royce & Associates LP now owns 662,934 shares of the biotechnology company’s stock valued at $2,731,000 after acquiring an additional 64,353 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Ironwood Pharmaceuticals by 150.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,289 shares of the biotechnology company’s stock valued at $520,000 after acquiring an additional 75,917 shares in the last quarter. Intech Investment Management LLC acquired a new position in Ironwood Pharmaceuticals in the third quarter valued at approximately $181,000. Finally, Pacer Advisors Inc. boosted its position in Ironwood Pharmaceuticals by 26.6% in the 3rd quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock worth $46,473,000 after purchasing an additional 2,372,183 shares in the last quarter.

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.