StockNews.com downgraded shares of Ironwood Pharmaceuticals (NASDAQ:IRWD - Free Report) from a buy rating to a hold rating in a research report sent to investors on Friday.
Several other equities research analysts also recently weighed in on the stock. JMP Securities lowered 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 research note on Thursday, January 30th. Craig Hallum lowered their price objective on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $8.60.
Check Out Our Latest Stock Analysis on IRWD
Ironwood Pharmaceuticals Trading Up 5.7 %
Shares of IRWD traded up $0.08 during trading hours on Friday, hitting $1.49. The company had a trading volume of 3,391,707 shares, compared to its average volume of 2,354,250. Ironwood Pharmaceuticals has a one year low of $1.34 and a one year high of $9.01. The company's fifty day moving average price is $2.27 and its two-hundred day moving average price is $3.48. The company has a market capitalization of $238.44 million, a PE ratio of -49.67 and a beta of 0.37.
Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $93.85 million. Analysts forecast that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current year.
Insider Buying and Selling
In related news, CEO Thomas A. Mccourt sold 139,064 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $244,752.64. Following the sale, the chief executive officer now directly owns 1,160,634 shares of the company's stock, valued at $2,042,715.84. This trade represents a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Michael Shetzline sold 41,269 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 value of $72,633.44. Following the transaction, the chief marketing officer now owns 554,007 shares of the company's stock, valued at approximately $975,052.32. This represents a 6.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 192,381 shares of company stock valued at $338,591 over the last quarter. 12.90% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Ironwood Pharmaceuticals
A number of hedge funds and other institutional investors have recently made changes to their positions in IRWD. KBC Group NV grew its position in Ironwood Pharmaceuticals by 59.3% during the third 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. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Ironwood Pharmaceuticals by 150.7% during the 3rd 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 during the period. Intech Investment Management LLC purchased a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at about $181,000. Pacer Advisors Inc. increased its stake in shares of Ironwood Pharmaceuticals by 26.6% in the 3rd quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company's stock valued at $46,473,000 after purchasing an additional 2,372,183 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Ironwood Pharmaceuticals by 23.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company's stock worth $7,846,000 after purchasing an additional 364,841 shares during the period.
Ironwood Pharmaceuticals Company Profile
(
Get Free Report)
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.
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