Ironwood Pharmaceuticals (NASDAQ:IRWD) Reaches New 1-Year Low Following Analyst Downgrade

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) shares reached 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 changing hands. The stock had previously closed at $3.72.

Other equities analysts also recently issued reports about the stock. Craig Hallum cut their price target on shares of 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 cut shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $10.67.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the completion of the sale, the chief financial officer now directly owns 309,572 shares of the company's stock, valued at approximately $1,263,053.76. The trade was a 3.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several institutional investors have recently modified their holdings of IRWD. Pacer Advisors Inc. grew its position in shares of Ironwood Pharmaceuticals by 4.0% during the 4th quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company's stock worth $51,967,000 after buying an additional 450,949 shares during the period. State Street Corp grew its holdings in Ironwood Pharmaceuticals by 7.3% during the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company's stock valued at $40,870,000 after purchasing an additional 677,024 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Ironwood Pharmaceuticals by 23.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company's stock valued at $7,846,000 after purchasing an additional 364,841 shares in the last quarter. FMR LLC raised its holdings in Ironwood Pharmaceuticals by 25.1% in the third quarter. FMR LLC now owns 169,681 shares of the biotechnology company's stock worth $699,000 after purchasing an additional 34,089 shares during the period. Finally, Weiss Asset Management LP bought a new position in shares of Ironwood Pharmaceuticals during the third quarter worth $893,000.

Ironwood Pharmaceuticals Trading Up 4.0 %

The firm's fifty day moving average price is $3.86 and its 200-day moving average price is $4.42. The company has a market cap of $349.67 million, a price-to-earnings ratio of -72.17 and a beta of 0.29.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last posted its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (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 analyst estimates of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The firm's revenue was down 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. As a group, research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current year.

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.