Ironwood Pharmaceuticals (NASDAQ:IRWD) Cut to Market Perform at Citizens Jmp

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) was downgraded by Citizens Jmp from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Monday, MarketBeat reports.

Several other research analysts have also recently issued reports on IRWD. JMP Securities reduced their price objective 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. StockNews.com raised shares of Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 29th. Finally, Craig Hallum decreased their price objective on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $4.78.

Ironwood Pharmaceuticals Trading Down 3.3 %

Shares of Ironwood Pharmaceuticals stock traded down $0.03 during trading on Monday, hitting $0.73. 3,326,562 shares of the stock traded hands, compared to its average volume of 2,563,472. The stock's fifty day simple moving average is $1.46 and its 200 day simple moving average is $3.04. Ironwood Pharmaceuticals has a 52-week low of $0.59 and a 52-week high of $8.45. The firm has a market cap of $117.31 million, a P/E ratio of -24.17 and a beta of 0.30.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $93.85 million. As a group, equities analysts expect that Ironwood Pharmaceuticals will post 0.1 EPS for the current year.

Insiders Place Their Bets

In other news, CMO Michael Shetzline sold 41,269 shares of the stock in a transaction dated 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 owns 554,007 shares in the company, valued at approximately $975,052.32. This represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas A. Mccourt sold 139,064 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value 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 approximately $2,042,715.84. This represents a 10.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 192,381 shares of company stock valued at $338,591. 12.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in IRWD. Exchange Traded Concepts LLC increased its position in shares of Ironwood Pharmaceuticals by 173.5% in the first quarter. Exchange Traded Concepts LLC now owns 178,523 shares of the biotechnology company's stock valued at $262,000 after buying an additional 113,245 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in Ironwood Pharmaceuticals in the 1st quarter worth about $45,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Ironwood Pharmaceuticals in the fourth quarter valued at approximately $59,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Ironwood Pharmaceuticals in the fourth quarter valued at $1,888,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Ironwood Pharmaceuticals by 6.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 286,990 shares of the biotechnology company's stock worth $1,271,000 after purchasing an additional 17,265 shares during the period.

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.