Ironwood Pharmaceuticals (NASDAQ:IRWD) Cut to "Hold" at Craig Hallum

Craig Hallum cut shares of Ironwood Pharmaceuticals (NASDAQ:IRWD - Free Report) from a strong-buy rating to a hold rating in a research note released on Wednesday, April 16th,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Citizens Jmp cut Ironwood Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Monday, April 14th. Wells Fargo & Company reissued an "equal weight" rating and set a $1.00 target price (down previously from $7.00) on shares of Ironwood Pharmaceuticals in a research note on Tuesday, April 15th. JMP Securities lowered their price target on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a "market outperform" rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group reaffirmed a "hold" rating and set a $0.70 price objective (down from $8.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday, April 15th. Finally, Leerink Partners lowered their target price on shares of Ironwood Pharmaceuticals from $3.00 to $1.00 and set a "market perform" rating on the stock in a report on Monday, April 14th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $4.78.

Ironwood Pharmaceuticals Trading Up 7.9 %

NASDAQ IRWD traded up $0.06 on Wednesday, hitting $0.78. 1,512,995 shares of the company traded hands, compared to its average volume of 2,559,516. The business's 50 day moving average price is $1.39 and its 200-day moving average price is $2.96. Ironwood Pharmaceuticals has a 52-week low of $0.59 and a 52-week high of $8.45. The company has a market capitalization of $125.64 million, a price-to-earnings ratio of -25.88 and a beta of 0.30.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released 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). The firm had revenue of $90.55 million for the quarter, compared to the consensus estimate of $93.85 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. As a group, sell-side analysts predict that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, CMO Michael Shetzline sold 41,269 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas A. Mccourt sold 139,064 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $244,752.64. Following the transaction, the chief executive officer now owns 1,160,634 shares of the company's stock, valued at approximately $2,042,715.84. The trade was a 10.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 192,381 shares of company stock worth $338,591 over the last quarter. Insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ironwood Pharmaceuticals during the 4th quarter worth $36,000. Journey Strategic Wealth LLC purchased a new stake in Ironwood Pharmaceuticals in the fourth quarter worth about $45,000. Simplicity Wealth LLC purchased a new position in Ironwood Pharmaceuticals during the 1st quarter valued at about $45,000. Catalyst Funds Management Pty Ltd purchased a new position in Ironwood Pharmaceuticals during the 4th quarter valued at about $47,000. Finally, Xponance Inc. bought a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter valued at about $50,000.

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.