Ironwood Pharmaceuticals (NASDAQ:IRWD) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Ironwood Pharmaceuticals (NASDAQ:IRWD - Free Report) from a hold rating to a buy rating in a report released on Thursday morning.

A number of other equities analysts have also recently weighed in on IRWD. 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. JMP Securities reduced their price objective on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a "market outperform" rating on the stock in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.60.

Ironwood Pharmaceuticals Stock Up 3.4 %

Shares of NASDAQ:IRWD traded up $0.05 during midday trading on Thursday, reaching $1.54. 1,733,578 shares of the company traded hands, compared to its average volume of 2,339,614. The firm's fifty day moving average price is $2.50 and its two-hundred day moving average price is $3.58. Ironwood Pharmaceuticals has a 12 month low of $1.34 and a 12 month high of $9.23. The firm has a market capitalization of $246.44 million, a price-to-earnings ratio of -51.33 and a beta of 0.37.

Remove Ads

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (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 business had revenue of $90.55 million during the quarter, compared to analysts' expectations of $93.85 million. Analysts forecast that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current year.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CMO Michael Shetzline sold 41,269 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $72,633.44. Following the completion of the sale, the chief marketing officer now owns 554,007 shares of the company's stock, valued at approximately $975,052.32. This trade represents a 6.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas A. Mccourt sold 139,064 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $244,752.64. Following the transaction, the chief executive officer now owns 1,160,634 shares in the company, valued at $2,042,715.84. This represents a 10.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,381 shares of company stock valued at $338,591 in the last 90 days. Corporate insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. increased its stake in shares of Ironwood Pharmaceuticals by 4.0% in the 4th quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company's stock worth $51,967,000 after purchasing an additional 450,949 shares in the last quarter. State Street Corp boosted its stake 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 buying an additional 677,024 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Ironwood Pharmaceuticals by 5.5% in the fourth quarter. Renaissance Technologies LLC now owns 9,066,241 shares of the biotechnology company's stock valued at $40,163,000 after purchasing an additional 469,043 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ironwood Pharmaceuticals by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,306,570 shares of the biotechnology company's stock worth $14,652,000 after buying an additional 13,028 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Ironwood Pharmaceuticals by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,983,240 shares of the biotechnology company's stock worth $8,786,000 after acquiring an additional 78,969 shares during 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.