Ironwood Pharmaceuticals (NASDAQ:IRWD - Free Report) had its price target trimmed by JMP Securities from $23.00 to $14.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the biotechnology company's stock.
A number of other analysts have also commented on the company. Craig Hallum dropped their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. StockNews.com lowered shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $10.67.
Read Our Latest Stock Analysis on IRWD
Ironwood Pharmaceuticals Price Performance
Ironwood Pharmaceuticals stock traded down $0.24 during mid-day trading on Thursday, hitting $2.11. The company's stock had a trading volume of 2,789,655 shares, compared to its average volume of 2,324,341. Ironwood Pharmaceuticals has a 12 month low of $2.05 and a 12 month high of $15.70. The business has a 50 day moving average price of $3.86 and a 200-day moving average price of $4.42. The stock has a market cap of $336.86 million, a price-to-earnings ratio of -70.17 and a beta of 0.29.
Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). The company had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business's revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 EPS. On average, equities research analysts expect that Ironwood Pharmaceuticals will post 0.08 earnings per share for the current fiscal year.
Insider Transactions at Ironwood Pharmaceuticals
In other news, CFO Sravan Kumar Emany sold 11,001 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the sale, the chief financial officer now directly owns 309,572 shares of the company's stock, valued at $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 is available through the SEC website. Insiders own 12.90% of the company's stock.
Institutional Investors Weigh In On Ironwood Pharmaceuticals
Several hedge funds have recently added to or reduced their stakes in IRWD. CIBC Asset Management Inc bought a new position in shares of Ironwood Pharmaceuticals during the fourth quarter valued at $53,000. Principal Financial Group Inc. grew its position in Ironwood Pharmaceuticals by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 765,356 shares of the biotechnology company's stock valued at $3,391,000 after purchasing an additional 29,629 shares during the last quarter. Rhumbline Advisers increased its stake in Ironwood Pharmaceuticals by 3.0% during the 4th quarter. Rhumbline Advisers now owns 348,006 shares of the biotechnology company's stock valued at $1,542,000 after purchasing an additional 10,041 shares in the last quarter. Journey Strategic Wealth LLC purchased a new position in Ironwood Pharmaceuticals in the fourth quarter worth about $45,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Ironwood Pharmaceuticals by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,932 shares of the biotechnology company's stock worth $150,000 after buying an additional 3,209 shares in the last quarter.
Ironwood Pharmaceuticals Company Profile
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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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