Leerink Partners Cuts Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target to $1.00

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) had its target price lowered by stock analysts at Leerink Partners from $3.00 to $1.00 in a report issued on Monday,Benzinga reports. The firm presently has a "market perform" rating on the biotechnology company's stock. Leerink Partners' target price would indicate a potential upside of 37.93% from the stock's current price.

A number of other equities research analysts have also recently weighed in on the stock. Citizens Jmp cut shares of Ironwood Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research report on Monday. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 29th. JMP Securities decreased their price target on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a "market outperform" rating on the stock in a research note on Thursday, January 30th. Finally, Craig Hallum lowered their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating for the company in a research 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 company has an average rating of "Hold" and an average target price of $4.78.

Ironwood Pharmaceuticals Trading Down 3.3 %

IRWD stock traded down $0.03 during midday trading on Monday, hitting $0.73. 3,326,562 shares of the company's stock were exchanged, compared to its average volume of 2,563,472. Ironwood Pharmaceuticals has a 1-year low of $0.59 and a 1-year high of $8.45. The stock has a market capitalization of $117.31 million, a PE ratio of -24.17 and a beta of 0.30. The business has a 50-day simple moving average of $1.44 and a two-hundred day simple moving average of $3.02.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.08). The business had revenue of $90.55 million for the quarter, compared to analysts' expectations 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, research analysts expect that Ironwood Pharmaceuticals will post 0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Michael Shetzline sold 41,269 shares of Ironwood Pharmaceuticals stock in a transaction dated 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 transaction, the chief marketing officer now owns 554,007 shares in the company, valued at approximately $975,052.32. This trade represents a 6.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas A. Mccourt sold 139,064 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 $244,752.64. Following the sale, the chief executive officer now owns 1,160,634 shares in the company, valued at $2,042,715.84. The trade was a 10.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,381 shares of company stock worth $338,591 over the last 90 days. Corporate insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its stake in Ironwood Pharmaceuticals by 7.3% in 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 in the last quarter. Deutsche Bank AG raised its position in shares of Ironwood Pharmaceuticals by 47.4% during the 4th quarter. Deutsche Bank AG now owns 1,567,535 shares of the biotechnology company's stock worth $6,944,000 after acquiring an additional 504,336 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Ironwood Pharmaceuticals by 5.5% during the fourth quarter. Renaissance Technologies LLC now owns 9,066,241 shares of the biotechnology company's stock worth $40,163,000 after purchasing an additional 469,043 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Ironwood Pharmaceuticals by 4.0% in the fourth quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company's stock valued at $51,967,000 after purchasing an additional 450,949 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter worth approximately $1,888,000.

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.