Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) was upgraded by equities researchers at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday.
A number of other equities research analysts have also weighed in on IRWD. Craig Hallum reduced their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a "market perform" rating and a $5.00 price objective on the stock. Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a "hold" rating in a research note on Monday, September 9th. Wells Fargo & Company cut their price target on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Friday, August 9th. Finally, Capital One Financial lowered shares of Ironwood Pharmaceuticals from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.17.
Get Our Latest Research Report on Ironwood Pharmaceuticals
Ironwood Pharmaceuticals Stock Performance
Ironwood Pharmaceuticals stock remained flat at $4.19 during mid-day trading on Monday. 1,146,623 shares of the company's stock were exchanged, compared to its average volume of 2,965,169. The firm has a market capitalization of $669.31 million, a P/E ratio of 104.75 and a beta of 0.47. Ironwood Pharmaceuticals has a 12 month low of $3.79 and a 12 month high of $15.70. The stock's fifty day simple moving average is $4.34 and its two-hundred day simple moving average is $5.67.
Insiders Place Their Bets
In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of the firm's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $4.27, for a total transaction of $42,315.70. Following the transaction, the insider now directly owns 284,661 shares of the company's stock, valued at approximately $1,215,502.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.90% of the stock is currently owned by insiders.
Institutional Trading of Ironwood Pharmaceuticals
Several hedge funds and other institutional investors have recently made changes to their positions in IRWD. Vanguard Group Inc. lifted its stake in shares of Ironwood Pharmaceuticals by 21.8% in the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company's stock valued at $170,031,000 after purchasing an additional 3,487,821 shares during the period. Armistice Capital LLC lifted its stake in shares of Ironwood Pharmaceuticals by 44.4% in the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company's stock valued at $50,856,000 after purchasing an additional 2,400,000 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Ironwood Pharmaceuticals by 23.6% in the second quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company's stock valued at $58,078,000 after purchasing an additional 1,701,452 shares during the period. Kynam Capital Management LP acquired a new stake in shares of Ironwood Pharmaceuticals in the first quarter valued at about $14,154,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Ironwood Pharmaceuticals by 20.7% in the second quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company's stock valued at $55,889,000 after purchasing an additional 1,472,097 shares during the period.
About Ironwood Pharmaceuticals
(
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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