Ironwood Pharmaceuticals (NASDAQ:IRWD) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) from a strong-buy rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

A number of other research firms have also weighed in on IRWD. Wall Street Zen raised Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ironwood Pharmaceuticals has an average rating of “Hold” and a consensus target price of $6.23.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD stock opened at $4.23 on Thursday. Ironwood Pharmaceuticals has a one year low of $0.71 and a one year high of $5.78. The company’s fifty day moving average price is $3.85 and its 200-day moving average price is $3.98. The company has a market capitalization of $689.74 million, a price-to-earnings ratio of 7.05 and a beta of 0.20.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $106.51 million during the quarter, compared to the consensus estimate of $92.11 million. Ironwood Pharmaceuticals had a negative return on equity of 39.65% and a net margin of 28.26%. Equities research analysts expect that Ironwood Pharmaceuticals will post 1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, insider Ronald Silver sold 127,890 shares of Ironwood Pharmaceuticals stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $4.52, for a total value of $578,062.80. Following the sale, the insider directly owned 313,680 shares in the company, valued at approximately $1,417,833.60. The trade was a 28.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Julie Mchugh sold 21,571 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.73, for a total transaction of $80,459.83. Following the completion of the sale, the director owned 250,749 shares in the company, valued at approximately $935,293.77. The trade was a 7.92% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 9.30% of the company’s stock.

Institutional Trading of Ironwood Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Ironwood Pharmaceuticals by 535.8% during the 1st quarter. AQR Capital Management LLC now owns 2,523,875 shares of the biotechnology company’s stock valued at $3,710,000 after acquiring an additional 2,126,889 shares during the last quarter. Millennium Management LLC lifted its position in Ironwood Pharmaceuticals by 186.6% during the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after purchasing an additional 4,140,439 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ironwood Pharmaceuticals in the 1st quarter worth about $57,000. Goldman Sachs Group Inc. raised its position in shares of Ironwood Pharmaceuticals by 72.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,575,416 shares of the biotechnology company’s stock valued at $2,316,000 after buying an additional 660,144 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 740.5% in the 1st quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock valued at $5,160,000 after acquiring an additional 3,092,475 shares during the last quarter.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc is a commercial?stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.