Craig Hallum Cuts Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target to $14.00

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price objective dropped by equities research analysts at Craig Hallum from $18.00 to $14.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Craig Hallum’s target price would indicate a potential upside of 97.46% from the company’s previous close.

A number of other equities analysts have also recently issued reports on IRWD. StockNews.com cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, April 6th. Wells Fargo & Company dropped their target price on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Finally, Piper Sandler increased their price objective on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $18.40.

Ironwood Pharmaceuticals Price Performance

Ironwood Pharmaceuticals stock traded up $0.35 during trading hours on Friday, hitting $7.09. The company had a trading volume of 3,048,861 shares, compared to its average volume of 4,204,020. The firm has a market capitalization of $1.11 billion, a P/E ratio of -1.10 and a beta of 0.57. The firm’s fifty day moving average is $8.34 and its 200-day moving average is $10.55. Ironwood Pharmaceuticals has a fifty-two week low of $6.21 and a fifty-two week high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.20). The business had revenue of $74.90 million during the quarter, compared to the consensus estimate of $105.75 million. Ironwood Pharmaceuticals had a negative return on equity of 185.45% and a negative net margin of 226.37%. The business’s revenue was down 28.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. Analysts anticipate that Ironwood Pharmaceuticals will post 0.71 earnings per share for the current year.

Insider Activity at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 47,380 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $722,071.20. Following the transaction, the insider now directly owns 224,796 shares in the company, valued at approximately $3,425,891.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ironwood Pharmaceuticals news, Director Jon R. Duane purchased 6,920 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $8.70 per share, with a total value of $60,204.00. Following the acquisition, the director now directly owns 121,028 shares in the company, valued at approximately $1,052,943.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Minardo John sold 47,380 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $722,071.20. Following the transaction, the insider now directly owns 224,796 shares in the company, valued at $3,425,891.04. The disclosure for this sale can be found here. Insiders have sold 273,008 shares of company stock worth $4,160,642 over the last ninety days. Insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently made changes to their positions in IRWD. Signaturefd LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 61.4% during the fourth quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 822 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Ironwood Pharmaceuticals by 331.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock worth $29,000 after buying an additional 1,900 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Ironwood Pharmaceuticals by 96.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,997 shares of the biotechnology company’s stock worth $38,000 after buying an additional 1,961 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Ironwood Pharmaceuticals by 152.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock worth $50,000 after buying an additional 2,645 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Ironwood Pharmaceuticals by 396.5% during the third quarter. Headlands Technologies LLC now owns 6,737 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 5,380 shares in the last quarter.

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.