Brokerages Set Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Target Price at $6.23

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $6.2333.

Several equities research analysts have weighed in on the stock. Zacks Research cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Sunday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, April 27th. Jefferies Financial Group reiterated a “hold” rating and set a $3.70 price target on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 26th. Finally, Citizens Jmp lifted their price target on shares of Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 26th.

Insider Activity at Ironwood Pharmaceuticals

In other news, Director Alexander J. Denner sold 6,730,800 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.05, for a total transaction of $20,528,940.00. Following the completion of the sale, the director owned 9,188,635 shares in the company, valued at $28,025,336.75. The trade was a 42.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Krilogy Financial LLC grew its position in shares of Ironwood Pharmaceuticals by 9.8% during the 1st quarter. Krilogy Financial LLC now owns 33,194 shares of the biotechnology company’s stock worth $117,000 after buying an additional 2,971 shares during the period. ProShare Advisors LLC grew its position in shares of Ironwood Pharmaceuticals by 9.6% during the 4th quarter. ProShare Advisors LLC now owns 36,315 shares of the biotechnology company’s stock worth $122,000 after buying an additional 3,170 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Ironwood Pharmaceuticals by 21.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock worth $25,000 after buying an additional 3,406 shares during the period. DGS Capital Management LLC grew its position in shares of Ironwood Pharmaceuticals by 42.8% during the 1st quarter. DGS Capital Management LLC now owns 14,883 shares of the biotechnology company’s stock worth $52,000 after buying an additional 4,458 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Ironwood Pharmaceuticals by 7.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 76,951 shares of the biotechnology company’s stock worth $259,000 after buying an additional 5,598 shares during the period.

Ironwood Pharmaceuticals Trading Up 6.8%

IRWD opened at $3.92 on Friday. The stock has a market capitalization of $639.20 million, a PE ratio of 6.53 and a beta of 0.29. Ironwood Pharmaceuticals has a 1-year low of $0.55 and a 1-year high of $5.78. The firm has a 50-day moving average price of $3.75 and a two-hundred day moving average price of $3.77.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data 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 company had revenue of $106.51 million during the quarter, compared to analyst estimates of $92.11 million. Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. On average, research analysts predict that Ironwood Pharmaceuticals will post 0.88 EPS for the current year.

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.