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

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.2333.

IRWD has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, April 27th. Citizens Jmp increased their target price on shares of Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 26th. Zacks Research cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $3.70 target price on shares of Ironwood Pharmaceuticals in a research note on Thursday, February 26th.

Ironwood Pharmaceuticals Price Performance

NASDAQ:IRWD opened at $3.65 on Wednesday. The firm has a 50-day moving average of $3.82 and a 200-day moving average of $3.87. The company has a market cap of $595.17 million, a PE ratio of 6.08 and a beta of 0.25. Ironwood Pharmaceuticals has a one year low of $0.61 and a one year high of $5.78.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts expect that Ironwood Pharmaceuticals will post 1.04 earnings per share for the current fiscal year.

Insider Transactions at Ironwood Pharmaceuticals

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

Institutional Trading of Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in Ironwood Pharmaceuticals by 248.3% in the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock worth $15,321,000 after purchasing an additional 8,337,672 shares in the last quarter. Millennium Management LLC lifted its stake in Ironwood Pharmaceuticals by 186.6% in the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock worth $9,349,000 after purchasing an additional 4,140,439 shares in the last quarter. AQR Capital Management LLC lifted its stake in Ironwood Pharmaceuticals by 144.3% in the 2nd quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock worth $4,422,000 after purchasing an additional 3,641,762 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ironwood Pharmaceuticals by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,975,939 shares of the biotechnology company’s stock valued at $16,769,000 after buying an additional 58,603 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Ironwood Pharmaceuticals by 40.7% during the 4th quarter. Marshall Wace LLP now owns 4,424,002 shares of the biotechnology company’s stock valued at $14,909,000 after buying an additional 1,279,863 shares in 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.