Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Rating Lowered by Wall Street Zen

Ironwood Pharmaceuticals (NASDAQ:IRWD) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research report on Friday, July 24th. Zacks Research cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $6.23.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD opened at $4.32 on Friday. The stock has a market capitalization of $704.42 million, a P/E ratio of 5.61 and a beta of 0.20. Ironwood Pharmaceuticals has a twelve month low of $0.81 and a twelve month high of $5.78. The company has a 50 day moving average of $3.90 and a 200-day moving average of $3.96.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The business had revenue of $113.04 million during the quarter, compared to analyst estimates of $114.84 million. Ironwood Pharmaceuticals had a net margin of 33.36% and a negative return on equity of 58.38%. On average, sell-side analysts anticipate that Ironwood Pharmaceuticals will post 1.04 earnings per share for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In related news, Director Julie Mchugh sold 21,571 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.73, for a total value of $80,459.83. Following the completion of the transaction, the director directly owned 250,749 shares of the company’s stock, valued at approximately $935,293.77. This trade represents a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ronald Silver sold 127,890 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $4.52, for a total transaction of $578,062.80. Following the transaction, the insider owned 313,680 shares in the company, valued at approximately $1,417,833.60. The trade was a 28.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IRWD. AQR Capital Management LLC raised its holdings in shares of Ironwood Pharmaceuticals by 535.8% in 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 purchasing an additional 2,126,889 shares during the period. Millennium Management LLC grew its holdings 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 worth $9,349,000 after purchasing an additional 4,140,439 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Ironwood Pharmaceuticals during the first quarter worth about $57,000. Goldman Sachs Group Inc. increased its position in Ironwood Pharmaceuticals by 72.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,575,416 shares of the biotechnology company’s stock worth $2,316,000 after buying an additional 660,144 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Ironwood Pharmaceuticals by 740.5% during the first quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock worth $5,160,000 after buying 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.