Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives $18.40 Average PT from Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has been given an average rating of “Buy” by the five analysts that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $18.40.

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday. Craig Hallum dropped their price target on Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, May 10th.

Ironwood Pharmaceuticals Trading Up 6.2 %

IRWD opened at $6.88 on Wednesday. Ironwood Pharmaceuticals has a 1-year low of $5.47 and a 1-year high of $15.70. The stock’s fifty day simple moving average is $6.36 and its 200 day simple moving average is $9.31. The stock has a market cap of $1.08 billion, a PE ratio of -1.01 and a beta of 0.52.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.20). Ironwood Pharmaceuticals had a negative net margin of 254.41% and a negative return on equity of 28.45%. The business had revenue of $74.90 million during the quarter, compared to the consensus estimate of $105.75 million. During the same quarter last year, the company posted $0.25 EPS. The firm’s revenue was down 28.0% on a year-over-year basis. Equities analysts forecast that Ironwood Pharmaceuticals will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 22,766 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $6.29, for a total transaction of $143,198.14. Following the transaction, the director now owns 139,528 shares in the company, valued at approximately $877,631.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Julie Mchugh sold 22,766 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $6.29, for a total value of $143,198.14. Following the transaction, the director now owns 139,528 shares in the company, valued at $877,631.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Catherine Moukheibir sold 44,426 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $6.36, for a total value of $282,549.36. Following the completion of the transaction, the director now owns 84,207 shares in the company, valued at approximately $535,556.52. The disclosure for this sale can be found here. Company insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IRWD. Vanguard Group Inc. increased its position in shares of Ironwood Pharmaceuticals by 21.8% in the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock worth $170,031,000 after purchasing an additional 3,487,821 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Ironwood Pharmaceuticals in the third quarter worth $22,903,000. Armistice Capital LLC increased its position in shares of Ironwood Pharmaceuticals by 64.9% in the fourth quarter. Armistice Capital LLC now owns 5,700,000 shares of the biotechnology company’s stock worth $65,208,000 after purchasing an additional 2,244,000 shares during the period. Kynam Capital Management LP acquired a new stake in Ironwood Pharmaceuticals in the first quarter valued at about $14,154,000. Finally, Hodges Capital Management Inc. acquired a new stake in Ironwood Pharmaceuticals in the first quarter valued at about $7,521,000.

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.