Wells Fargo & Company Trims Ironwood Pharmaceuticals (NASDAQ:IRWD) Target Price to $12.00

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price objective decreased by Wells Fargo & Company from $14.00 to $12.00 in a report issued on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biotechnology company’s stock.

A number of other equities research analysts also recently weighed in on IRWD. Craig Hallum dropped their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a buy rating for the company in a research report on Friday. Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an overweight rating to an equal weight rating and dropped their price target for the company from $12.00 to $4.00 in a research report on Thursday. Finally, StockNews.com upgraded shares of Ironwood Pharmaceuticals from a hold rating to a buy rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $15.00.

Ironwood Pharmaceuticals Stock Up 4.7 %

Ironwood Pharmaceuticals stock traded up $0.19 during mid-day trading on Friday, hitting $4.24. 6,885,179 shares of the company’s stock were exchanged, compared to its average volume of 3,483,929. The company’s 50 day simple moving average is $6.32 and its 200-day simple moving average is $8.57. Ironwood Pharmaceuticals has a fifty-two week low of $3.79 and a fifty-two week high of $15.70. The firm has a market capitalization of $663.68 million, a P/E ratio of -0.62 and a beta of 0.52.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share (EPS) 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 company had revenue of $74.90 million during the quarter, compared to analyst estimates of $105.75 million. During the same period in the prior year, the firm posted $0.25 EPS. Ironwood Pharmaceuticals’s revenue was down 28.0% compared to the same quarter last year. Research analysts expect that Ironwood Pharmaceuticals will post 0.56 EPS for the current year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, Director Catherine Moukheibir sold 44,426 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $6.36, for a total transaction of $282,549.36. Following the transaction, the director now owns 84,207 shares of the company’s stock, valued at approximately $535,556.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Julie Mchugh sold 22,766 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $6.29, for a total value of $143,198.14. Following the sale, 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 is available at this hyperlink. Also, Director Catherine Moukheibir sold 44,426 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $6.36, for a total transaction of $282,549.36. Following the completion of the sale, 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. Insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its holdings in Ironwood Pharmaceuticals by 10.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,330 shares of the biotechnology company’s stock valued at $175,000 after acquiring an additional 1,483 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Ironwood Pharmaceuticals by 645.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 48,616 shares of the biotechnology company’s stock valued at $556,000 after acquiring an additional 42,091 shares during the period. Louisiana State Employees Retirement System bought a new stake in Ironwood Pharmaceuticals during the 4th quarter valued at $786,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ironwood Pharmaceuticals by 19.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,721 shares of the biotechnology company’s stock valued at $374,000 after acquiring an additional 5,318 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in Ironwood Pharmaceuticals by 331.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 1,900 shares during the period.

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.