Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives $6.23 Consensus Target Price from Analysts

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.2333.

A number of brokerages have commented on IRWD. Zacks Research upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, April 27th. Finally, Wall Street Zen upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Sunday, May 17th.

Ironwood Pharmaceuticals Price Performance

IRWD stock traded down $0.20 during mid-day trading on Friday, hitting $4.47. 2,773,273 shares of the stock were exchanged, compared to its average volume of 2,588,706. The business has a fifty day moving average price of $3.88 and a 200 day moving average price of $3.95. Ironwood Pharmaceuticals has a 12 month low of $0.67 and a 12 month high of $5.78. The stock has a market capitalization of $728.88 million, a price-to-earnings ratio of 7.45 and a beta of 0.20.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $106.51 million for the quarter, compared to the consensus estimate of $92.11 million. Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. As a group, equities analysts forecast that Ironwood Pharmaceuticals will post 1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 21,571 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.73, for a total transaction of $80,459.83. Following the completion of the sale, the director directly owned 250,749 shares in the company, valued at $935,293.77. This represents a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ronald Silver sold 127,890 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $4.52, for a total value of $578,062.80. Following the transaction, the insider directly owned 313,680 shares in the company, valued at $1,417,833.60. This trade represents a 28.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in shares of Ironwood Pharmaceuticals by 248.3% during the third quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock valued at $15,321,000 after purchasing an additional 8,337,672 shares during the period. Millennium Management LLC increased its stake in shares of Ironwood Pharmaceuticals by 186.6% in the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock worth $9,349,000 after buying an additional 4,140,439 shares during the period. AQR Capital Management LLC increased its stake in shares of Ironwood Pharmaceuticals by 144.3% in the second quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock worth $4,422,000 after buying an additional 3,641,762 shares during the period. Marshall Wace LLP increased its stake in shares of Ironwood Pharmaceuticals by 616.3% in the second quarter. Marshall Wace LLP now owns 3,993,557 shares of the biotechnology company’s stock worth $2,875,000 after buying an additional 3,436,036 shares during the period. Finally, Jane Street Group LLC raised its holdings in Ironwood Pharmaceuticals by 740.5% during the 1st quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock valued at $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.