Ironwood Pharmaceuticals (NASDAQ:IRWD) Sets New 52-Week Low After Analyst Downgrade

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price hit a new 52-week low during mid-day trading on Friday after JMP Securities lowered their price target on the stock from $23.00 to $14.00. JMP Securities currently has a market outperform rating on the stock. Ironwood Pharmaceuticals traded as low as $2.25 and last traded at $2.30, with a volume of 10525325 shares trading hands. The stock had previously closed at $3.72.

Several other research analysts have also recently weighed in on the company. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Craig Hallum decreased their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.67.

Insider Buying and Selling at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the sale, the chief financial officer now directly owns 309,572 shares in the company, valued at approximately $1,263,053.76. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its position in Ironwood Pharmaceuticals by 4.0% during the fourth quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock valued at $51,967,000 after purchasing an additional 450,949 shares during the period. State Street Corp grew its stake in shares of Ironwood Pharmaceuticals by 7.3% during the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock valued at $40,870,000 after buying an additional 677,024 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ironwood Pharmaceuticals by 23.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock valued at $7,846,000 after buying an additional 364,841 shares during the last quarter. FMR LLC grew its stake in shares of Ironwood Pharmaceuticals by 25.1% during the third quarter. FMR LLC now owns 169,681 shares of the biotechnology company’s stock valued at $699,000 after buying an additional 34,089 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Ironwood Pharmaceuticals during the third quarter valued at approximately $893,000.

Ironwood Pharmaceuticals Stock Up 1.7 %

The stock has a market cap of $374.47 million, a P/E ratio of -78.00 and a beta of 0.34. The business has a 50 day moving average price of $3.88 and a 200 day moving average price of $4.48.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. During the same period last year, the company earned $0.12 EPS. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. On average, research analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current fiscal year.

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.