Brokerages Set Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) PT at $8.60

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.60.

Several equities analysts have issued reports on the stock. JMP Securities lowered their target price on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 30th. Craig Hallum lowered their target price on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Finally, StockNews.com cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th.

Insider Buying and Selling

In other news, CMO Michael Shetzline sold 41,269 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $72,633.44. Following the completion of the sale, the chief marketing officer now directly owns 554,007 shares in the company, valued at approximately $975,052.32. This trade represents a 6.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas A. Mccourt sold 139,064 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $244,752.64. Following the sale, the chief executive officer now owns 1,160,634 shares of the company’s stock, valued at approximately $2,042,715.84. This trade represents a 10.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,381 shares of company stock worth $338,591 over the last three months. 12.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV grew its stake in Ironwood Pharmaceuticals by 59.3% in the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 3,198 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $36,000. Journey Strategic Wealth LLC purchased a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $45,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $47,000. Finally, Xponance Inc. purchased a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $50,000.

Ironwood Pharmaceuticals Price Performance

IRWD stock opened at $1.82 on Thursday. Ironwood Pharmaceuticals has a one year low of $1.59 and a one year high of $15.26. The firm has a 50 day simple moving average of $3.36 and a two-hundred day simple moving average of $3.95. The stock has a market cap of $290.45 million, a PE ratio of -60.50 and a beta of 0.29.

About Ironwood Pharmaceuticals

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.