Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Rating Lowered by StockNews.com

Ironwood Pharmaceuticals (NASDAQ:IRWD) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other research firms have also recently weighed in on IRWD. JMP Securities lowered their target price on 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 Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.60.

Ironwood Pharmaceuticals Trading Down 0.6 %

NASDAQ IRWD opened at $1.61 on Friday. The stock’s 50-day moving average price is $3.16 and its two-hundred day moving average price is $3.84. The company has a market cap of $257.65 million, a PE ratio of -53.67 and a beta of 0.29. Ironwood Pharmaceuticals has a 1 year low of $1.55 and a 1 year high of $11.00.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business had revenue of $90.55 million for the quarter, compared to analysts’ expectations of $93.85 million. Research analysts forecast that Ironwood Pharmaceuticals will post 0.1 EPS for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CMO Michael Shetzline sold 41,269 shares of the company’s stock in a transaction that occurred 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 owns 554,007 shares of the company’s stock, valued at $975,052.32. This represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas A. Mccourt sold 139,064 shares of the company’s stock in a transaction that occurred 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 directly owns 1,160,634 shares of the company’s stock, valued at $2,042,715.84. The trade was a 10.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,381 shares of company stock valued at $338,591. 12.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in IRWD. Pacer Advisors Inc. boosted its position in Ironwood Pharmaceuticals by 26.6% during the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock worth $46,473,000 after purchasing an additional 2,372,183 shares during the period. Stonepine Capital Management LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 1,982.8% during the third quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $4,120,000 after buying an additional 951,988 shares during the last quarter. State Street Corp lifted its holdings 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 worth $40,870,000 after buying an additional 677,024 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Ironwood Pharmaceuticals by 47.4% during the fourth quarter. Deutsche Bank AG now owns 1,567,535 shares of the biotechnology company’s stock worth $6,944,000 after buying an additional 504,336 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 5.5% during the fourth quarter. Renaissance Technologies LLC now owns 9,066,241 shares of the biotechnology company’s stock worth $40,163,000 after buying an additional 469,043 shares during the last quarter.

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.