Ironwood Pharmaceuticals (NASDAQ:IRWD) Receives "Equal Weight" Rating from Wells Fargo & Company

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report)'s stock had its "equal weight" rating restated by investment analysts at Wells Fargo & Company in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $1.00 price target on the biotechnology company's stock, down from their previous price target of $7.00. Wells Fargo & Company's price objective indicates a potential upside of 37.93% from the company's previous close.

Other analysts have also issued research reports about the stock. Leerink Partners reduced their target price on shares of Ironwood Pharmaceuticals from $3.00 to $1.00 and set a "market perform" rating for the company in a research note on Monday, April 14th. Craig Hallum decreased their price objective on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. Citizens Jmp downgraded shares of Ironwood Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Monday, April 14th. JMP Securities reduced their target price on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a "market outperform" rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com upgraded shares of Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 29th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $4.78.

Ironwood Pharmaceuticals Trading Down 3.3 %

IRWD stock traded down $0.03 during mid-day trading on Tuesday, reaching $0.73. The company's stock had a trading volume of 3,326,562 shares, compared to its average volume of 2,563,595. Ironwood Pharmaceuticals has a 12 month low of $0.59 and a 12 month high of $8.45. The business's 50 day moving average price is $1.44 and its 200 day moving average price is $3.01. The company has a market cap of $117.31 million, a price-to-earnings ratio of -24.17 and a beta of 0.30.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $90.55 million during the quarter, compared to analyst estimates of $93.85 million. As a group, equities analysts expect that Ironwood Pharmaceuticals will post 0.1 EPS for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In related news, CEO Thomas A. Mccourt sold 139,064 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $244,752.64. Following the completion of the transaction, the chief executive officer now directly owns 1,160,634 shares in the company, valued at $2,042,715.84. The trade was a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Michael Shetzline sold 41,269 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1.76, for a total value 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. The trade was a 6.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 192,381 shares of company stock valued at $338,591. Corporate insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC grew its position in Ironwood Pharmaceuticals by 25.1% in the third quarter. FMR LLC now owns 169,681 shares of the biotechnology company's stock worth $699,000 after acquiring an additional 34,089 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Ironwood Pharmaceuticals by 40.0% in the 3rd quarter. Quantinno Capital Management LP now owns 19,191 shares of the biotechnology company's stock worth $79,000 after purchasing an additional 5,482 shares in the last quarter. State Street Corp increased its position in shares of Ironwood Pharmaceuticals by 7.3% during the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company's stock valued at $40,870,000 after purchasing an additional 677,024 shares during the last quarter. Wolverine Trading LLC bought a new stake in Ironwood Pharmaceuticals in the 3rd quarter worth approximately $51,000. Finally, Jane Street Group LLC boosted its stake in Ironwood Pharmaceuticals by 102.7% in the third quarter. Jane Street Group LLC now owns 323,638 shares of the biotechnology company's stock worth $1,333,000 after buying an additional 164,006 shares in the last quarter.

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.