Ironwood Pharmaceuticals (NASDAQ:IRWD) Given Hold Rating at Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of Ironwood Pharmaceuticals (NASDAQ:IRWD - Free Report) in a research note published on Tuesday, MarketBeat reports. They currently have a $0.70 price target on the biotechnology company's stock, down from their prior price target of $8.00.

IRWD has been the subject of a number of other research reports. JMP Securities reduced their price objective on 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. Craig Hallum decreased their price target on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Leerink Partners dropped their price objective on shares of Ironwood Pharmaceuticals from $3.00 to $1.00 and set a "market perform" rating on the stock in a research note on Monday, April 14th. StockNews.com raised shares of Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 29th. Finally, Citizens Jmp downgraded Ironwood Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $4.78.

Ironwood Pharmaceuticals Stock Down 3.3 %

Ironwood Pharmaceuticals stock traded down $0.03 during mid-day trading on Tuesday, hitting $0.73. 3,326,562 shares of the stock were exchanged, compared to its average volume of 2,563,595. The stock has a market capitalization of $117.31 million, a price-to-earnings ratio of -24.17 and a beta of 0.30. Ironwood Pharmaceuticals has a 12 month low of $0.59 and a 12 month high of $8.45. The firm's fifty day simple moving average is $1.44 and its two-hundred day simple moving average is $3.01.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last announced its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.08). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm had revenue of $90.55 million for the quarter, compared to the consensus estimate of $93.85 million. As a group, analysts forecast that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, 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 transaction of $244,752.64. Following the sale, the chief executive officer now directly owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. This trade represents a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Michael Shetzline sold 41,269 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $72,633.44. Following the completion of the transaction, the chief marketing officer now directly owns 554,007 shares in the company, valued at approximately $975,052.32. This represents a 6.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,381 shares of company stock valued at $338,591. Corporate insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several large investors have recently made changes to their positions in IRWD. Pacer Advisors Inc. grew 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 buying an additional 450,949 shares during the period. State Street Corp grew 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 acquiring an additional 677,024 shares during the period. Renaissance Technologies LLC increased its stake in shares of Ironwood Pharmaceuticals by 5.5% during the 4th quarter. Renaissance Technologies LLC now owns 9,066,241 shares of the biotechnology company's stock worth $40,163,000 after purchasing an additional 469,043 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Ironwood Pharmaceuticals by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,306,570 shares of the biotechnology company's stock worth $14,652,000 after purchasing an additional 13,028 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,983,240 shares of the biotechnology company's stock worth $8,786,000 after purchasing an additional 78,969 shares during the period.

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.