Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target Cut to $1.00 by Analysts at Leerink Partners

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) had its price objective dropped by analysts at Leerink Partners from $3.00 to $1.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the biotechnology company's stock. Leerink Partners' price objective indicates a potential upside of 37.93% from the company's previous close.

IRWD has been the topic of several other research reports. StockNews.com raised Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 29th. Craig Hallum reduced their price target 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. Citizens Jmp downgraded shares of Ironwood Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Monday, April 14th. Finally, JMP Securities decreased their price target 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. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.78.

Ironwood Pharmaceuticals Trading Down 3.3 %

IRWD traded down $0.03 during trading hours on Monday, hitting $0.73. The company's stock had a trading volume of 3,326,562 shares, compared to its average volume of 2,563,472. The business's 50-day moving average price is $1.44 and its 200-day moving average price is $3.02. The stock has a market cap 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.

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

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, CEO Thomas A. Mccourt sold 139,064 shares of the 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 completion of the sale, the chief executive officer now owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. This represents a 10.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the chief marketing officer now 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 disclosure for this sale can be found here. Insiders have sold 192,381 shares of company stock worth $338,591 over the last quarter. Insiders own 12.90% of the company's stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its position in shares of Ironwood Pharmaceuticals by 4.0% in the 4th 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 last quarter. State Street Corp raised its holdings in shares of Ironwood Pharmaceuticals by 7.3% in 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. FMR LLC grew its holdings 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. Jane Street Group LLC increased its position in shares of Ironwood Pharmaceuticals by 102.7% in the 3rd quarter. Jane Street Group LLC now owns 323,638 shares of the biotechnology company's stock valued at $1,333,000 after acquiring an additional 164,006 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in 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 acquiring an additional 78,969 shares during 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.