Ironwood Pharmaceuticals (NASDAQ:IRWD) Hits New 12-Month Low at $8.07

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The company traded as low as $8.07 and last traded at $8.11, with a volume of 2550719 shares changing hands. The stock had previously closed at $8.22.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IRWD shares. Piper Sandler upped their price objective on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Friday, February 16th. Wells Fargo & Company cut their target price on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an "overweight" rating on the stock in a research note on Friday, March 1st. Craig Hallum initiated coverage on shares of Ironwood Pharmaceuticals in a research note on Wednesday, January 17th. They issued a "buy" rating and a $21.00 target price on the stock. Finally, StockNews.com upgraded shares of Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Friday, March 29th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $19.80.

Ironwood Pharmaceuticals Stock Down 1.3 %

The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -1.25 and a beta of 0.55. The firm's 50 day moving average is $11.76 and its two-hundred day moving average is $10.83.

Insider Buying and Selling

In related news, CEO Thomas A. Mccourt sold 177,164 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $15.24, for a total transaction of $2,699,979.36. Following the sale, the chief executive officer now owns 832,774 shares in the company, valued at $12,691,475.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany acquired 10,684 shares of the company's stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $9.38 per share, for a total transaction of $100,215.92. Following the completion of the purchase, the chief financial officer now directly owns 301,733 shares in the company, valued at $2,830,255.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas A. Mccourt sold 177,164 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $2,699,979.36. Following the completion of the transaction, the chief executive officer now owns 832,774 shares of the company's stock, valued at approximately $12,691,475.76. The disclosure for this sale can be found here. Insiders have sold a total of 273,008 shares of company stock worth $4,160,642 over the last quarter. 13.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IRWD. Raymond James & Associates grew its position in Ironwood Pharmaceuticals by 11.1% in the 1st quarter. Raymond James & Associates now owns 24,117 shares of the biotechnology company's stock worth $303,000 after purchasing an additional 2,418 shares during the last quarter. Cetera Advisor Networks LLC grew its position in Ironwood Pharmaceuticals by 8.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 11,021 shares of the biotechnology company's stock worth $139,000 after purchasing an additional 893 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Ironwood Pharmaceuticals by 6.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 41,253 shares of the biotechnology company's stock worth $518,000 after purchasing an additional 2,402 shares during the last quarter. MetLife Investment Management LLC grew its position in Ironwood Pharmaceuticals by 55.5% in the 1st quarter. MetLife Investment Management LLC now owns 79,249 shares of the biotechnology company's stock worth $997,000 after purchasing an additional 28,288 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Ironwood Pharmaceuticals by 4.0% in the 1st quarter. Rhumbline Advisers now owns 164,608 shares of the biotechnology company's stock worth $2,071,000 after purchasing an additional 6,277 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.