Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Given Consensus Recommendation of "Buy" by Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) has received a consensus recommendation of "Buy" from the five ratings firms that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have covered the stock in the last year is $19.80.

Several brokerages have recently issued reports on IRWD. Wells Fargo & Company lowered their target price on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an "overweight" rating for the company in a report on Friday, March 1st. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Friday. Craig Hallum initiated coverage on shares of Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They issued a "buy" rating and a $21.00 price target for the company. Finally, Piper Sandler upped their price target 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.

Ironwood Pharmaceuticals Price Performance

Shares of Ironwood Pharmaceuticals stock traded down $0.10 during trading hours on Monday, hitting $8.61. The company had a trading volume of 2,446,522 shares, compared to its average volume of 4,913,631. The company's 50-day moving average is $11.97 and its two-hundred day moving average is $10.85. Ironwood Pharmaceuticals has a twelve month low of $8.07 and a twelve month high of $15.70. The company has a market cap of $1.35 billion, a P/E ratio of -1.32 and a beta of 0.55.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 177,164 shares of the company's stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 832,774 shares in the company, valued at approximately $12,691,475.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 177,164 shares of the company's stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 832,774 shares in the company, valued at approximately $12,691,475.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Michael Shetzline sold 38,618 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $588,538.32. Following the transaction, the chief marketing officer now owns 340,484 shares of the company's stock, valued at approximately $5,188,976.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 273,008 shares of company stock worth $4,160,642. 13.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Walleye Capital LLC purchased a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at about $1,608,000. Illinois Municipal Retirement Fund purchased a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at about $743,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at about $22,903,000. Quantbot Technologies LP increased its holdings in shares of Ironwood Pharmaceuticals by 95.8% in the 3rd quarter. Quantbot Technologies LP now owns 69,500 shares of the biotechnology company's stock valued at $669,000 after purchasing an additional 34,000 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Ironwood Pharmaceuticals by 160.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,462,300 shares of the biotechnology company's stock valued at $23,712,000 after purchasing an additional 1,518,500 shares in 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.