Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $8.60.

A number of research firms have weighed in on IRWD. Craig Hallum reduced their target price on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, JMP Securities cut their price target on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 30th.

Ironwood Pharmaceuticals Stock Down 1.4 %

IRWD stock opened at $1.71 on Thursday. The business’s fifty day simple moving average is $3.26 and its two-hundred day simple moving average is $3.87. Ironwood Pharmaceuticals has a twelve month low of $1.59 and a twelve month high of $15.26. The firm has a market cap of $273.65 million, a price-to-earnings ratio of -57.00 and a beta of 0.29.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 139,064 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $244,752.64. Following the transaction, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of Ironwood Pharmaceuticals 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 transaction, the chief marketing officer now owns 554,007 shares in the company, valued at $975,052.32. This trade represents a 6.93 % decrease in their position. 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.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRWD. KBC Group NV grew its stake in Ironwood Pharmaceuticals by 59.3% in the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 3,198 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ironwood Pharmaceuticals in the fourth quarter worth about $36,000. Journey Strategic Wealth LLC acquired a new stake in Ironwood Pharmaceuticals in the fourth quarter worth about $45,000. Catalyst Funds Management Pty Ltd acquired a new stake in Ironwood Pharmaceuticals in the fourth quarter worth about $47,000. Finally, Xponance Inc. acquired a new stake in Ironwood Pharmaceuticals in the fourth quarter worth about $50,000.

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.