Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Ironwood’s key marketed drug, Linzess has blockbuster potential, if approved for additional indications. We are also encouraged by Ironwood's partnership deals for the development and commercialization of Linzess in different territories. However, Ironwood is dependent on Linzess for growth. Notably, any Linzess-related pipeline/regulatory setbacks would weigh heavily on the stock, given that the rest of its pipeline is mostly mid-stage in nature. Moreover, Linzess' target market has quite a few players, with other companies working on bringing new products to market.”

A number of other equities research analysts also recently issued reports on IRWD. Wedbush reiterated a “neutral” rating and issued a $10.00 price objective on shares of Ironwood Pharmaceuticals in a research report on Thursday, August 4th. Cowen and Company reiterated a “buy” rating on shares of Ironwood Pharmaceuticals in a research report on Thursday, May 26th. Leerink Swann reiterated a “market perform” rating and issued a $14.00 price objective (up previously from $10.00) on shares of Ironwood Pharmaceuticals in a research report on Monday, August 8th. JPMorgan Chase & Co. increased their price objective on Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Finally, Barclays PLC increased their price objective on Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $15.20.

Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) traded up 0.94% during midday trading on Tuesday, reaching $15.03. The company had a trading volume of 739,766 shares. The company has a 50 day moving average of $13.75 and a 200 day moving average of $12.32. The company’s market capitalization is $2.18 billion. Ironwood Pharmaceuticals has a one year low of $7.35 and a one year high of $15.33.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.01. Ironwood Pharmaceuticals had a negative return on equity of 94.75% and a negative net margin of 45.21%. The business earned $54.40 million during the quarter, compared to analysts’ expectations of $54.49 million. During the same quarter last year, the business posted ($0.34) EPS. The company’s quarterly revenue was up 96.4% on a year-over-year basis. Analysts predict that Ironwood Pharmaceuticals will post ($0.75) EPS for the current fiscal year.

In other news, Director Lawrence S. Olanoff sold 3,200 shares of Ironwood Pharmaceuticals stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $13.72, for a total value of $43,904.00. Following the transaction, the director now owns 29,305 shares in the company, valued at $402,064.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 7.17% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of IRWD. Norges Bank acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at about $10,266,000. Fisher Asset Management LLC acquired a new stake in Ironwood Pharmaceuticals during the first quarter valued at about $2,656,000. BlackRock Group LTD boosted its stake in Ironwood Pharmaceuticals by 34.8% in the first quarter. BlackRock Group LTD now owns 125,601 shares of the company’s stock valued at $1,374,000 after buying an additional 32,394 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Ironwood Pharmaceuticals by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,229,012 shares of the company’s stock valued at $35,325,000 after buying an additional 9,050 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Ironwood Pharmaceuticals by 1.3% in the first quarter. JPMorgan Chase & Co. now owns 764,631 shares of the company’s stock valued at $8,365,000 after buying an additional 10,102 shares during the last quarter. 93.96% of the stock is currently owned by institutional investors.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders.

5 Day Chart for NASDAQ:IRWD

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