Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives $4.78 Average Target Price from Analysts

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $4.78.

A number of research firms have recently commented on IRWD. Leerink Partners cut their target price on shares of Ironwood Pharmaceuticals from $3.00 to $1.00 and set a “market perform” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company reissued an “equal weight” rating and set a $1.00 target price (down previously from $7.00) on shares of Ironwood Pharmaceuticals in a research note on Tuesday, April 15th. Wall Street Zen raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Citizens Jmp cut shares of Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, April 14th. Finally, Craig Hallum cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 16th.

Ironwood Pharmaceuticals Stock Down 6.1%

IRWD stock opened at $0.73 on Wednesday. The stock has a market capitalization of $118.27 million, a P/E ratio of -3.65 and a beta of 0.24. The firm has a 50-day simple moving average of $0.71 and a 200-day simple moving average of $1.87. Ironwood Pharmaceuticals has a 52 week low of $0.53 and a 52 week high of $7.11.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Wednesday, May 7th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.09). The company had revenue of $41.14 million for the quarter, compared to analysts’ expectations of $67.02 million. Ironwood Pharmaceuticals had a negative return on equity of 1.87% and a negative net margin of 9.89%. On average, analysts expect that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current year.

Institutional Trading of Ironwood Pharmaceuticals

Several large investors have recently bought and sold shares of IRWD. Armistice Capital LLC grew its stake in Ironwood Pharmaceuticals by 44.7% during the 1st quarter. Armistice Capital LLC now owns 13,700,000 shares of the biotechnology company’s stock valued at $20,139,000 after acquiring an additional 4,232,000 shares in the last quarter. Millennium Management LLC boosted its holdings in Ironwood Pharmaceuticals by 186.6% in the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after purchasing an additional 4,140,439 shares during the last quarter. Jane Street Group LLC boosted its holdings in Ironwood Pharmaceuticals by 740.5% in the 1st quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock valued at $5,160,000 after purchasing an additional 3,092,475 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Ironwood Pharmaceuticals by 535.8% in the 1st quarter. AQR Capital Management LLC now owns 2,523,875 shares of the biotechnology company’s stock valued at $3,710,000 after purchasing an additional 2,126,889 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Ironwood Pharmaceuticals by 160.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,645,189 shares of the biotechnology company’s stock valued at $3,878,000 after purchasing an additional 1,630,726 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.