Ironwood Pharmaceuticals (NASDAQ:IRWD) Downgraded by Wall Street Zen to “Buy”

Ironwood Pharmaceuticals (NASDAQ:IRWD) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

IRWD has been the topic of several other research reports. Citigroup raised Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, January 5th. Craig Hallum upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Wells Fargo & Company raised their target price on Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Citizens Jmp lifted their price target on shares of Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ironwood Pharmaceuticals has a consensus rating of “Hold” and an average price target of $4.93.

Ironwood Pharmaceuticals Stock Performance

NASDAQ IRWD opened at $3.49 on Friday. The firm has a 50-day simple moving average of $4.32 and a 200 day simple moving average of $2.91. Ironwood Pharmaceuticals has a twelve month low of $0.53 and a twelve month high of $5.78. The stock has a market cap of $567.75 million, a PE ratio of 26.85 and a beta of 0.24.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Wednesday, February 25th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Ironwood Pharmaceuticals had a negative return on equity of 13.72% and a net margin of 8.11%.The firm had revenue of $47.71 million for the quarter, compared to analyst estimates of $86.10 million. Research analysts forecast that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in shares of Ironwood Pharmaceuticals by 9.6% in the 4th quarter. ProShare Advisors LLC now owns 36,315 shares of the biotechnology company’s stock worth $122,000 after purchasing an additional 3,170 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Ironwood Pharmaceuticals by 21.4% in the third quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 3,406 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Ironwood Pharmaceuticals by 7.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 76,951 shares of the biotechnology company’s stock valued at $259,000 after buying an additional 5,598 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Ironwood Pharmaceuticals by 11.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 67,888 shares of the biotechnology company’s stock worth $229,000 after buying an additional 7,120 shares during the last quarter. Finally, Merit Financial Group LLC increased its holdings in shares of Ironwood Pharmaceuticals by 17.4% during the third quarter. Merit Financial Group LLC now owns 48,879 shares of the biotechnology company’s stock worth $64,000 after buying an additional 7,232 shares in the last quarter.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.