Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target Lowered to $12.00 at Wells Fargo & Company

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price objective lowered by analysts at Wells Fargo & Company from $14.00 to $12.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 183.02% from the stock’s current price.

A number of other equities research analysts have also weighed in on IRWD. Capital One Financial lowered shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $12.00 to $4.00 in a report on Thursday. Craig Hallum decreased their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday. Finally, StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD traded up $0.19 during mid-day trading on Friday, reaching $4.24. 6,885,179 shares of the company’s stock traded hands, compared to its average volume of 3,483,929. The stock’s 50-day moving average is $6.32 and its two-hundred day moving average is $8.57. Ironwood Pharmaceuticals has a 12 month low of $3.79 and a 12 month high of $15.70. The stock has a market cap of $663.68 million, a P/E ratio of -0.62 and a beta of 0.52.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.20). Ironwood Pharmaceuticals had a negative net margin of 254.41% and a negative return on equity of 28.45%. The business had revenue of $74.90 million during the quarter, compared to the consensus estimate of $105.75 million. During the same period last year, the company earned $0.25 EPS. The business’s revenue was down 28.0% compared to the same quarter last year. Research analysts predict that Ironwood Pharmaceuticals will post 0.56 earnings per share for the current year.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, Director Catherine Moukheibir sold 44,426 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $6.36, for a total transaction of $282,549.36. Following the completion of the sale, the director now owns 84,207 shares in the company, valued at $535,556.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Ironwood Pharmaceuticals news, Director Catherine Moukheibir sold 44,426 shares of Ironwood Pharmaceuticals stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $6.36, for a total value of $282,549.36. Following the transaction, the director now owns 84,207 shares in the company, valued at $535,556.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julie Mchugh sold 22,766 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $6.29, for a total transaction of $143,198.14. Following the sale, the director now directly owns 139,528 shares of the company’s stock, valued at $877,631.12. The disclosure for this sale can be found here. Corporate insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its stake in Ironwood Pharmaceuticals by 61.4% during the 4th quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock worth $25,000 after buying an additional 822 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Ironwood Pharmaceuticals by 331.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 1,900 shares in the last quarter. CWM LLC boosted its holdings in Ironwood Pharmaceuticals by 55.1% in the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 2,345 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Ironwood Pharmaceuticals by 152.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 2,645 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Ironwood Pharmaceuticals by 344.1% during the second quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 8,156 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.