JMP Securities Has Lowered Expectations for Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its target price decreased by analysts at JMP Securities from $23.00 to $14.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price target would suggest a potential upside of 498.29% from the company’s previous close.

A number of other analysts also recently commented on IRWD. Craig Hallum decreased their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a report 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.67.

Ironwood Pharmaceuticals Stock Up 1.7 %

Shares of IRWD opened at $2.34 on Thursday. The stock’s 50 day moving average is $3.88 and its two-hundred day moving average is $4.48. Ironwood Pharmaceuticals has a twelve month low of $2.23 and a twelve month high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The business had revenue of $91.60 million for the quarter, compared to analyst estimates of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The company’s revenue was down 19.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 EPS. As a group, analysts anticipate that Ironwood Pharmaceuticals will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sravan Kumar Emany sold 11,001 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares in the company, valued at approximately $1,263,053.76. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently modified their holdings of IRWD. Pacer Advisors Inc. lifted its stake in shares of Ironwood Pharmaceuticals by 4.0% during the fourth quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock valued at $51,967,000 after buying an additional 450,949 shares during the period. State Street Corp lifted its stake in shares of Ironwood Pharmaceuticals by 7.3% during the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after purchasing an additional 677,024 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Ironwood Pharmaceuticals by 23.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock worth $7,846,000 after purchasing an additional 364,841 shares during the period. Stonepine Capital Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 1,982.8% during the third quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $4,120,000 after purchasing an additional 951,988 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Ironwood Pharmaceuticals by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 765,356 shares of the biotechnology company’s stock valued at $3,391,000 after purchasing an additional 29,629 shares during the period.

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.