Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target Lowered to $8.00 at Craig Hallum

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price target dropped by research analysts at Craig Hallum from $10.00 to $8.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Craig Hallum’s target price would indicate a potential upside of 111.08% from the stock’s previous close.

Separately, StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Ironwood Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Ironwood Pharmaceuticals Stock Up 3.6 %

NASDAQ IRWD opened at $3.79 on Wednesday. Ironwood Pharmaceuticals has a 52 week low of $3.06 and a 52 week high of $15.70. The firm has a market capitalization of $606.51 million, a price-to-earnings ratio of -126.33 and a beta of 0.34. The company has a fifty day moving average of $3.94 and a two-hundred day moving average of $4.62.

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

Insider Buying and Selling

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now directly owns 309,572 shares of the company’s stock, valued at $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Large investors have recently modified their holdings of the business. Pacer Advisors Inc. boosted its position in Ironwood Pharmaceuticals by 26.6% during the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 2,372,183 shares in the last quarter. State Street Corp boosted its holdings in shares of Ironwood Pharmaceuticals by 7.3% in the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock valued at $40,870,000 after buying an additional 677,024 shares in the last quarter. Armistice Capital LLC grew its position in shares of Ironwood Pharmaceuticals by 44.4% in the 2nd quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock worth $50,856,000 after buying an additional 2,400,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Ironwood Pharmaceuticals by 23.7% in 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 buying an additional 364,841 shares during the last quarter. Finally, Stonepine Capital Management LLC raised its stake in shares of Ironwood Pharmaceuticals by 1,982.8% during the 3rd quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $4,120,000 after acquiring an additional 951,988 shares in 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.