Brokerages Set Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Target Price at $8.60

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have been given an average rating of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $8.60.

A number of equities research analysts recently commented on IRWD shares. StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. JMP Securities decreased their price target on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a report on Thursday, January 30th. Finally, Craig Hallum decreased their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd.

Insider Transactions at Ironwood Pharmaceuticals

In related news, CMO Michael Shetzline sold 41,269 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $72,633.44. Following the transaction, the chief marketing officer now owns 554,007 shares of the company’s stock, valued at approximately $975,052.32. This represents a 6.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas A. Mccourt sold 139,064 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $244,752.64. Following the transaction, the chief executive officer now directly owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. The trade was a 10.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,381 shares of company stock worth $338,591. 12.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its position in shares of Ironwood Pharmaceuticals by 4.0% during the 4th quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock worth $51,967,000 after acquiring an additional 450,949 shares in the last quarter. State Street Corp raised its position 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 acquiring an additional 677,024 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Ironwood Pharmaceuticals by 5.5% during the 4th quarter. Renaissance Technologies LLC now owns 9,066,241 shares of the biotechnology company’s stock worth $40,163,000 after acquiring an additional 469,043 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Ironwood Pharmaceuticals by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,306,570 shares of the biotechnology company’s stock worth $14,652,000 after acquiring an additional 13,028 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Ironwood Pharmaceuticals by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,983,240 shares of the biotechnology company’s stock worth $8,786,000 after acquiring an additional 78,969 shares in the last quarter.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD stock opened at $1.82 on Thursday. The stock’s 50-day simple moving average is $3.36 and its 200-day simple moving average is $3.95. The firm has a market capitalization of $290.45 million, a price-to-earnings ratio of -60.50 and a beta of 0.29. Ironwood Pharmaceuticals has a fifty-two week low of $1.59 and a fifty-two week high of $15.26.

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.