Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives Average Rating of “Buy” from Analysts

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWDGet Free Report) have received a consensus rating of “Buy” from the five brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $19.80.

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler lifted their price objective on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Wells Fargo & Company reduced their price objective on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Finally, Craig Hallum assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They set a “buy” rating and a $21.00 target price for the company.

Read Our Latest Analysis on Ironwood Pharmaceuticals

Insiders Place Their Bets

In related news, Director Jon R. Duane purchased 6,920 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $8.70 per share, with a total value of $60,204.00. Following the completion of the purchase, the director now directly owns 121,028 shares of the company’s stock, valued at $1,052,943.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Thomas A. Mccourt sold 177,164 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $2,699,979.36. Following the completion of the transaction, the chief executive officer now owns 832,774 shares in the company, valued at $12,691,475.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jon R. Duane acquired 6,920 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $8.70 per share, for a total transaction of $60,204.00. Following the transaction, the director now owns 121,028 shares of the company’s stock, valued at $1,052,943.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 273,008 shares of company stock valued at $4,160,642. 13.10% of the stock is currently owned by insiders.

Institutional Trading of Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC acquired a new stake in Ironwood Pharmaceuticals during the third quarter worth about $1,608,000. Illinois Municipal Retirement Fund bought a new position in Ironwood Pharmaceuticals in the 3rd quarter valued at approximately $743,000. Jacobs Levy Equity Management Inc. bought a new position in Ironwood Pharmaceuticals in the 3rd quarter valued at approximately $22,903,000. Quantbot Technologies LP raised its holdings in Ironwood Pharmaceuticals by 95.8% in the 3rd quarter. Quantbot Technologies LP now owns 69,500 shares of the biotechnology company’s stock valued at $669,000 after buying an additional 34,000 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Ironwood Pharmaceuticals by 160.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,462,300 shares of the biotechnology company’s stock valued at $23,712,000 after buying an additional 1,518,500 shares during the last quarter.

Ironwood Pharmaceuticals Stock Up 1.0 %

Shares of IRWD stock opened at $8.71 on Monday. The stock has a market capitalization of $1.36 billion, a PE ratio of -1.34 and a beta of 0.56. Ironwood Pharmaceuticals has a 52-week low of $8.07 and a 52-week high of $15.70. The stock’s 50-day moving average price is $12.06 and its 200 day moving average price is $10.85.

Ironwood Pharmaceuticals Company Profile

(Get Free Report

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.

Featured Articles

Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

Receive News & Ratings for Ironwood Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.