Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target Cut to $1.00 by Analysts at Leerink Partners

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price objective decreased by Leerink Partners from $3.00 to $1.00 in a report issued on Monday morning,Benzinga reports. Leerink Partners currently has a market perform rating on the biotechnology company’s stock.

IRWD has been the subject of a number of other research reports. JMP Securities decreased their price objective on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a report on Thursday, January 30th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 29th. Craig Hallum dropped 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. Finally, Citizens Jmp lowered shares of Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $7.80.

Ironwood Pharmaceuticals Price Performance

IRWD opened at $0.65 on Monday. Ironwood Pharmaceuticals has a 12-month low of $0.59 and a 12-month high of $8.45. The stock has a market capitalization of $104.84 million, a PE ratio of -21.60 and a beta of 0.30. The firm’s fifty day moving average price is $1.52 and its 200 day moving average price is $3.10.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $90.55 million during the quarter, compared to analyst estimates of $93.85 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. On average, equities research analysts forecast that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 139,064 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $244,752.64. Following the transaction, the chief executive officer now owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. The trade was a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Michael Shetzline sold 41,269 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $72,633.44. Following the sale, the chief marketing officer now owns 554,007 shares of the company’s stock, valued at $975,052.32. This trade represents a 6.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 192,381 shares of company stock valued at $338,591. 12.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of hedge funds have recently modified their holdings of IRWD. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ironwood Pharmaceuticals in the 4th quarter worth about $36,000. Journey Strategic Wealth LLC purchased a new position in shares of Ironwood Pharmaceuticals in the fourth quarter worth approximately $45,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter valued at approximately $47,000. Xponance Inc. purchased a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter valued at approximately $50,000. Finally, Envestnet Asset Management Inc. acquired a new position in Ironwood Pharmaceuticals in the 4th quarter worth approximately $50,000.

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.