Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives Average Recommendation of “Hold” from Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has been assigned an average rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.34.

A number of research firms have recently commented on IRWD. Zacks Research cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Wells Fargo & Company increased their target price on Ironwood Pharmaceuticals from $1.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday.

Ironwood Pharmaceuticals Price Performance

Shares of NASDAQ:IRWD opened at $3.54 on Wednesday. Ironwood Pharmaceuticals has a 1-year low of $0.53 and a 1-year high of $5.13. The business has a fifty day moving average price of $2.60 and a 200-day moving average price of $1.55. The company has a market capitalization of $575.89 million, a PE ratio of 22.13 and a beta of 0.18.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Monday, November 10th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.15. The company had revenue of $122.06 million for the quarter, compared to analysts’ expectations of $74.22 million. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. On average, sell-side analysts anticipate that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Ironwood Pharmaceuticals by 248.3% during the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock valued at $15,321,000 after buying an additional 8,337,672 shares during the last quarter. Armistice Capital LLC grew its holdings in shares of Ironwood Pharmaceuticals by 44.7% in the first quarter. Armistice Capital LLC now owns 13,700,000 shares of the biotechnology company’s stock worth $20,139,000 after acquiring an additional 4,232,000 shares during the period. Millennium Management LLC grew its holdings in shares of Ironwood Pharmaceuticals by 186.6% in the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock worth $9,349,000 after acquiring an additional 4,140,439 shares during the period. Acadian Asset Management LLC increased its position in Ironwood Pharmaceuticals by 147.6% during the second quarter. Acadian Asset Management LLC now owns 6,549,687 shares of the biotechnology company’s stock valued at $4,685,000 after acquiring an additional 3,904,498 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Ironwood Pharmaceuticals by 144.3% in the second quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock valued at $4,422,000 after acquiring an additional 3,641,762 shares during the period.

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.