JMP Securities Lowers Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target to $14.00

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price objective cut by JMP Securities from $23.00 to $14.00 in a report issued on Thursday morning,Benzinga reports. They currently have a market outperform rating on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the company. Craig Hallum lowered their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. StockNews.com lowered shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.67.

Ironwood Pharmaceuticals Trading Down 38.2 %

IRWD opened at $2.30 on Thursday. The company’s 50 day moving average is $3.90 and its 200 day moving average is $4.50. The company has a market cap of $368.07 million, a price-to-earnings ratio of -76.67 and a beta of 0.34. Ironwood Pharmaceuticals has a 12-month low of $2.25 and a 12-month high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data 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 return on equity of 0.96% and a negative net margin of 0.65%. The company had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. During the same period last year, the business earned $0.12 EPS. The firm’s quarterly revenue was down 19.4% compared to the same quarter last year. As a group, analysts predict that Ironwood Pharmaceuticals will post 0.08 EPS for the current fiscal year.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the sale, the chief financial officer now owns 309,572 shares in the company, valued at approximately $1,263,053.76. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.90% of the company’s stock.

Institutional Trading of Ironwood Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 4.0% in the fourth quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock worth $51,967,000 after buying an additional 450,949 shares during the last quarter. State Street Corp boosted its stake in shares of Ironwood Pharmaceuticals by 7.3% in the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after buying an additional 677,024 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 23.7% in the third 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. FMR LLC boosted its stake in shares of Ironwood Pharmaceuticals by 25.1% in the third quarter. FMR LLC now owns 169,681 shares of the biotechnology company’s stock worth $699,000 after buying an additional 34,089 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of Ironwood Pharmaceuticals in the third quarter worth about $893,000.

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.