Analysts Set Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Price Target at $13.57

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four 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 $12.17.

Several equities research analysts recently weighed in on IRWD shares. Wells Fargo & Company cut their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Craig Hallum cut their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. StockNews.com raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Leerink Partners assumed coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They set a “market perform” rating and a $5.00 target price on the stock. Finally, Capital One Financial downgraded Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $12.00 to $4.00 in a report on Thursday, August 8th.

Ironwood Pharmaceuticals Stock Down 1.0 %

NASDAQ IRWD opened at $4.02 on Monday. Ironwood Pharmaceuticals has a twelve month low of $3.79 and a twelve month high of $15.70. The company has a market cap of $629.25 million, a price-to-earnings ratio of -0.61 and a beta of 0.49. The business’s fifty day moving average is $5.12 and its 200 day moving average is $6.50.

Insider Activity at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 9,910 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $4.27, for a total value of $42,315.70. Following the completion of the sale, the insider now directly owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its stake in Ironwood Pharmaceuticals by 244.8% during the 1st quarter. Russell Investments Group Ltd. now owns 777,847 shares of the biotechnology company’s stock valued at $6,775,000 after purchasing an additional 552,227 shares during the last quarter. Eventide Asset Management LLC acquired a new position in Ironwood Pharmaceuticals during the 4th quarter valued at about $8,472,000. Norges Bank acquired a new position in Ironwood Pharmaceuticals during the 4th quarter valued at about $9,321,000. Entropy Technologies LP acquired a new position in Ironwood Pharmaceuticals during the 1st quarter valued at about $693,000. Finally, First Eagle Investment Management LLC boosted its stake in Ironwood Pharmaceuticals by 10.5% during the 1st quarter. First Eagle Investment Management LLC now owns 1,002,225 shares of the biotechnology company’s stock valued at $8,729,000 after purchasing an additional 95,000 shares during the last quarter.

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.