Craig Hallum Has Lowered Expectations for Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its target price reduced by Craig Hallum from $10.00 to $8.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Separately, StockNews.com cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Ironwood Pharmaceuticals Stock Performance

Ironwood Pharmaceuticals stock opened at $3.72 on Wednesday. Ironwood Pharmaceuticals has a fifty-two week low of $3.06 and a fifty-two week high of $15.70. The company has a market capitalization of $595.31 million, a price-to-earnings ratio of -124.00 and a beta of 0.34. The stock has a fifty day moving average of $3.93 and a two-hundred day moving average of $4.60.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $91.22 million. During the same quarter in the prior year, the business posted $0.12 EPS. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. On average, analysts forecast that Ironwood Pharmaceuticals will post 0.08 EPS for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the transaction, the chief financial officer now owns 309,572 shares in the company, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IRWD. State Street Corp increased its stake in Ironwood Pharmaceuticals by 7.3% during the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after acquiring an additional 677,024 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Ironwood Pharmaceuticals by 23.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock worth $7,846,000 after purchasing an additional 364,841 shares in the last quarter. FMR LLC increased its position in Ironwood Pharmaceuticals by 25.1% during the 3rd quarter. FMR LLC now owns 169,681 shares of the biotechnology company’s stock worth $699,000 after purchasing an additional 34,089 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Ironwood Pharmaceuticals by 26.6% in the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock valued at $46,473,000 after buying an additional 2,372,183 shares during the period. Finally, Weiss Asset Management LP acquired a new position in Ironwood Pharmaceuticals during the third quarter valued at approximately $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.