Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.40.

IRWD has been the topic of several research reports. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Wells Fargo & Company reduced their target price on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target on the stock. Capital One Financial cut shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Finally, Craig Hallum decreased their price objective on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of IRWD. Vanguard Group Inc. raised its holdings in Ironwood Pharmaceuticals by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock valued at $170,031,000 after acquiring an additional 3,487,821 shares during the period. Armistice Capital LLC grew its position in shares of Ironwood Pharmaceuticals by 44.4% in the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock valued at $50,856,000 after purchasing an additional 2,400,000 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Ironwood Pharmaceuticals by 26.6% during the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock worth $46,473,000 after purchasing an additional 2,372,183 shares during the period. Kynam Capital Management LP acquired a new stake in Ironwood Pharmaceuticals during the 1st quarter worth approximately $14,154,000. Finally, Renaissance Technologies LLC boosted its stake in Ironwood Pharmaceuticals by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock valued at $55,889,000 after purchasing an additional 1,472,097 shares during the period.

Ironwood Pharmaceuticals Stock Performance

NASDAQ IRWD opened at $4.02 on Tuesday. Ironwood Pharmaceuticals has a 52-week low of $3.79 and a 52-week high of $15.70. The business has a 50 day simple moving average of $4.27 and a 200 day simple moving average of $5.45. The stock has a market cap of $642.15 million, a price-to-earnings ratio of -134.00 and a beta of 0.47.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued 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). The company had revenue of $91.60 million for the quarter, compared to analyst estimates of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The company’s revenue was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 earnings per share. On average, analysts predict that Ironwood Pharmaceuticals will post 0.1 EPS for the current year.

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.