Craig Hallum Lowers Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target to $10.00

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price objective cut by investment analysts at Craig Hallum from $14.00 to $10.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Craig Hallum’s price target indicates a potential upside of 135.85% from the company’s previous close.

Several other research firms have also recently commented on IRWD. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $12.00 to $4.00 in a research report on Thursday. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Ironwood Pharmaceuticals Price Performance

NASDAQ:IRWD traded up $0.19 on Friday, reaching $4.24. The stock had a trading volume of 6,885,179 shares, compared to its average volume of 3,483,929. The company has a market cap of $663.68 million, a price-to-earnings ratio of -0.62 and a beta of 0.52. The firm’s fifty day moving average is $6.32 and its two-hundred day moving average is $8.57. Ironwood Pharmaceuticals has a 12-month low of $3.79 and a 12-month high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.20). Ironwood Pharmaceuticals had a negative net margin of 254.41% and a negative return on equity of 28.45%. The firm had revenue of $74.90 million during the quarter, compared to analyst estimates of $105.75 million. During the same period last year, the business earned $0.25 EPS. The firm’s revenue was down 28.0% compared to the same quarter last year. As a group, research analysts forecast that Ironwood Pharmaceuticals will post 0.56 earnings per share for the current fiscal year.

Insider Transactions at Ironwood Pharmaceuticals

In other news, Director Julie Mchugh sold 22,766 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $6.29, for a total value of $143,198.14. Following the completion of the transaction, the director now directly owns 139,528 shares in the company, valued at approximately $877,631.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Julie Mchugh sold 22,766 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $6.29, for a total transaction of $143,198.14. Following the completion of the sale, the director now owns 139,528 shares in the company, valued at $877,631.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Catherine Moukheibir sold 44,426 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $6.36, for a total transaction of $282,549.36. Following the transaction, the director now directly owns 84,207 shares in the company, valued at approximately $535,556.52. The disclosure for this sale can be found here. 12.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC grew its stake in Ironwood Pharmaceuticals by 61.4% in the fourth quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 822 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Ironwood Pharmaceuticals by 331.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock worth $29,000 after buying an additional 1,900 shares during the period. CWM LLC increased its holdings in Ironwood Pharmaceuticals by 55.1% in the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 2,345 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Ironwood Pharmaceuticals by 152.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 2,645 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Ironwood Pharmaceuticals by 344.1% during the second quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 8,156 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.