Craig Hallum Cuts Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target to $8.00

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price objective lowered by Craig Hallum from $10.00 to $8.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

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

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ:IRWD opened at $3.71 on Wednesday. Ironwood Pharmaceuticals has a 52-week low of $3.06 and a 52-week high of $15.70. The company has a market capitalization of $593.71 million, a PE ratio of -123.67 and a beta of 0.34. The company has a fifty day moving average of $3.90 and a 200-day moving average of $4.57.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). The firm had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. Ironwood Pharmaceuticals’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 earnings per share. On average, equities analysts forecast that Ironwood Pharmaceuticals will post 0.08 EPS for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s 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. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Ironwood Pharmaceuticals by 48.6% in the second quarter. Dimensional Fund Advisors LP now owns 213,619 shares of the biotechnology company’s stock worth $1,393,000 after purchasing an additional 69,848 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Ironwood Pharmaceuticals by 60.2% in the 2nd quarter. Hsbc Holdings PLC now owns 25,923 shares of the biotechnology company’s stock valued at $167,000 after acquiring an additional 9,740 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Ironwood Pharmaceuticals by 9.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 307,786 shares of the biotechnology company’s stock valued at $2,007,000 after acquiring an additional 26,168 shares during the period. Armistice Capital LLC boosted its stake in Ironwood Pharmaceuticals by 44.4% during the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock worth $50,856,000 after acquiring an additional 2,400,000 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Ironwood Pharmaceuticals by 45.7% in the second quarter. AQR Capital Management LLC now owns 684,578 shares of the biotechnology company’s stock worth $4,463,000 after purchasing an additional 214,836 shares during the period.

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.