Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target Cut to $14.00 by Analysts at JMP Securities

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price target cut by research analysts at JMP Securities from $23.00 to $14.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ target price indicates a potential upside of 367.29% from the stock’s previous close.

IRWD has been the subject of several other research reports. StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Craig Hallum lowered their price target on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

Ironwood Pharmaceuticals Trading Down 21.2 %

IRWD stock opened at $3.00 on Thursday. The company’s 50 day moving average is $3.89 and its 200 day moving average is $4.50. The stock has a market cap of $479.45 million, a price-to-earnings ratio of -103.57 and a beta of 0.34. Ironwood Pharmaceuticals has a 1-year low of $3.06 and a 1-year high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.12 earnings per share. As a group, sell-side 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 that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the sale, the chief financial officer now directly owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its holdings in Ironwood Pharmaceuticals by 59.3% in the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 3,198 shares in the last quarter. Journey Strategic Wealth LLC purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter worth about $45,000. Wolverine Trading LLC bought a new position in Ironwood Pharmaceuticals in the 3rd quarter worth about $51,000. Diversified Trust Co purchased a new stake in Ironwood Pharmaceuticals during the 3rd quarter valued at about $52,000. Finally, SG Americas Securities LLC bought a new stake in Ironwood Pharmaceuticals during the 4th quarter valued at about $53,000.

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.