Brokerages Set Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Target Price at $8.60

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $8.60.

A number of research firms recently commented on IRWD. Craig Hallum decreased their target price on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, JMP Securities decreased their target price on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a report on Thursday, January 30th.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ IRWD opened at $1.71 on Thursday. The company has a market cap of $273.65 million, a PE ratio of -57.00 and a beta of 0.29. The business has a 50-day simple moving average of $3.26 and a two-hundred day simple moving average of $3.87. Ironwood Pharmaceuticals has a fifty-two week low of $1.59 and a fifty-two week high of $15.26.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CMO Michael Shetzline sold 41,269 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $72,633.44. Following the completion of the transaction, the chief marketing officer now directly owns 554,007 shares of the company’s stock, valued at approximately $975,052.32. The trade was a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas A. Mccourt sold 139,064 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $244,752.64. Following the completion of the transaction, the chief executive officer now directly owns 1,160,634 shares of the company’s stock, valued at $2,042,715.84. The trade was a 10.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,381 shares of company stock valued at $338,591. 12.90% of the stock is owned by company insiders.

Institutional Trading of Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. increased its position in shares of Ironwood Pharmaceuticals by 4.0% in the fourth quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock valued at $51,967,000 after buying an additional 450,949 shares in the last quarter. State Street Corp increased its position in shares of Ironwood Pharmaceuticals by 7.3% in the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock valued at $40,870,000 after buying an additional 677,024 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Ironwood Pharmaceuticals by 23.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock valued at $7,846,000 after buying an additional 364,841 shares in the last quarter. FMR LLC increased its position in shares of Ironwood Pharmaceuticals by 25.1% in the third quarter. FMR LLC now owns 169,681 shares of the biotechnology company’s stock valued at $699,000 after buying an additional 34,089 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at approximately $893,000.

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.