Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives $12.17 Average PT from Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $12.17.

IRWD has been the topic of several research analyst reports. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. StockNews.com raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Craig Hallum cut their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Wells Fargo & Company cut their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD opened at $3.98 on Friday. The stock has a 50-day moving average price of $4.43 and a 200-day moving average price of $5.88. The company has a market cap of $622.99 million, a PE ratio of -0.59 and a beta of 0.48. Ironwood Pharmaceuticals has a 12-month low of $3.79 and a 12-month high of $15.70.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, August 12th. The stock was sold at an average price of $4.27, for a total transaction of $42,315.70. Following the completion of the sale, the insider now directly owns 284,661 shares of the company’s stock, valued at $1,215,502.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Ironwood Pharmaceuticals by 21.8% during the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock valued at $170,031,000 after purchasing an additional 3,487,821 shares during the last quarter. Armistice Capital LLC raised its holdings in shares of Ironwood Pharmaceuticals by 44.4% during the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock valued at $50,856,000 after acquiring an additional 2,400,000 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 23.6% during the second quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company’s stock valued at $58,078,000 after acquiring an additional 1,701,452 shares during the last quarter. Kynam Capital Management LP purchased a new stake in shares of Ironwood Pharmaceuticals in the first quarter valued at approximately $14,154,000. Finally, Renaissance Technologies LLC grew its position in shares of Ironwood Pharmaceuticals by 20.7% in the second 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 in 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.