Ironwood Pharmaceuticals (NASDAQ:IRWD) Receives “Equal Weight” Rating from Wells Fargo & Company

Ironwood Pharmaceuticals (NASDAQ:IRWD)‘s stock had its “equal weight” rating reissued by stock analysts at Wells Fargo & Company in a report issued on Tuesday,Benzinga reports. They currently have a $1.00 target price on the biotechnology company’s stock, down from their prior target price of $7.00. Wells Fargo & Company‘s price objective points to a potential upside of 54.34% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on IRWD. JMP Securities reduced their price target 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. Citizens Jmp downgraded Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday. Leerink Partners decreased their target price on Ironwood Pharmaceuticals from $3.00 to $1.00 and set a “market perform” rating on the stock in a research report on Monday. StockNews.com raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 29th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $0.70 price objective (down from $8.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Ironwood Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $4.78.

Ironwood Pharmaceuticals Trading Down 31.5 %

Shares of IRWD stock opened at $0.65 on Tuesday. Ironwood Pharmaceuticals has a twelve month low of $0.59 and a twelve month high of $8.45. The stock has a 50 day moving average of $1.52 and a 200 day moving average of $3.10. The stock has a market cap of $104.84 million, a P/E ratio of -21.60 and a beta of 0.30.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $90.55 million for the quarter, compared to analysts’ expectations of $93.85 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. On average, research analysts predict that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $36,000. Journey Strategic Wealth LLC purchased a new stake in Ironwood Pharmaceuticals in the 4th quarter valued at $45,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter worth $47,000. Envestnet Asset Management Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the 4th quarter worth $50,000. Finally, Xponance Inc. acquired a new position in shares of Ironwood Pharmaceuticals during the 4th quarter valued at about $50,000.

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.