Ironwood Pharmaceuticals (NASDAQ:IRWD) Lowered to Hold Rating by Craig Hallum

Ironwood Pharmaceuticals (NASDAQ:IRWD) was downgraded by analysts at Craig Hallum from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Citizens Jmp cut shares of Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday. Wells Fargo & Company reissued an “equal weight” rating and issued a $1.00 price objective (down previously from $7.00) on shares of Ironwood Pharmaceuticals in a research report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and set a $0.70 price target (down previously from $8.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday. Leerink Partners lowered their price target on Ironwood Pharmaceuticals from $3.00 to $1.00 and set a “market perform” rating on the stock in a research report on Monday. Finally, JMP Securities decreased their target price on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 30th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Ironwood Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $4.78.

Ironwood Pharmaceuticals Trading Down 3.3 %

Shares of NASDAQ:IRWD opened at $0.73 on Wednesday. Ironwood Pharmaceuticals has a 1-year low of $0.59 and a 1-year high of $8.45. The stock has a market capitalization of $117.31 million, a P/E ratio of -24.17 and a beta of 0.30. The business has a 50-day moving average price of $1.46 and a two-hundred day moving average price of $3.04.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business had revenue of $90.55 million during the quarter, compared to analyst estimates of $93.85 million. As a group, equities analysts predict that Ironwood Pharmaceuticals will post 0.1 EPS for the current year.

Insider Buying and Selling

In other Ironwood Pharmaceuticals news, 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Michael Shetzline sold 41,269 shares of the firm’s stock in a transaction on 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 owns 554,007 shares in the company, valued at approximately $975,052.32. This trade represents a 6.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,381 shares of company stock worth $338,591 over the last ninety days. 12.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRWD. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at about $36,000. Journey Strategic Wealth LLC bought a new position in shares of Ironwood Pharmaceuticals during the 4th quarter valued at about $45,000. Simplicity Wealth LLC purchased a new position in shares of Ironwood Pharmaceuticals during the 1st quarter valued at about $45,000. Catalyst Funds Management Pty Ltd bought a new stake in Ironwood Pharmaceuticals in the 4th quarter worth approximately $47,000. Finally, Xponance Inc. purchased a new stake in Ironwood Pharmaceuticals in the fourth quarter worth approximately $50,000.

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.