Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $12.17.

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Craig Hallum reduced their target price on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $12.00 to $4.00 in a research note on Thursday, August 8th. Leerink Partners began coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They set a “market perform” rating and a $5.00 price target on the stock. Finally, Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th.

Insider Transactions at Ironwood Pharmaceuticals

In other news, insider Minardo John sold 9,910 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 284,661 shares of the company’s stock, valued at $1,215,502.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 worth $170,031,000 after buying an additional 3,487,821 shares during the period. Armistice Capital LLC increased its holdings in Ironwood Pharmaceuticals by 44.4% in the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock worth $50,856,000 after buying an additional 2,400,000 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Ironwood Pharmaceuticals by 23.6% during the 2nd quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company’s stock worth $58,078,000 after purchasing an additional 1,701,452 shares during the last quarter. Kynam Capital Management LP bought a new position in Ironwood Pharmaceuticals during the first quarter valued at about $14,154,000. Finally, Renaissance Technologies LLC raised its stake in shares of Ironwood Pharmaceuticals by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock valued at $55,889,000 after acquiring an additional 1,472,097 shares in the last quarter.

Ironwood Pharmaceuticals Stock Performance

IRWD opened at $4.02 on Monday. Ironwood Pharmaceuticals has a 1 year low of $3.79 and a 1 year high of $15.70. The firm has a 50 day moving average price of $5.07 and a 200 day moving average price of $6.45. The company has a market cap of $629.25 million, a PE ratio of -0.59 and a beta of 0.49.

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.