Craig Hallum Cuts Ironwood Pharmaceuticals (NASDAQ:IRWD) Price Target to $8.00

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its target price cut by Craig Hallum from $10.00 to $8.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Separately, StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Ironwood Pharmaceuticals Trading Down 1.6 %

NASDAQ IRWD opened at $3.71 on Wednesday. The company has a market cap of $593.71 million, a P/E ratio of -123.67 and a beta of 0.34. The company has a fifty day simple moving average of $3.90 and a 200 day simple moving average of $4.57. Ironwood Pharmaceuticals has a 12-month low of $3.06 and a 12-month high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. During the same period in the previous year, the firm earned $0.12 earnings per share. The company’s revenue was down 19.4% on a year-over-year basis. Sell-side analysts predict that Ironwood Pharmaceuticals will post 0.08 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares in the company, valued at $1,263,053.76. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. KBC Group NV grew its stake in shares of Ironwood Pharmaceuticals by 59.3% in the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 3,198 shares during the last quarter. Journey Strategic Wealth LLC bought a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter worth approximately $45,000. Wolverine Trading LLC purchased a new position in shares of Ironwood Pharmaceuticals during the third quarter valued at approximately $51,000. Diversified Trust Co bought a new position in shares of Ironwood Pharmaceuticals during the third quarter valued at approximately $52,000. Finally, SG Americas Securities LLC purchased a new stake in Ironwood Pharmaceuticals in the fourth quarter worth $53,000.

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.