Leerink Partners Has Lowered Expectations for Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price target cut by equities researchers at Leerink Partners from $3.00 to $1.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the biotechnology company’s stock. Leerink Partners’ target price indicates a potential upside of 43.20% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Craig Hallum reduced their price target on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Citizens Jmp lowered shares of Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th. Finally, JMP Securities reduced their target price 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.80.

Ironwood Pharmaceuticals Stock Down 26.1 %

Shares of NASDAQ IRWD traded down $0.25 during midday trading on Monday, hitting $0.70. The stock had a trading volume of 13,092,886 shares, compared to its average volume of 2,499,913. The stock has a 50 day simple moving average of $1.55 and a 200-day simple moving average of $3.12. The company has a market capitalization of $112.99 million, a PE ratio of -23.28 and a beta of 0.30. Ironwood Pharmaceuticals has a 1 year low of $0.59 and a 1 year high of $8.45.

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 analysts’ consensus estimates 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 firm had revenue of $90.55 million during the quarter, compared to analysts’ expectations of $93.85 million. As a group, analysts expect that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 139,064 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $244,752.64. Following the completion of the sale, the chief executive officer now owns 1,160,634 shares of the company’s stock, valued at approximately $2,042,715.84. This trade represents a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $72,633.44. Following the transaction, the chief marketing officer now directly owns 554,007 shares in the company, valued at approximately $975,052.32. This trade represents a 6.93 % decrease in their ownership of the stock. 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 90 days. Company insiders own 12.90% of the company’s stock.

Institutional Trading of Ironwood Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ironwood Pharmaceuticals during the 4th quarter worth approximately $59,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Ironwood Pharmaceuticals during the fourth quarter worth $1,888,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Ironwood Pharmaceuticals by 6.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 286,990 shares of the biotechnology company’s stock valued at $1,271,000 after purchasing an additional 17,265 shares during the last quarter. State of Wyoming increased its position in shares of Ironwood Pharmaceuticals by 37.8% in the fourth quarter. State of Wyoming now owns 41,858 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 11,479 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ironwood Pharmaceuticals during the 4th quarter worth $36,000.

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.