Ironwood Pharmaceuticals (NASDAQ:IRWD) Given Hold Rating at Jefferies Financial Group

Jefferies Financial Group reaffirmed their hold rating on shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) in a report issued on Tuesday, MarketBeat Ratings reports. Jefferies Financial Group currently has a $0.70 price target on the biotechnology company’s stock, down from their prior price target of $8.00.

Other equities analysts also recently issued reports about the company. 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. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th. Craig Hallum dropped their target price on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Leerink Partners reduced their price target on shares of Ironwood Pharmaceuticals from $3.00 to $1.00 and set a “market perform” rating for the company in a research report on Monday. Finally, Citizens Jmp cut Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.78.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD opened at $0.72 on Tuesday. Ironwood Pharmaceuticals has a fifty-two week low of $0.59 and a fifty-two week high of $8.45. The firm’s 50-day simple moving average is $1.50 and its two-hundred day simple moving average is $3.08. The stock has a market cap of $116.86 million, a PE ratio of -24.07 and a beta of 0.30.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results 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 return on equity of 0.96% and a negative net margin of 0.65%. The company had revenue of $90.55 million during the quarter, compared to analysts’ expectations of $93.85 million. Equities research analysts predict that Ironwood Pharmaceuticals will post 0.1 EPS for the current year.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 139,064 shares of the business’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 $244,752.64. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Michael Shetzline sold 41,269 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 $72,633.44. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,381 shares of company stock worth $338,591 over the last quarter. Company insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Ironwood Pharmaceuticals by 25.1% in the 3rd quarter. FMR LLC now owns 169,681 shares of the biotechnology company’s stock worth $699,000 after purchasing an additional 34,089 shares during the period. Quantinno Capital Management LP raised its position in Ironwood Pharmaceuticals by 40.0% in the third quarter. Quantinno Capital Management LP now owns 19,191 shares of the biotechnology company’s stock worth $79,000 after acquiring an additional 5,482 shares during the period. State Street Corp raised its position in Ironwood Pharmaceuticals by 7.3% in the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after acquiring an additional 677,024 shares during the period. Wolverine Trading LLC purchased a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter worth $51,000. Finally, Jane Street Group LLC grew its position in shares of Ironwood Pharmaceuticals by 102.7% during the 3rd quarter. Jane Street Group LLC now owns 323,638 shares of the biotechnology company’s stock valued at $1,333,000 after acquiring an additional 164,006 shares during the period.

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.