Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives Consensus Rating of “Buy” from Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has been assigned a consensus rating of “Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $19.80.

IRWD has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Craig Hallum initiated coverage on Ironwood Pharmaceuticals in a report on Wednesday, January 17th. They set a “buy” rating and a $21.00 price objective on the stock. StockNews.com downgraded Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, April 6th. Finally, Wells Fargo & Company decreased their price objective on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, March 1st.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ:IRWD opened at $7.75 on Friday. The company has a market cap of $1.21 billion, a P/E ratio of -1.19 and a beta of 0.55. The stock’s 50-day moving average is $9.23 and its 200-day moving average is $10.65. Ironwood Pharmaceuticals has a 52-week low of $7.53 and a 52-week high of $15.70.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, CMO Michael Shetzline sold 38,618 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $588,538.32. Following the completion of the transaction, the chief marketing officer now owns 340,484 shares in the company, valued at approximately $5,188,976.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CMO Michael Shetzline sold 38,618 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $588,538.32. Following the completion of the transaction, the chief marketing officer now owns 340,484 shares in the company, valued at approximately $5,188,976.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon R. Duane acquired 6,920 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $8.70 per share, with a total value of $60,204.00. Following the acquisition, the director now directly owns 121,028 shares in the company, valued at $1,052,943.60. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 273,008 shares of company stock worth $4,160,642. Corporate insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently modified their holdings of IRWD. Signaturefd LLC lifted its stake in Ironwood Pharmaceuticals by 61.4% in the 4th quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 822 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Ironwood Pharmaceuticals by 331.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 1,900 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Ironwood Pharmaceuticals by 96.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,997 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,961 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Ironwood Pharmaceuticals by 152.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock valued at $50,000 after acquiring an additional 2,645 shares during the last quarter. Finally, Headlands Technologies LLC increased its stake in Ironwood Pharmaceuticals by 396.5% in the third quarter. Headlands Technologies LLC now owns 6,737 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 5,380 shares during the last quarter.

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.