Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Given Consensus Rating of “Hold” by Brokerages

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.34.

IRWD has been the subject of a number of research reports. Wells Fargo & Company increased their price objective on Ironwood Pharmaceuticals from $1.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. Zacks Research downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in shares of Ironwood Pharmaceuticals by 248.3% in the third quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock valued at $15,321,000 after acquiring an additional 8,337,672 shares during the last quarter. Armistice Capital LLC grew its stake in Ironwood Pharmaceuticals by 44.7% in the first quarter. Armistice Capital LLC now owns 13,700,000 shares of the biotechnology company’s stock valued at $20,139,000 after purchasing an additional 4,232,000 shares in the last quarter. Millennium Management LLC increased its position in shares of Ironwood Pharmaceuticals by 186.6% during the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock worth $9,349,000 after purchasing an additional 4,140,439 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Ironwood Pharmaceuticals by 147.6% during the 2nd quarter. Acadian Asset Management LLC now owns 6,549,687 shares of the biotechnology company’s stock worth $4,685,000 after purchasing an additional 3,904,498 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Ironwood Pharmaceuticals by 144.3% during the 2nd quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock worth $4,422,000 after purchasing an additional 3,641,762 shares in the last quarter.

Ironwood Pharmaceuticals Stock Down 0.6%

Shares of NASDAQ:IRWD opened at $3.21 on Wednesday. Ironwood Pharmaceuticals has a 12 month low of $0.53 and a 12 month high of $4.78. The company’s fifty day simple moving average is $2.76 and its 200 day simple moving average is $1.64. The firm has a market cap of $522.20 million, a price-to-earnings ratio of 20.06 and a beta of 0.18.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Monday, November 10th. The biotechnology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.15. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. The firm had revenue of $122.06 million during the quarter, compared to analyst estimates of $74.22 million. Research analysts expect that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.