Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives $3.68 Consensus Target Price from Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $3.6750.

IRWD has been the topic of several research reports. Craig Hallum upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Wells Fargo & Company upped their target price on shares of Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Zacks Research upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Citigroup raised shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, January 5th. Finally, Citizens Jmp raised shares of Ironwood Pharmaceuticals from a “market perform” rating to a “market outperform” rating and set a $8.00 target price for the company in a research note on Monday, January 5th.

Ironwood Pharmaceuticals Stock Performance

IRWD opened at $4.56 on Thursday. The stock’s 50 day moving average price is $4.07 and its 200-day moving average price is $2.48. The stock has a market capitalization of $741.82 million, a PE ratio of 28.50 and a beta of 0.17. Ironwood Pharmaceuticals has a 52-week low of $0.53 and a 52-week high of $5.78.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Monday, November 10th. The biotechnology company reported $0.24 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $74.22 million. Research analysts forecast that Ironwood Pharmaceuticals will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in IRWD. Armistice Capital LLC increased its holdings in shares of Ironwood Pharmaceuticals by 17.9% during the second quarter. Armistice Capital LLC now owns 16,150,000 shares of the biotechnology company’s stock valued at $11,583,000 after acquiring an additional 2,450,000 shares in the last quarter. Bank of America Corp DE grew its position in Ironwood Pharmaceuticals by 248.3% during the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock valued at $15,321,000 after purchasing an additional 8,337,672 shares during the last quarter. Acadian Asset Management LLC increased its stake in 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 valued at $4,685,000 after purchasing an additional 3,904,498 shares in the last quarter. Millennium Management LLC raised its holdings in Ironwood Pharmaceuticals by 186.6% in the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock worth $9,349,000 after buying an additional 4,140,439 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Ironwood Pharmaceuticals by 144.3% in the second quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock worth $4,422,000 after buying an additional 3,641,762 shares in the last quarter.

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.