Ironwood Pharmaceuticals (NASDAQ:IRWD) Downgraded to Buy at StockNews.com

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Separately, Piper Sandler raised their target price on Ironwood Pharmaceuticals from $16.00 to $19.00 in a research report on Tuesday.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD opened at $10.81 on Thursday. The stock’s fifty day moving average is $10.59 and its 200-day moving average is $11.25. Ironwood Pharmaceuticals has a one year low of $9.73 and a one year high of $12.66. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 10.70 and a beta of 0.95.

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) last released its earnings results on Thursday, May 4th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Ironwood Pharmaceuticals had a return on equity of 29.40% and a net margin of 43.63%. The firm had revenue of $104.06 million for the quarter, compared to analyst estimates of $100.60 million. During the same quarter last year, the firm posted $0.21 EPS. The company’s revenue was up 6.7% on a year-over-year basis. Analysts forecast that Ironwood Pharmaceuticals will post 1.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas A. Mccourt sold 21,148 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $10.62, for a total value of $224,591.76. Following the transaction, the chief executive officer now directly owns 820,916 shares of the company’s stock, valued at $8,718,127.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Thomas A. Mccourt sold 30,004 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $11.41, for a total value of $342,345.64. Following the completion of the transaction, the chief executive officer now owns 712,581 shares in the company, valued at $8,130,549.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas A. Mccourt sold 21,148 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $10.62, for a total transaction of $224,591.76. Following the completion of the transaction, the chief executive officer now owns 820,916 shares of the company’s stock, valued at approximately $8,718,127.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 161,931 shares of company stock valued at $1,790,377. Insiders own 13.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Natixis purchased a new position in Ironwood Pharmaceuticals during the 4th quarter worth $30,000. Signaturefd LLC grew its stake in shares of Ironwood Pharmaceuticals by 778.9% during the 1st quarter. Signaturefd LLC now owns 3,173 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 2,812 shares during the period. Goodman Advisory Group LLC acquired a new position in shares of Ironwood Pharmaceuticals during the 1st quarter worth $37,000. Quadrant Capital Group LLC grew its stake in shares of Ironwood Pharmaceuticals by 2,065.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,768 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 3,594 shares during the period. Finally, Gladius Capital Management LP acquired a new position in shares of Ironwood Pharmaceuticals during the 4th quarter worth $40,000.

Ironwood Pharmaceuticals Company Profile

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Ironwood Pharmaceuticals, Inc is a healthcare company, which engages in the development and commercialization of Gastrointestinal (GI) products. It operates through the Human Therapeutics segment. The company was founded on January 5, 1998 and is headquartered in Boston, MA.