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

Ironwood Pharmaceuticals (NASDAQ:IRWDGet Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other analysts have also issued reports on IRWD. Piper Sandler boosted their price target on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Wells Fargo & Company cut their target price on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Finally, Craig Hallum started coverage on shares of Ironwood Pharmaceuticals in a research note on Wednesday, January 17th. They set a “buy” rating and a $21.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ironwood Pharmaceuticals has an average rating of “Buy” and an average price target of $19.80.

View Our Latest Analysis on IRWD

Ironwood Pharmaceuticals Price Performance

Shares of NASDAQ:IRWD opened at $8.71 on Friday. The firm has a market capitalization of $1.36 billion, a PE ratio of -1.34 and a beta of 0.56. The firm’s 50-day moving average is $12.06 and its two-hundred day moving average is $10.84. Ironwood Pharmaceuticals has a 1 year low of $8.07 and a 1 year high of $15.70.

Insider Activity

In other news, CEO Thomas A. Mccourt sold 177,164 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $2,699,979.36. Following the completion of the sale, the chief executive officer now owns 832,774 shares in the company, valued at $12,691,475.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Thomas A. Mccourt sold 177,164 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $2,699,979.36. Following the completion of the sale, the chief executive officer now owns 832,774 shares in the company, valued at $12,691,475.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jon R. Duane purchased 6,920 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $8.70 per share, with a total value of $60,204.00. Following the purchase, the director now directly owns 121,028 shares of the company’s stock, valued at $1,052,943.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 273,008 shares of company stock valued at $4,160,642. 13.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Armistice Capital LLC purchased a new position in shares of Ironwood Pharmaceuticals in the third quarter valued at $33,281,000. State Street Corp boosted its stake in shares of Ironwood Pharmaceuticals by 31.2% during the second quarter. State Street Corp now owns 10,886,805 shares of the biotechnology company’s stock valued at $125,525,000 after acquiring an additional 2,589,738 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Ironwood Pharmaceuticals during the third quarter valued at $22,903,000. Millennium Management LLC boosted its stake in shares of Ironwood Pharmaceuticals by 121.0% during the fourth quarter. Millennium Management LLC now owns 3,989,942 shares of the biotechnology company’s stock valued at $49,435,000 after acquiring an additional 2,184,767 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in shares of Ironwood Pharmaceuticals by 566.8% during the third quarter. Jupiter Asset Management Ltd. now owns 2,210,985 shares of the biotechnology company’s stock valued at $21,292,000 after acquiring an additional 1,879,401 shares during the last quarter.

Ironwood Pharmaceuticals Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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