Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives $19.80 Consensus PT from Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWDGet Free Report) has earned a consensus recommendation of “Buy” from the five analysts that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is $19.80.

Several research firms recently commented on IRWD. Piper Sandler boosted 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. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Craig Hallum started coverage on Ironwood Pharmaceuticals in a report on Wednesday, January 17th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, March 1st.

Read Our Latest Research Report on IRWD

Ironwood Pharmaceuticals Stock Down 1.3 %

Ironwood Pharmaceuticals stock opened at $8.11 on Monday. Ironwood Pharmaceuticals has a 52 week low of $8.07 and a 52 week high of $15.70. The business has a 50-day simple moving average of $11.76 and a 200 day simple moving average of $10.83. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -1.25 and a beta of 0.55.

Insider Buying and Selling

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 177,164 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 832,774 shares in the company, valued at approximately $12,691,475.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 177,164 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 832,774 shares in the company, valued at approximately $12,691,475.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jon R. Duane bought 6,920 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average price of $8.70 per share, for a total transaction of $60,204.00. Following the completion of the purchase, the director now owns 121,028 shares in the company, valued at approximately $1,052,943.60. The disclosure for this purchase can be found here. Insiders have sold 273,008 shares of company stock worth $4,160,642 in the last 90 days. Insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of IRWD. Voya Investment Management LLC raised its holdings in Ironwood Pharmaceuticals by 0.6% in the 4th quarter. Voya Investment Management LLC now owns 116,057 shares of the biotechnology company’s stock worth $1,328,000 after purchasing an additional 726 shares during the period. Old West Investment Management LLC raised its holdings in Ironwood Pharmaceuticals by 1.4% in the 4th quarter. Old West Investment Management LLC now owns 56,921 shares of the biotechnology company’s stock worth $651,000 after purchasing an additional 761 shares during the period. Signaturefd LLC raised its holdings in Ironwood Pharmaceuticals by 61.4% during the fourth quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 822 shares during the period. Cetera Advisor Networks LLC raised its holdings in Ironwood Pharmaceuticals by 8.8% during the first quarter. Cetera Advisor Networks LLC now owns 11,021 shares of the biotechnology company’s stock valued at $139,000 after acquiring an additional 893 shares during the period. Finally, Virtus ETF Advisers LLC raised its holdings in Ironwood Pharmaceuticals by 3.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 28,489 shares of the biotechnology company’s stock valued at $326,000 after acquiring an additional 951 shares during the period.

About Ironwood Pharmaceuticals

(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.

Further Reading

Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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