Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Receives Average Rating of “Buy” from Brokerages

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have been assigned an average recommendation of “Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $19.80.

Several equities research analysts have weighed in on IRWD shares. Piper Sandler upped their price target on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Wells Fargo & Company dropped their price target on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Craig Hallum initiated coverage on Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, StockNews.com cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, April 6th.

Ironwood Pharmaceuticals Stock Performance

NASDAQ IRWD opened at $8.08 on Friday. Ironwood Pharmaceuticals has a fifty-two week low of $7.53 and a fifty-two week high of $15.70. The stock’s fifty day moving average is $9.64 and its two-hundred day moving average is $10.66. The firm has a market capitalization of $1.26 billion, a P/E ratio of -1.24 and a beta of 0.55.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, CMO Michael Shetzline sold 38,618 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $588,538.32. Following the sale, the chief marketing officer now owns 340,484 shares of the company’s stock, valued at $5,188,976.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ironwood Pharmaceuticals news, CMO Michael Shetzline sold 38,618 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $588,538.32. Following the transaction, the chief marketing officer now directly owns 340,484 shares in the company, valued at $5,188,976.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrew Davis sold 9,846 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $15.24, for a total transaction of $150,053.04. Following the completion of the sale, the senior vice president now directly owns 208,324 shares of the company’s stock, valued at approximately $3,174,857.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,008 shares of company stock valued at $4,160,642. 13.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRWD. Old West Investment Management LLC lifted its holdings in shares of 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 in the last quarter. Signaturefd LLC increased its position in shares of Ironwood Pharmaceuticals by 61.4% during the 4th quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 822 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in Ironwood Pharmaceuticals by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 68,745 shares of the biotechnology company’s stock worth $786,000 after acquiring an additional 980 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Ironwood Pharmaceuticals by 10.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,330 shares of the biotechnology company’s stock worth $175,000 after acquiring an additional 1,483 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Ironwood Pharmaceuticals by 331.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 1,900 shares in the last quarter.

About Ironwood Pharmaceuticals

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.