StockNews.com Upgrades Ironwood Pharmaceuticals (NASDAQ:IRWD) to Strong-Buy

StockNews.com upgraded shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) from a buy rating to a strong-buy rating in a research report report published on Monday morning.

A number of other analysts have also issued reports on the company. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Wells Fargo & Company decreased their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Capital One Financial downgraded Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $12.00 to $4.00 in a report on Thursday, August 8th. Leerink Partners initiated coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target for the company. Finally, Craig Hallum lowered their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ironwood Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $12.17.

Ironwood Pharmaceuticals Price Performance

IRWD stock opened at $4.66 on Monday. The firm has a market capitalization of $744.39 million, a P/E ratio of 116.50 and a beta of 0.47. Ironwood Pharmaceuticals has a 52-week low of $3.79 and a 52-week high of $15.70. The company’s 50 day simple moving average is $4.32 and its 200-day simple moving average is $5.64.

Insider Activity at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $4.27, for a total transaction of $42,315.70. Following the transaction, the insider now owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 21.8% during the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock worth $170,031,000 after acquiring an additional 3,487,821 shares in the last quarter. Armistice Capital LLC boosted its position in Ironwood Pharmaceuticals by 44.4% during the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock worth $50,856,000 after purchasing an additional 2,400,000 shares during the period. Pacer Advisors Inc. boosted its position in Ironwood Pharmaceuticals by 23.6% during the second quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company’s stock worth $58,078,000 after purchasing an additional 1,701,452 shares during the period. Kynam Capital Management LP acquired a new position in Ironwood Pharmaceuticals during the first quarter valued at approximately $14,154,000. Finally, Renaissance Technologies LLC raised its position in shares of Ironwood Pharmaceuticals by 20.7% in the second quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock valued at $55,889,000 after purchasing an additional 1,472,097 shares during the period.

Ironwood Pharmaceuticals Company Profile

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.