Ironwood Pharmaceuticals (NASDAQ:IRWD) Hits New 12-Month Low After Analyst Downgrade

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price hit a new 52-week low during mid-day trading on Friday after JMP Securities lowered their price target on the stock from $23.00 to $14.00. JMP Securities currently has a market outperform rating on the stock. Ironwood Pharmaceuticals traded as low as $2.25 and last traded at $2.30, with a volume of 10525325 shares trading hands. The stock had previously closed at $3.72.

A number of other research firms also recently issued reports on IRWD. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Craig Hallum cut their price target on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.67.

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now directly owns 309,572 shares in the company, valued at approximately $1,263,053.76. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.90% of the stock is owned by company insiders.

Institutional Trading of Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of IRWD. KBC Group NV boosted its stake in shares of Ironwood Pharmaceuticals by 59.3% during the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 3,198 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Ironwood Pharmaceuticals by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,932 shares of the biotechnology company’s stock valued at $150,000 after purchasing an additional 3,209 shares during the last quarter. Creative Planning boosted its position in Ironwood Pharmaceuticals by 12.7% during the third quarter. Creative Planning now owns 42,151 shares of the biotechnology company’s stock worth $174,000 after purchasing an additional 4,749 shares during the period. Quantinno Capital Management LP boosted its position in Ironwood Pharmaceuticals by 40.0% during the third quarter. Quantinno Capital Management LP now owns 19,191 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 5,482 shares during the period. Finally, Everence Capital Management Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 36.3% in the third quarter. Everence Capital Management Inc. now owns 27,850 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 7,420 shares during the last quarter.

Ironwood Pharmaceuticals Trading Down 38.2 %

The company has a market cap of $368.07 million, a price-to-earnings ratio of -76.67 and a beta of 0.34. The business’s 50 day moving average price is $3.90 and its 200-day moving average price is $4.50.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The company had revenue of $91.60 million for the quarter, compared to analyst estimates of $91.22 million. During the same quarter last year, the business earned $0.12 earnings per share. The company’s revenue was down 19.4% on a year-over-year basis. Equities research analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal year.

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.