Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.
Other analysts also recently issued reports about the stock. Piper Sandler raised their price objective on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Wells Fargo & Company lowered their price objective on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Finally, Craig Hallum started coverage on Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They set a “buy” rating and a $21.00 target price for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.80.
Ironwood Pharmaceuticals Trading Up 3.5 %
Ironwood Pharmaceuticals stock traded up $0.30 during midday trading on Thursday, hitting $8.94. The stock had a trading volume of 2,615,630 shares, compared to its average volume of 4,818,915. Ironwood Pharmaceuticals has a 52-week low of $8.07 and a 52-week high of $15.70. The company has a market capitalization of $1.40 billion, a PE ratio of -1.33 and a beta of 0.56. The firm’s fifty day moving average is $12.92 and its two-hundred day moving average is $10.85.
Insider Buying and Selling at Ironwood Pharmaceuticals
In other news, CEO Thomas A. Mccourt sold 177,164 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 transaction of $2,699,979.36. Following the completion of the sale, the chief executive officer now directly owns 832,774 shares of the company’s stock, valued at $12,691,475.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas A. Mccourt sold 177,164 shares of the firm’s 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 transaction, the chief executive officer now owns 832,774 shares in the company, valued at $12,691,475.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jon R. Duane acquired 6,920 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $8.70 per share, for a total transaction of $60,204.00. Following the completion of the acquisition, the director now owns 121,028 shares of the company’s stock, valued at $1,052,943.60. The disclosure for this purchase can be found here. Insiders have sold 273,008 shares of company stock valued at $4,160,642 in the last quarter. 13.10% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in IRWD. Raymond James & Associates boosted its stake in Ironwood Pharmaceuticals by 11.1% in the 1st quarter. Raymond James & Associates now owns 24,117 shares of the biotechnology company’s stock worth $303,000 after purchasing an additional 2,418 shares in the last quarter. Cetera Advisor Networks LLC increased its position in shares of Ironwood Pharmaceuticals by 8.8% in the 1st 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. PNC Financial Services Group Inc. lifted its position in Ironwood Pharmaceuticals by 6.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 41,253 shares of the biotechnology company’s stock worth $518,000 after acquiring an additional 2,402 shares during the period. MetLife Investment Management LLC grew its stake in Ironwood Pharmaceuticals by 55.5% during the 1st quarter. MetLife Investment Management LLC now owns 79,249 shares of the biotechnology company’s stock valued at $997,000 after purchasing an additional 28,288 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Ironwood Pharmaceuticals by 4.0% in the first quarter. Rhumbline Advisers now owns 164,608 shares of the biotechnology company’s stock valued at $2,071,000 after purchasing an additional 6,277 shares during the period.
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.