Ironwood Pharmaceuticals (NASDAQ:IRWD) Given New $8.00 Price Target at Craig Hallum

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its target price cut by investment analysts at Craig Hallum from $10.00 to $8.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Craig Hallum’s target price indicates a potential upside of 111.08% from the company’s current price.

Separately, StockNews.com lowered shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Ironwood Pharmaceuticals Stock Up 3.6 %

IRWD opened at $3.79 on Wednesday. The firm’s 50-day moving average price is $3.94 and its 200-day moving average price is $4.62. The company has a market cap of $606.51 million, a P/E ratio of -126.33 and a beta of 0.34. Ironwood Pharmaceuticals has a 52-week low of $3.06 and a 52-week high of $15.70.

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

Insider Activity at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $4.08, for a total transaction of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares of the company’s stock, valued at $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV increased its holdings 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 buying an additional 3,198 shares during the last quarter. Wolverine Trading LLC acquired a new stake in Ironwood Pharmaceuticals during the third quarter worth $51,000. Diversified Trust Co purchased a new stake in Ironwood Pharmaceuticals in the third quarter valued at $52,000. SG Americas Securities LLC acquired a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at $53,000. Finally, Legacy Capital Group California Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter worth $59,000.

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.