Ironwood Pharmaceuticals, Inc. (IRWD) Receives $17.35 Consensus Target Price from Analysts
Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) have received an average recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $17.35.
A number of equities research analysts have recently issued reports on the stock. BTIG Research set a $19.00 target price on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, February 14th. ValuEngine raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. BidaskClub lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, February 25th. GMP Securities raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their price objective for the company from $11.50 to $14.00 in a report on Monday, February 25th. Finally, Wood & Company started coverage on shares of Ironwood Pharmaceuticals in a report on Tuesday, February 26th. They issued a “buy” rating for the company.
Shares of Ironwood Pharmaceuticals stock traded down $0.08 during trading hours on Wednesday, reaching $11.40. 1,057,209 shares of the company’s stock were exchanged, compared to its average volume of 1,491,030. Ironwood Pharmaceuticals has a 1 year low of $9.07 and a 1 year high of $21.20. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -12.00 and a beta of 1.91.
In other Ironwood Pharmaceuticals news, CEO Peter M. Hecht sold 30,000 shares of the stock in a transaction dated Wednesday, January 23rd. The shares were sold at an average price of $12.66, for a total transaction of $379,800.00. Following the completion of the transaction, the chief executive officer now owns 4,726,917 shares of the company’s stock, valued at $59,842,769.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter M. Hecht sold 89,551 shares of the stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $12.53, for a total transaction of $1,122,074.03. Following the sale, the chief executive officer now directly owns 4,726,917 shares in the company, valued at approximately $59,228,270.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 403,872 shares of company stock valued at $5,281,958. 7.63% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC acquired a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $31,000. First Manhattan Co. acquired a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $133,000. Gotham Asset Management LLC acquired a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $135,000. Bank of Montreal Can lifted its position in shares of Ironwood Pharmaceuticals by 426.9% during the fourth quarter. Bank of Montreal Can now owns 16,846 shares of the biotechnology company’s stock worth $175,000 after purchasing an additional 13,649 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Ironwood Pharmaceuticals during the third quarter worth about $177,000. 97.00% of the stock is currently owned by institutional investors and hedge funds.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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