Other analysts have also issued research reports about the company. Morgan Stanley set a $13.00 target price on Ironwood Pharmaceuticals and gave the company a “hold” rating in a research report on Friday, May 3rd. Credit Suisse Group reissued a “neutral” rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, July 10th. Zacks Investment Research raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, April 16th. Wedbush boosted their target price on Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Mizuho set a $20.00 price objective on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $15.15.
NASDAQ IRWD traded down $0.03 on Thursday, reaching $10.28. The stock had a trading volume of 1,078,678 shares, compared to its average volume of 1,314,344. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -10.82 and a beta of 1.68. Ironwood Pharmaceuticals has a 12-month low of $9.07 and a 12-month high of $19.77. The company’s fifty day moving average price is $10.64.
In related news, insider Halley E. Gilbert sold 20,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $10.00, for a total value of $200,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gina Consylman sold 4,055 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $10.53, for a total value of $42,699.15. The disclosure for this sale can be found here. Insiders have sold 25,555 shares of company stock worth $259,589 in the last ninety days. Corporate insiders own 5.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. purchased a new position in Ironwood Pharmaceuticals in the first quarter valued at $63,000. Diamond Hill Capital Management Inc. purchased a new position in Ironwood Pharmaceuticals in the second quarter valued at $115,000. Gotham Asset Management LLC purchased a new position in Ironwood Pharmaceuticals in the fourth quarter valued at $135,000. NumerixS Investment Technologies Inc acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at $190,000. Finally, Financial Counselors Inc. acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at $204,000. 99.68% of the stock is currently owned by hedge funds and other institutional investors.
About Ironwood Pharmaceuticals
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; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.
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