Ironwood Pharmaceuticals (NASDAQ:IRWD) Cut to “Market Perform” at Citizens Jmp

Citizens Jmp cut shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) from an outperform rating to a market perform rating in a research report released on Monday morning, Marketbeat reports.

Other research analysts have also recently issued research reports about the stock. JMP Securities reduced their target price on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a report on Thursday, January 30th. Craig Hallum reduced their price objective on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Finally, StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Ironwood Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $4.78.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD opened at $0.75 on Monday. The stock has a 50-day moving average of $1.48 and a two-hundred day moving average of $3.07. The stock has a market cap of $121.36 million, a P/E ratio of -25.00 and a beta of 0.30. Ironwood Pharmaceuticals has a one year low of $0.59 and a one year high of $8.45.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm had revenue of $90.55 million for the quarter, compared to analyst estimates of $93.85 million. Analysts predict that Ironwood Pharmaceuticals will post 0.1 EPS for the current fiscal year.

Insider Activity

In other news, CEO Thomas A. Mccourt sold 139,064 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $244,752.64. Following the transaction, the chief executive officer now owns 1,160,634 shares in the company, valued at $2,042,715.84. This trade represents a 10.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $72,633.44. Following the completion of the sale, the chief marketing officer now directly owns 554,007 shares in the company, valued at $975,052.32. This represents a 6.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 192,381 shares of company stock worth $338,591 in the last ninety days. Company insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRWD. Pacer Advisors Inc. increased its stake in shares of Ironwood Pharmaceuticals by 4.0% during the fourth quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock worth $51,967,000 after purchasing an additional 450,949 shares in the last quarter. State Street Corp increased its stake in Ironwood Pharmaceuticals by 7.3% during the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after buying an additional 677,024 shares in the last quarter. FMR LLC raised its holdings in shares of Ironwood Pharmaceuticals by 25.1% during the third quarter. FMR LLC now owns 169,681 shares of the biotechnology company’s stock valued at $699,000 after acquiring an additional 34,089 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Ironwood Pharmaceuticals by 102.7% in the third quarter. Jane Street Group LLC now owns 323,638 shares of the biotechnology company’s stock valued at $1,333,000 after acquiring an additional 164,006 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,983,240 shares of the biotechnology company’s stock worth $8,786,000 after acquiring an additional 78,969 shares during the last quarter.

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.