Ironwood Pharmaceuticals (NASDAQ:IRWD) Lowered to Strong Sell at BidaskClub
Several other analysts have also recently commented on the stock. HC Wainwright set a $13.00 price objective on shares of Ironwood Pharmaceuticals and gave the company a hold rating in a research note on Monday, June 24th. Wedbush raised their price objective on shares of Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Morgan Stanley set a $13.00 price objective on shares of Ironwood Pharmaceuticals and gave the company a hold rating in a research note on Friday, May 3rd. Mizuho set a $20.00 price objective on shares of Ironwood Pharmaceuticals and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, ValuEngine upgraded shares of Ironwood Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $15.15.
Shares of NASDAQ IRWD opened at $8.72 on Wednesday. Ironwood Pharmaceuticals has a 52 week low of $8.69 and a 52 week high of $19.64. The firm has a 50-day moving average price of $10.03 and a 200 day moving average price of $11.68.
In other Ironwood Pharmaceuticals news, insider Halley E. Gilbert sold 20,000 shares of Ironwood Pharmaceuticals stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $10.00, for a total transaction of $200,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 21,712 shares of company stock valued at $218,806. 5.90% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. acquired a new position in Ironwood Pharmaceuticals during the first quarter worth about $799,000. Norges Bank acquired a new position in Ironwood Pharmaceuticals during the fourth quarter worth about $19,568,000. Peregrine Capital Management LLC acquired a new position in Ironwood Pharmaceuticals during the second quarter worth about $13,487,000. Perennial Advisors LLC acquired a new position in Ironwood Pharmaceuticals during the first quarter worth about $243,000. Finally, Geode Capital Management LLC grew its holdings in shares of Ironwood Pharmaceuticals by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,754 shares of the biotechnology company’s stock worth $17,184,000 after buying an additional 94,453 shares in the last quarter.
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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