Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Rating Upgraded by Zacks Research

Ironwood Pharmaceuticals (NASDAQ:IRWD) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, April 27th. Wall Street Zen upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Sunday, May 17th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $6.23.

Ironwood Pharmaceuticals Stock Performance

NASDAQ:IRWD opened at $4.33 on Wednesday. The firm has a 50-day simple moving average of $3.83 and a 200-day simple moving average of $3.91. Ironwood Pharmaceuticals has a one year low of $0.67 and a one year high of $5.78. The firm has a market cap of $706.05 million, a P/E ratio of 7.22 and a beta of 0.20.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $106.51 million for the quarter, compared to analysts’ expectations of $92.11 million. Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. On average, research analysts predict that Ironwood Pharmaceuticals will post 1.04 EPS for the current fiscal year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In related news, Director Julie Mchugh sold 21,571 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.73, for a total value of $80,459.83. Following the transaction, the director directly owned 250,749 shares of the company’s stock, valued at $935,293.77. This represents a 7.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.30% of the stock is owned by company insiders.

Institutional Trading of Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRWD. AQR Capital Management LLC increased its holdings in shares of Ironwood Pharmaceuticals by 535.8% in the first quarter. AQR Capital Management LLC now owns 2,523,875 shares of the biotechnology company’s stock valued at $3,710,000 after purchasing an additional 2,126,889 shares during the period. Millennium Management LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 186.6% during the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock worth $9,349,000 after purchasing an additional 4,140,439 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ironwood Pharmaceuticals during the first quarter worth about $57,000. Goldman Sachs Group Inc. boosted its position in Ironwood Pharmaceuticals by 72.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,575,416 shares of the biotechnology company’s stock valued at $2,316,000 after buying an additional 660,144 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Ironwood Pharmaceuticals by 740.5% in the first quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock valued at $5,160,000 after buying an additional 3,092,475 shares during the last quarter.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.