Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Stock Has Average Price Target of $6.23 According to Brokerages

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $6.23.

A number of analysts have recently commented on the company. Zacks Research cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. Jefferies Financial Group raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Friday, September 25th. Weiss Ratings raised shares of Ironwood Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th.

Ironwood Pharmaceuticals Trading Up 4.7%

NASDAQ IRWD opened at $3.77 on Tuesday. Ironwood Pharmaceuticals has a 12 month low of $1.43 and a 12 month high of $5.78. The stock has a 50-day simple moving average of $4.11 and a 200 day simple moving average of $3.97. The company has a market capitalization of $622.95 million, a PE ratio of 4.62 and a beta of 0.21.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, August 6th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $113.04 million for the quarter, compared to the consensus estimate of $114.84 million. Ironwood Pharmaceuticals had a negative return on equity of 58.38% and a net margin of 33.36%. As a group, sell-side analysts predict that Ironwood Pharmaceuticals will post 1.10 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Krilogy Financial LLC grew its holdings in shares of Ironwood Pharmaceuticals by 9.8% in the 1st quarter. Krilogy Financial LLC now owns 33,194 shares of the biotechnology company’s stock valued at $117,000 after buying an additional 2,971 shares during the period. DGS Capital Management LLC increased its position in shares of Ironwood Pharmaceuticals by 42.8% in the 1st quarter. DGS Capital Management LLC now owns 14,883 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 4,458 shares in the last quarter. Hsbc Holdings PLC raised its stake in Ironwood Pharmaceuticals by 26.8% during the 1st quarter. Hsbc Holdings PLC now owns 29,706 shares of the biotechnology company’s stock worth $104,000 after buying an additional 6,270 shares during the period. EverSource Wealth Advisors LLC raised its stake in Ironwood Pharmaceuticals by 48.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 20,336 shares of the biotechnology company’s stock worth $71,000 after buying an additional 6,656 shares during the period. Finally, Range Financial Group LLC raised its stake in Ironwood Pharmaceuticals by 1.7% during the 1st quarter. Range Financial Group LLC now owns 433,256 shares of the biotechnology company’s stock worth $1,521,000 after buying an additional 7,161 shares during the period.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a gastrointestinal-focused biopharmaceutical company that discovers, develops, and commercializes medicines for gastrointestinal diseases. The company concentrates on conditions affecting the digestive system, including disorders with substantial unmet medical needs.

Ironwood’s principal commercial product is LINZESS (linaclotide), a prescription treatment for adults with irritable bowel syndrome with constipation and chronic idiopathic constipation. In the United States, LINZESS is marketed through a collaboration with AbbVie, while it is marketed in many international markets under the name CONSTELLA through a collaboration with the healthcare business of AstraZeneca and other regional partners.

Founded in 1998 and headquartered in Boston, Massachusetts, Ironwood has expanded its development activities through internal research, partnerships, and acquisitions.