Ironwood Pharmaceuticals (NASDAQ:IRWD) Earns Market Perform Rating from Analysts at Leerink Partners

Analysts at Leerink Partners started coverage on shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage set a “market perform” rating and a $5.00 price target on the biotechnology company’s stock. Leerink Partners’ target price points to a potential upside of 10.86% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $12.00 to $4.00 in a research report on Thursday, August 8th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Craig Hallum decreased their target price on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Wells Fargo & Company decreased their target price on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.57.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD stock opened at $4.51 on Monday. Ironwood Pharmaceuticals has a 1 year low of $3.79 and a 1 year high of $15.70. The firm has a fifty day moving average price of $5.74 and a 200-day moving average price of $7.15. The company has a market cap of $720.43 million, a price-to-earnings ratio of -0.66 and a beta of 0.49.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $4.27, for a total value of $42,315.70. Following the sale, the insider now directly owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 12.90% of the company’s stock.

Institutional Trading of Ironwood Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock valued at $170,031,000 after purchasing an additional 3,487,821 shares in the last quarter. Armistice Capital LLC grew its holdings in shares of Ironwood Pharmaceuticals by 44.4% during the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock worth $50,856,000 after buying an additional 2,400,000 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Ironwood Pharmaceuticals by 23.6% in the second quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company’s stock worth $58,078,000 after acquiring an additional 1,701,452 shares during the last quarter. Kynam Capital Management LP acquired a new stake in shares of Ironwood Pharmaceuticals in the first quarter worth approximately $14,154,000. Finally, Renaissance Technologies LLC boosted its position in shares of Ironwood Pharmaceuticals by 20.7% in the second quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock worth $55,889,000 after acquiring an additional 1,472,097 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.