Ironwood Pharmaceuticals (NASDAQ:IRWD) Given New $8.00 Price Target at Craig Hallum

Ironwood Pharmaceuticals (NASDAQ:IRWD) had its price objective decreased by Craig Hallum from $10.00 to $8.00 in a research report report published on Wednesday morning,Benzinga reports. Craig Hallum currently has a buy rating on the biotechnology company’s stock.

Separately, StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Ironwood Pharmaceuticals Price Performance

IRWD stock opened at $3.72 on Wednesday. Ironwood Pharmaceuticals has a 12 month low of $3.06 and a 12 month high of $15.70. The company has a market cap of $595.31 million, a price-to-earnings ratio of -124.00 and a beta of 0.34. The company has a fifty day moving average price of $3.93 and a 200 day moving average price of $4.60.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business had revenue of $91.60 million for the quarter, compared to analyst estimates of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. Ironwood Pharmaceuticals’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the company posted $0.12 EPS. As a group, analysts anticipate that Ironwood Pharmaceuticals will post 0.08 earnings per share for the current year.

Insider Activity

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV boosted its holdings in Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after buying an additional 3,198 shares in the last quarter. Creative Planning lifted its position in shares of Ironwood Pharmaceuticals by 12.7% during the 3rd quarter. Creative Planning now owns 42,151 shares of the biotechnology company’s stock valued at $174,000 after acquiring an additional 4,749 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Ironwood Pharmaceuticals by 40.0% during the 3rd quarter. Quantinno Capital Management LP now owns 19,191 shares of the biotechnology company’s stock worth $79,000 after acquiring an additional 5,482 shares in the last quarter. Everence Capital Management Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 36.3% in the 3rd quarter. Everence Capital Management Inc. now owns 27,850 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 7,420 shares during the period. Finally, Dark Forest Capital Management LP increased its stake in Ironwood Pharmaceuticals by 16.5% in the 2nd quarter. Dark Forest Capital Management LP now owns 60,386 shares of the biotechnology company’s stock valued at $394,000 after purchasing an additional 8,557 shares in 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.