Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Free Report) had its target price dropped by stock analysts at Wells Fargo & Company from $20.00 to $14.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 54.53% from the company’s previous close.
A number of other brokerages have also recently weighed in on IRWD. Craig Hallum started coverage on shares of Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They set a “buy” rating and a $21.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Ironwood Pharmaceuticals in a report on Thursday, November 9th. They set a “buy” rating and a $21.00 price objective on the stock. StockNews.com lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Piper Sandler raised their price objective on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.
View Our Latest Research Report on Ironwood Pharmaceuticals
Ironwood Pharmaceuticals Price Performance
Shares of NASDAQ IRWD traded down $0.37 during midday trading on Friday, reaching $9.06. 7,469,191 shares of the stock were exchanged, compared to its average volume of 4,171,347. The business has a 50-day simple moving average of $13.39 and a two-hundred day simple moving average of $10.88. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -1.40 and a beta of 0.65. Ironwood Pharmaceuticals has a 12 month low of $8.07 and a 12 month high of $15.70.
Insider Buying and Selling at Ironwood Pharmaceuticals
In other news, SVP Andrew Davis sold 9,846 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $150,053.04. Following the completion of the transaction, the senior vice president now owns 208,324 shares of the company’s stock, valued at approximately $3,174,857.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CMO Michael Shetzline sold 38,618 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $588,538.32. Following the completion of the transaction, the chief marketing officer now owns 340,484 shares of the company’s stock, valued at approximately $5,188,976.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew Davis sold 9,846 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $15.24, for a total transaction of $150,053.04. Following the completion of the transaction, the senior vice president now directly owns 208,324 shares of the company’s stock, valued at approximately $3,174,857.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,008 shares of company stock worth $4,160,642. Insiders own 13.10% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of IRWD. Illinois Municipal Retirement Fund bought a new stake in shares of Ironwood Pharmaceuticals during the 3rd quarter worth about $743,000. Quantbot Technologies LP boosted its holdings in shares of Ironwood Pharmaceuticals by 95.8% during the 3rd quarter. Quantbot Technologies LP now owns 69,500 shares of the biotechnology company’s stock worth $669,000 after buying an additional 34,000 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 11.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 214,661 shares of the biotechnology company’s stock worth $2,284,000 after buying an additional 22,105 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of Ironwood Pharmaceuticals by 566.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,210,985 shares of the biotechnology company’s stock worth $21,292,000 after buying an additional 1,879,401 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Ironwood Pharmaceuticals by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 4,406,732 shares of the biotechnology company’s stock worth $42,437,000 after buying an additional 668,694 shares during the period.
Ironwood Pharmaceuticals Company Profile
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, and China, as well as under the CONSTELLA name in the Canada and European countries.
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