Capital One Financial Downgrades Ironwood Pharmaceuticals (NASDAQ:IRWD) to Equal Weight

Ironwood Pharmaceuticals (NASDAQ:IRWD) was downgraded by analysts at Capital One Financial from an “overweight” rating to an “equal weight” rating in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a $4.00 target price on the biotechnology company’s stock, down from their previous target price of $12.00. Capital One Financial‘s price objective points to a potential downside of 5.66% from the stock’s current price.

IRWD has been the subject of a number of other reports. StockNews.com raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Craig Hallum cut their price target on Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, May 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Ironwood Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Ironwood Pharmaceuticals Stock Up 4.7 %

Shares of Ironwood Pharmaceuticals stock traded up $0.19 during trading on Thursday, reaching $4.24. The company’s stock had a trading volume of 6,885,179 shares, compared to its average volume of 3,483,929. The business has a 50 day moving average price of $6.32 and a 200-day moving average price of $8.61. The company has a market capitalization of $663.68 million, a P/E ratio of -0.62 and a beta of 0.52. Ironwood Pharmaceuticals has a 12-month low of $3.79 and a 12-month high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.20). The firm had revenue of $74.90 million for the quarter, compared to analyst estimates of $105.75 million. Ironwood Pharmaceuticals had a negative return on equity of 28.45% and a negative net margin of 254.41%. The business’s revenue for the quarter was down 28.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. Research analysts predict that Ironwood Pharmaceuticals will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Catherine Moukheibir sold 44,426 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $6.36, for a total value of $282,549.36. Following the sale, the director now owns 84,207 shares of the company’s stock, valued at approximately $535,556.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Catherine Moukheibir sold 44,426 shares of Ironwood Pharmaceuticals stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $6.36, for a total transaction of $282,549.36. Following the transaction, the director now directly owns 84,207 shares in the company, valued at approximately $535,556.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Julie Mchugh sold 22,766 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, June 10th. The shares were sold at an average price of $6.29, for a total value of $143,198.14. Following the transaction, the director now owns 139,528 shares in the company, valued at $877,631.12. The disclosure for this sale can be found here. 12.90% of the stock is currently owned by company insiders.

Institutional Trading of Ironwood Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Ironwood Pharmaceuticals by 21.8% during the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock valued at $170,031,000 after acquiring an additional 3,487,821 shares during the period. Renaissance Technologies LLC boosted its holdings in Ironwood Pharmaceuticals by 20.7% during the second quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock valued at $55,889,000 after purchasing an additional 1,472,097 shares in the last quarter. Armistice Capital LLC boosted its holdings in Ironwood Pharmaceuticals by 64.9% during the fourth quarter. Armistice Capital LLC now owns 5,700,000 shares of the biotechnology company’s stock valued at $65,208,000 after purchasing an additional 2,244,000 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Ironwood Pharmaceuticals by 40.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,235,580 shares of the biotechnology company’s stock valued at $36,892,000 after purchasing an additional 1,226,377 shares in the last quarter. Finally, Kynam Capital Management LP acquired a new stake in Ironwood Pharmaceuticals during the first quarter valued at approximately $14,154,000.

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.