Zacks Investment Research lowered shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “Performance of Ironwood's Linzess has been encouraging on the back of strong demand trends and expansion in new patient population and geographic regions. The company remains focused on further label expansions of the drug. Meanwhile, the company plans to split itself which is anticipated to increase operational performance and strategic flexibility. The company has terminated its license agreement with AstraZeneca related to Zurampic and Duzallo, which is expected to reduce operating expenses. Shares have underperformed the industry in the past six months. However, competition in CIC and IBS-C, Linzess’ target markets is intensifying. Any Linzess-related pipeline/regulatory setbacks will weigh heavily on the stock, as the rest of its pipeline is mostly mid-stage in nature.”

IRWD has been the subject of several other research reports. BidaskClub cut Ironwood Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, September 12th. HC Wainwright set a $13.00 price objective on Ironwood Pharmaceuticals and gave the stock a sell rating in a report on Monday, September 17th. ValuEngine lowered Ironwood Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 31st. Wells Fargo & Co set a $19.00 target price on Ironwood Pharmaceuticals and gave the company a buy rating in a report on Wednesday, October 31st. Finally, BTIG Research set a $17.00 target price on Ironwood Pharmaceuticals and gave the company a buy rating in a report on Wednesday, November 7th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $16.50.

Shares of IRWD stock traded up $0.19 during mid-day trading on Tuesday, hitting $12.75. 28,583 shares of the stock traded hands, compared to its average volume of 1,228,043. Ironwood Pharmaceuticals has a twelve month low of $9.07 and a twelve month high of $21.20. The stock has a market cap of $1.90 billion, a PE ratio of -13.70 and a beta of 1.50.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.24). The firm had revenue of $68.69 million during the quarter, compared to analyst estimates of $93.48 million. The firm’s quarterly revenue was down 20.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) earnings per share. As a group, sell-side analysts predict that Ironwood Pharmaceuticals will post -1.01 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in shares of Ironwood Pharmaceuticals in the third quarter valued at approximately $177,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Ironwood Pharmaceuticals during the 3rd quarter valued at $249,000. Meeder Asset Management Inc. raised its position in shares of Ironwood Pharmaceuticals by 42.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 13,839 shares of the biotechnology company’s stock valued at $256,000 after acquiring an additional 4,136 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Ironwood Pharmaceuticals by 17,621.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,013 shares of the biotechnology company’s stock valued at $325,000 after acquiring an additional 16,917 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Ironwood Pharmaceuticals in the 2nd quarter valued at $952,000. Institutional investors and hedge funds own 93.32% of the company’s stock.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.

Further Reading: Moving Average – How it Helps Investors in Stock Selection

Get a free copy of the Zacks research report on Ironwood Pharmaceuticals (IRWD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ironwood Pharmaceuticals (NASDAQ:IRWD)

Receive News & Ratings for Ironwood Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.