Why Has BTIG Research Given Ironwood Pharmaceuticals (NASDAQ:IRWD) a $15.00 Price Target
Analysts at BTIG Research have commenced coverage coverage on shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) in a note finalized on 11 December. The brokerage firm set Buy rating on the $1.61 billion market cap company.
From a total of 10 analysts covering Ironwood Pharmaceuticals (NASDAQ:IRWD) stock, 2 rate it a ”Buy”, 2 a “Sell”, and 6 a ”Hold”. This means that 20% of the ratings are positive. The highest target price is $17 while the lowest target price is $9. The mean of all analyst targets is $12.6 with a 19.71% above today’s ($10.86) stock price. Ironwood Pharmaceuticals was the topic of 5 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. BTIG Research initiated shares on December 11 with “Buy” rating.
The stock decreased 3.89% or $0.44 on December 11, striking $10.86. Approximately 1.05M shares of stock traded hands. Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has declined 22.81% since May 11, 2015 and is downtrending. It has underperformed by 18.40% the S&P500.
The overall sentiment of institutions has decreased to 0.91 in Q2 2015. Its down 0.34, from 1.25 in 2015Q2. The ratio dived, as 24 institutions have sold all the shares of Ironwood Pharmaceuticals, Inc. that they owned while 40 funds have taken shares off the table. 15 funds have purchased shares for the first time while 43 added to their positions. These institutions now hold 133.85 million shares or 6.06% less than the 142.49 million shares they owned in 2015Q2.
The Fund Bvf Inc Il currently is holding shares equating to 10.26% of its total portfolio in Ironwood Pharmaceuticals, Inc. representing a total of 4.87 million shares. Another fund,Sector Gamma As, is holding a total of 1.83 million shares equating to 5.15% of their holdings. Additionally, Bridger Management Llc has a 4.75 million share stake in Ironwood Pharmaceuticals, Inc. which represents 3.37% of their total portfolio. The Fund, Orbimed Advisors Llc, based out of New York, has also built up a stake in the stock, which represents a total of 1.18% of their total portfolio. Finally Lombard Odier Asset Management (Usa) Corp, a fund which is based in the state of New York reported a total holdings of 1.22 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 11, 2015, shareholders of Ironwood Pharmaceuticals, Inc. have witnessed 0 buys, and a total of 1 sale equating to a net activity of approximately $40,863 . Olanoff Lawrence S sold 3,725 shares worth approximately $40,863. Fanucci Marsha sold 31,339 shares worth approximately $491,396. Hecht Peter M sold 200,000 shares worth approximately $3.12 million. Cook Joseph C Jr sold 5,883 shares worth approximately $91,396. The company insider Roberts Bryan E sold 95,998 shares worth $1.46M.
Ironwood Pharmaceuticals, Inc. is a pharmaceutical company. The company has a market cap of $1.61 billion. The Firm has a product, linaclotide, which is available in the United States and Mexico under the brand name LINZESS, and is available in European countries and Canada under the brand name CONSTELLA. It currently has negative earnings. Linaclotide is also being developed and commercialized in other parts of the world by certain of its partners.
According to Zacks Investment Research, “Ironwood Pharmaceuticals is an entrepreneurial pharmaceutical company that discovers, develops, and intends to commercialize innovative human medicines. The Company’s first in class compound, Linaclotide, is being evaluated in a confirmatory Phase 3 program for the treatment of irritable bowel syndrome with constipation and chronic constipation. The Company also focuses on one Phase 1 pain drug candidate and multiple preclinical programs, as well as on building a specialty biochemicals business based on a proprietary strain-development platform. Ironwood also has a growing pipeline of additional drug candidates in earlier stages of development. Ironwood is headquartered in Cambridge, Massachusetts.” Get a free copy of the Zacks research report on Ironwood Pharmaceuticals, Inc. (IRWD).