Ironwood Pharmaceuticals (NASDAQ:IRWD) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 20,725,777 shares, an increase of 7.6% from the February 15th total of 19,260,215 shares. Based on an average daily trading volume, of 1,336,290 shares, the days-to-cover ratio is currently 15.5 days. Approximately 16.4% of the shares of the stock are short sold.
In other news, insider Mark G. Currie sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $15.45, for a total transaction of $927,000.00. Following the completion of the transaction, the insider now directly owns 835,000 shares of the company’s stock, valued at approximately $12,900,750. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Gina Consylman sold 3,594 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $14.66, for a total value of $52,688.04. Following the transaction, the chief financial officer now directly owns 59,125 shares of the company’s stock, valued at $866,772.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,728 shares of company stock valued at $1,024,732. Corporate insiders own 7.63% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. grew its holdings in Ironwood Pharmaceuticals by 11.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,000 shares of the biotechnology company’s stock valued at $536,000 after buying an additional 3,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ironwood Pharmaceuticals by 128.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,010 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 5,069 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Ironwood Pharmaceuticals by 4.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 120,888 shares of the biotechnology company’s stock valued at $1,906,000 after buying an additional 5,513 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 30.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,405 shares of the biotechnology company’s stock worth $369,000 after purchasing an additional 5,527 shares during the period. Finally, American International Group Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 8.1% during the 3rd quarter. American International Group Inc. now owns 90,291 shares of the biotechnology company’s stock worth $1,424,000 after purchasing an additional 6,751 shares during the period.
NASDAQ:IRWD traded down $1.31 during trading hours on Monday, hitting $14.12. The company had a trading volume of 2,053,549 shares, compared to its average volume of 1,534,177. The company has a quick ratio of 4.71, a current ratio of 4.72 and a debt-to-equity ratio of 40.25. The stock has a market cap of $2,328.32, a P/E ratio of -15.19 and a beta of 1.06. Ironwood Pharmaceuticals has a 1 year low of $12.89 and a 1 year high of $19.94.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, February 15th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The company had revenue of $94.20 million during the quarter, compared to analysts’ expectations of $88.86 million. Ironwood Pharmaceuticals had a negative return on equity of 2,073.20% and a negative net margin of 39.20%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) EPS. equities analysts anticipate that Ironwood Pharmaceuticals will post -0.46 earnings per share for the current year.
Several research analysts recently commented on the company. BidaskClub raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 27th. Zacks Investment Research downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Mizuho downgraded Ironwood Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $16.00 in a research note on Wednesday, December 6th. Morgan Stanley reissued a “hold” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, December 4th. Finally, Bank of America downgraded Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $20.00 to $15.00 in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Ironwood Pharmaceuticals has an average rating of “Hold” and an average target price of $17.29.
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Ironwood Pharmaceuticals Company Profile
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.
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