Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading 9.1% Higher – Time to Buy?

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) traded up 9.1% during trading on Monday . The company traded as high as $4.32 and last traded at $4.32. 96,469 shares were traded during trading, a decline of 97% from the average session volume of 2,999,028 shares. The stock had previously closed at $3.96.

Analysts Set New Price Targets

Several analysts have recently commented on IRWD shares. Craig Hallum reduced their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company reduced their price target on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Leerink Partners began coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a “market perform” rating and a $5.00 price objective for the company. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. Finally, Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $12.00 to $4.00 in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.17.

Ironwood Pharmaceuticals Stock Performance

The firm has a market cap of $665.25 million, a price-to-earnings ratio of -0.63 and a beta of 0.48. The firm has a 50-day moving average price of $4.40 and a two-hundred day moving average price of $5.77.

Insider Activity at Ironwood Pharmaceuticals

In other news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $4.27, for a total transaction of $42,315.70. Following the sale, the insider now owns 284,661 shares in the company, valued at approximately $1,215,502.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IRWD. Vanguard Group Inc. lifted its holdings in shares of Ironwood Pharmaceuticals by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 16,033,545 shares of the biotechnology company’s stock valued at $183,424,000 after buying an additional 1,137,845 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Ironwood Pharmaceuticals by 152.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 2,645 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Ironwood Pharmaceuticals by 63.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 79,361 shares of the biotechnology company’s stock valued at $691,000 after buying an additional 30,745 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Ironwood Pharmaceuticals in the 1st quarter worth approximately $487,000. Finally, Principal Financial Group Inc. increased its stake in Ironwood Pharmaceuticals by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 804,900 shares of the biotechnology company’s stock valued at $7,011,000 after purchasing an additional 3,120 shares in the last quarter.

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, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.