Insider Selling: Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) CFO Sells 11,001 Shares of Stock

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ IRWD opened at $3.34 on Friday. The company has a market cap of $534.49 million, a PE ratio of -111.33 and a beta of 0.47. The business has a 50-day simple moving average of $4.23 and a two-hundred day simple moving average of $5.36. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $3.31 and a fifty-two week high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The company had revenue of $91.60 million during the quarter, compared to analyst estimates of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The company’s revenue was down 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. On average, sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Ironwood Pharmaceuticals

Several large investors have recently made changes to their positions in IRWD. Vanguard Group Inc. boosted 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 worth $170,031,000 after buying an additional 3,487,821 shares during the last quarter. Armistice Capital LLC lifted its stake in shares of Ironwood Pharmaceuticals by 44.4% in the 2nd quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock valued at $50,856,000 after purchasing an additional 2,400,000 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Ironwood Pharmaceuticals by 26.6% during the 3rd quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock worth $46,473,000 after acquiring an additional 2,372,183 shares in the last quarter. Kynam Capital Management LP acquired a new position in Ironwood Pharmaceuticals during the 1st quarter worth about $14,154,000. Finally, Renaissance Technologies LLC lifted its stake in Ironwood Pharmaceuticals by 20.7% during the 2nd quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock worth $55,889,000 after acquiring an additional 1,472,097 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently issued reports on IRWD shares. Wells Fargo & Company lowered their price target on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Capital One Financial downgraded Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Craig Hallum reduced their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Finally, Leerink Partners started coverage on Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.40.

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.