Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading 3.9% Higher – What’s Next?

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) were up 3.9% during trading on Tuesday . The stock traded as high as $3.48 and last traded at $3.48. Approximately 707,252 shares changed hands during trading, a decline of 75% from the average daily volume of 2,876,646 shares. The stock had previously closed at $3.35.

Analyst Upgrades and Downgrades

Several analysts recently commented on IRWD shares. Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $12.00 to $4.00 in a research report on Thursday, August 8th. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Leerink Partners initiated 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 on the stock. Craig Hallum lowered their target price on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Ironwood Pharmaceuticals Trading Up 4.3 %

The firm has a market cap of $587.31 million, a P/E ratio of -122.33 and a beta of 0.47. The company’s 50 day simple moving average is $4.15 and its 200-day simple moving average is $5.23.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. During the same quarter last year, the company earned $0.12 EPS. Ironwood Pharmaceuticals’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, sell-side analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.

Insider Transactions at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the transaction, the chief financial officer now owns 309,572 shares in the company, valued at $1,263,053.76. This represents a 3.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. raised its stake in Ironwood Pharmaceuticals by 1,293.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 380,960 shares of the biotechnology company’s stock worth $1,570,000 after acquiring an additional 353,624 shares during the period. Pacer Advisors Inc. raised 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 during the period. Hodges Capital Management Inc. raised its stake in Ironwood Pharmaceuticals by 20.6% during the 2nd quarter. Hodges Capital Management Inc. now owns 1,041,000 shares of the biotechnology company’s stock worth $6,787,000 after acquiring an additional 177,500 shares during the period. KBC Group NV raised its stake in Ironwood Pharmaceuticals by 59.3% during the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 3,198 shares during the period. Finally, Renaissance Technologies LLC raised 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 during the period.

About Ironwood Pharmaceuticals

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.