Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Down 8.7% – Here’s What Happened

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price fell 8.7% on Friday . The stock traded as low as $4.14 and last traded at $4.18. 531,912 shares changed hands during trading, a decline of 76% from the average session volume of 2,207,972 shares. The stock had previously closed at $4.58.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Ironwood Pharmaceuticals Trading Down 13.5 %

The firm has a market cap of $633.71 million, a P/E ratio of -132.00 and a beta of 0.34. The company’s fifty day moving average price is $4.06 and its two-hundred day moving average price is $4.74.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS 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 analyst estimates of $91.22 million. During the same period in the previous year, the firm earned $0.12 earnings per share. The firm’s revenue was down 19.4% compared to the same quarter last year. On average, analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the 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 transaction, the chief financial officer now directly owns 309,572 shares in the company, valued at approximately $1,263,053.76. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV raised its position in shares of Ironwood Pharmaceuticals by 59.3% during the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 3,198 shares during the last quarter. Wolverine Trading LLC bought a new position in shares of Ironwood Pharmaceuticals during the third quarter worth $51,000. Diversified Trust Co acquired a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at $52,000. Legacy Capital Group California Inc. bought a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at $59,000. Finally, Virtu Financial LLC bought a new position in Ironwood Pharmaceuticals during the third quarter worth about $78,000.

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.