Ironwood Pharmaceuticals (IRWD) Stock Price Down 7.8%

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) traded down 7.8% during mid-day trading on Tuesday . The company traded as low as $12.68 and last traded at $12.72. 2,106,747 shares changed hands during mid-day trading, an increase of 57% from the average session volume of 1,341,836 shares. The stock had previously closed at $13.80.

A number of analysts recently issued reports on the company. BidaskClub downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Wells Fargo & Co set a $23.00 target price on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 8th. BTIG Research set a $17.00 price target on Ironwood Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, November 7th. Mizuho cut their price target on Ironwood Pharmaceuticals to $15.00 and set a “buy” rating on the stock in a research note on Monday, November 19th. Finally, HC Wainwright set a $13.00 price target on Ironwood Pharmaceuticals and gave the company a “sell” rating in a research note on Wednesday, October 31st. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Ironwood Pharmaceuticals presently has an average rating of “Hold” and an average price target of $16.45.

The company has a market cap of $2.13 billion, a P/E ratio of -13.68 and a beta of 1.27.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.24). The firm had revenue of $68.69 million during the quarter, compared to analysts’ expectations of $93.48 million. The company’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) EPS. As a group, analysts forecast that Ironwood Pharmaceuticals, Inc. will post -0.91 earnings per share for the current year.

In other Ironwood Pharmaceuticals news, insider Mark G. Currie sold 116,651 shares of Ironwood Pharmaceuticals stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $17.53, for a total value of $2,044,892.03. Following the transaction, the insider now owns 70,680 shares in the company, valued at $1,239,020.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.63% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in Ironwood Pharmaceuticals by 3.1% in the second quarter. FMR LLC now owns 18,088,500 shares of the biotechnology company’s stock valued at $345,852,000 after purchasing an additional 547,724 shares during the last quarter. Vanguard Group Inc. grew its stake in Ironwood Pharmaceuticals by 3.2% in the third quarter. Vanguard Group Inc. now owns 12,324,954 shares of the biotechnology company’s stock valued at $227,518,000 after purchasing an additional 377,177 shares during the last quarter. OppenheimerFunds Inc. grew its stake in Ironwood Pharmaceuticals by 11.1% in the second quarter. OppenheimerFunds Inc. now owns 2,872,640 shares of the biotechnology company’s stock valued at $54,925,000 after purchasing an additional 286,590 shares during the last quarter. Northern Trust Corp grew its stake in Ironwood Pharmaceuticals by 5.1% in the second quarter. Northern Trust Corp now owns 1,641,866 shares of the biotechnology company’s stock valued at $31,392,000 after purchasing an additional 80,100 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Ironwood Pharmaceuticals by 1,569.4% in the second quarter. Point72 Asset Management L.P. now owns 1,085,106 shares of the biotechnology company’s stock valued at $20,747,000 after purchasing an additional 1,020,106 shares during the last quarter. Institutional investors own 94.08% of the company’s stock.

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Ironwood Pharmaceuticals Company Profile (NASDAQ:IRWD)

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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