Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Down 5% – Here’s Why

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) traded down 5% on Thursday . The stock traded as low as $3.57 and last traded at $3.5450. 366,023 shares were traded during trading, a decline of 86% from the average session volume of 2,568,063 shares. The stock had previously closed at $3.73.

Analyst Ratings Changes

A number of brokerages recently issued reports on IRWD. Wall Street Zen raised Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Zacks Research cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday. Finally, Wells Fargo & Company increased their target price on shares of Ironwood Pharmaceuticals from $1.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.34.

Ironwood Pharmaceuticals Price Performance

The firm has a market capitalization of $566.13 million, a P/E ratio of 21.75 and a beta of 0.18. The firm’s 50 day moving average is $2.30 and its two-hundred day moving average is $1.39.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Monday, November 10th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.15. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. The firm had revenue of $122.06 million for the quarter, compared to analyst estimates of $74.22 million. Analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC raised its stake in Ironwood Pharmaceuticals by 21.4% in the third quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 3,406 shares during the period. McAdam LLC bought a new position in shares of Ironwood Pharmaceuticals during the 1st quarter worth approximately $40,000. Vise Technologies Inc. acquired a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter worth approximately $39,000. BNP Paribas Financial Markets raised its stake in Ironwood Pharmaceuticals by 83.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,331 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 15,594 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Ironwood Pharmaceuticals during the 2nd quarter valued at $25,000.

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.