Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Down 5.8% – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price traded down 5.8% during mid-day trading on Thursday . The stock traded as low as $3.61 and last traded at $3.6750. 275,817 shares were traded during trading, a decline of 94% from the average session volume of 4,598,499 shares. The stock had previously closed at $3.90.

Analyst Ratings Changes

IRWD has been the subject of several recent analyst reports. Craig Hallum raised Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Wells Fargo & Company increased their price objective on Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Zacks Research lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Citigroup raised Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, January 5th. Finally, Wall Street Zen downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.93.

Ironwood Pharmaceuticals Price Performance

The business has a 50 day simple moving average of $4.01 and a 200 day simple moving average of $3.19. The stock has a market cap of $574.78 million, a PE ratio of 27.19 and a beta of 0.24.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $47.71 million for the quarter, compared to analysts’ expectations of $86.10 million. Ironwood Pharmaceuticals had a negative return on equity of 13.72% and a net margin of 8.11%. As a group, sell-side analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, Director Alexander J. Denner sold 6,730,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.05, for a total value of $20,528,940.00. Following the completion of the sale, the director directly owned 9,188,635 shares of the company’s stock, valued at $28,025,336.75. The trade was a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of IRWD. Integrated Wealth Concepts LLC boosted its holdings 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 worth $25,000 after purchasing an additional 3,406 shares in the last quarter. LSV Asset Management bought a new stake in shares of Ironwood Pharmaceuticals during the 4th quarter worth about $30,000. Captrust Financial Advisors acquired a new position in shares of Ironwood Pharmaceuticals during the 2nd quarter valued at about $32,000. Jump Financial LLC acquired a new position in shares of Ironwood Pharmaceuticals during the 4th quarter valued at about $34,000. Finally, DGS Capital Management LLC bought a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at approximately $35,000.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.