Ironwood Pharmaceuticals (NASDAQ:IRWD) Share Price Breaks Above 200-Day Moving Average – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $3.97 and traded as high as $4.41. Ironwood Pharmaceuticals shares last traded at $4.03, with a volume of 4,985,414 shares traded.

Analysts Set New Price Targets

IRWD has been the subject of several recent analyst reports. Wall Street Zen lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. Jefferies Financial Group raised Ironwood Pharmaceuticals to a “hold” rating in a research note on Friday, September 25th. Weiss Ratings upgraded Ironwood Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Zacks Research lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.23.

Ironwood Pharmaceuticals Stock Up 6.9%

The stock has a market capitalization of $665.92 million, a PE ratio of 5.23 and a beta of 0.25. The stock’s 50 day moving average price is $3.91 and its 200-day moving average price is $3.97.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $133.04 million for the quarter, compared to the consensus estimate of $119.99 million. Ironwood Pharmaceuticals had a net margin of 33.36% and a negative return on equity of 58.38%. As a group, sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post 1.10 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Vise Technologies Inc. increased its position in shares of Ironwood Pharmaceuticals by 7.7% during the third quarter. Vise Technologies Inc. now owns 39,698 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 2,848 shares during the period. State of Wyoming raised its stake in shares of Ironwood Pharmaceuticals by 3.0% during the third quarter. State of Wyoming now owns 104,850 shares of the biotechnology company’s stock valued at $416,000 after acquiring an additional 3,069 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Ironwood Pharmaceuticals by 4.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 85,935 shares of the biotechnology company’s stock valued at $323,000 after acquiring an additional 3,620 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Ironwood Pharmaceuticals by 15.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 30,150 shares of the biotechnology company’s stock valued at $125,000 after acquiring an additional 3,952 shares in the last quarter. Finally, DGS Capital Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 42.8% in the first quarter. DGS Capital Management LLC now owns 14,883 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 4,458 shares during the period.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a gastrointestinal-focused biopharmaceutical company headquartered in Boston, Massachusetts. The company discovers, develops, and commercializes medicines intended to treat disorders affecting the gastrointestinal tract, with an emphasis on conditions involving gut motility and visceral sensitivity.

Ironwood’s principal commercial product is Linzess (linaclotide), marketed in the United States in collaboration with AbbVie. Linzess is approved for adults with irritable bowel syndrome with constipation and chronic idiopathic constipation.