Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading 3.6% Higher

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWDGet Free Report) shares shot up 3.6% on Friday . The stock traded as high as $5.78 and last traded at $5.78. 11,024 shares traded hands during trading, a decline of 100% from the average session volume of 3,798,109 shares. The stock had previously closed at $5.58.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IRWD. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company cut their price objective on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Finally, Craig Hallum cut their price objective on Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, May 10th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $18.40.

Read Our Latest Research Report on Ironwood Pharmaceuticals

Ironwood Pharmaceuticals Price Performance

The firm has a market cap of $921.96 million, a PE ratio of -0.87 and a beta of 0.51. The company has a 50 day simple moving average of $6.93 and a 200-day simple moving average of $9.90.

Ironwood Pharmaceuticals (NASDAQ:IRWDGet Free Report) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.20). The firm had revenue of $74.90 million during the quarter, compared to analysts’ expectations of $105.75 million. Ironwood Pharmaceuticals had a negative return on equity of 28.45% and a negative net margin of 254.41%. The firm’s quarterly revenue was down 28.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. On average, sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.56 EPS for the current fiscal year.

Insider Activity

In other news, Director Catherine Moukheibir sold 44,426 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $6.36, for a total transaction of $282,549.36. Following the completion of the sale, the director now owns 84,207 shares of the company’s stock, valued at $535,556.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Julie Mchugh sold 22,766 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $6.29, for a total transaction of $143,198.14. Following the completion of the transaction, the director now owns 139,528 shares in the company, valued at $877,631.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Catherine Moukheibir sold 44,426 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $6.36, for a total value of $282,549.36. Following the transaction, the director now owns 84,207 shares of the company’s stock, valued at approximately $535,556.52. The disclosure for this sale can be found here. Insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in IRWD. Vanguard Group Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 21.8% during the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock valued at $170,031,000 after acquiring an additional 3,487,821 shares in the last quarter. Armistice Capital LLC bought a new position in Ironwood Pharmaceuticals in the third quarter worth $33,281,000. Jacobs Levy Equity Management Inc. bought a new position in Ironwood Pharmaceuticals in the third quarter worth $22,903,000. Kynam Capital Management LP bought a new position in Ironwood Pharmaceuticals in the first quarter worth $14,154,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Ironwood Pharmaceuticals by 160.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 2,462,300 shares of the biotechnology company’s stock worth $23,712,000 after purchasing an additional 1,518,500 shares in the last quarter.

About Ironwood Pharmaceuticals

(Get Free Report)

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.

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