Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Up 9.7% – Here’s Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWDGet Free Report) shares rose 9.7% during mid-day trading on Monday . The company traded as high as $3.85 and last traded at $3.8850. Approximately 1,233,905 shares changed hands during trading, a decline of 65% from the average daily volume of 3,507,903 shares. The stock had previously closed at $3.54.

Analysts Set New Price Targets

Several research analysts have commented on the company. Zacks Research downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Citizens Jmp increased their price target on shares of Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the stock a “market outperform” rating in a report on Thursday, February 26th. Jefferies Financial Group restated a “hold” rating and issued a $3.70 price objective on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.23.

View Our Latest Analysis on Ironwood Pharmaceuticals

Ironwood Pharmaceuticals Price Performance

The company has a market cap of $623.70 million, a P/E ratio of 6.48 and a beta of 0.25. The company has a 50 day moving average of $3.83 and a 200-day moving average of $3.88.

Ironwood Pharmaceuticals (NASDAQ:IRWDGet Free Report) last announced its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Ironwood Pharmaceuticals had a negative return on equity of 39.65% and a net margin of 28.26%.The business had revenue of $106.51 million during the quarter, compared to the consensus estimate of $92.11 million. Research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.04 EPS for the current year.

Insider Activity at Ironwood Pharmaceuticals

In related news, Director Julie Mchugh sold 21,571 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.73, for a total value of $80,459.83. Following the transaction, the director directly owned 250,749 shares in the company, valued at approximately $935,293.77. This represents a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.30% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its stake in Ironwood Pharmaceuticals by 21.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock worth $25,000 after buying 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 $30,000. Captrust Financial Advisors purchased a new position in Ironwood Pharmaceuticals in the second quarter worth $32,000. Jump Financial LLC purchased a new position in Ironwood Pharmaceuticals in the fourth quarter worth $34,000. Finally, DGS Capital Management LLC bought a new position in Ironwood Pharmaceuticals in the fourth quarter valued at $35,000.

Ironwood Pharmaceuticals Company Profile

(Get Free Report)

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.

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