Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $4.47, but opened at $4.68. Ironwood Pharmaceuticals shares last traded at $4.7780, with a volume of 636,097 shares trading hands.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on IRWD shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, April 27th. Zacks Research upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $6.23.
View Our Latest Stock Analysis on IRWD
Ironwood Pharmaceuticals Trading Up 3.9%
Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $106.51 million for the quarter, compared to the consensus estimate of $92.11 million. Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. As a group, research analysts expect that Ironwood Pharmaceuticals, Inc. will post 1.04 EPS for the current fiscal year.
Insider Transactions at Ironwood Pharmaceuticals
In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 21,571 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.73, for a total transaction of $80,459.83. Following the sale, the director directly owned 250,749 shares of the company’s stock, valued at $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 available through this link. Corporate insiders own 9.30% of the company’s stock.
Institutional Trading of Ironwood Pharmaceuticals
Several hedge funds and other institutional investors have recently modified their holdings of IRWD. Integrated Wealth Concepts LLC boosted its holdings 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 during the period. LSV Asset Management bought a new stake in Ironwood Pharmaceuticals during the 4th quarter valued at $30,000. Captrust Financial Advisors purchased a new stake in shares of Ironwood Pharmaceuticals during the second quarter worth $32,000. Jump Financial LLC purchased a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth $34,000. Finally, DGS Capital Management LLC bought a new position in shares of Ironwood Pharmaceuticals in the fourth quarter worth $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.
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