Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Free Report)’s stock price shot up 8.7% on Friday . The stock traded as high as $4.09 and last traded at $4.0550. Approximately 839,537 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 3,268,846 shares. The stock had previously closed at $3.73.
Wall Street Analysts Forecast Growth
IRWD has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research report on Friday, July 24th. Wall Street Zen upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Finally, Zacks Research raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.23.
Check Out Our Latest Report on IRWD
Ironwood Pharmaceuticals Price Performance
Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The firm had revenue of $106.51 million during the quarter, compared to analyst estimates of $92.11 million. Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. On average, equities analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.04 EPS for the current fiscal year.
Insider Activity at Ironwood Pharmaceuticals
In other Ironwood Pharmaceuticals news, insider Ronald Silver sold 127,890 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $4.52, for a total transaction of $578,062.80. Following the sale, the insider directly owned 313,680 shares in the company, valued at $1,417,833.60. This represents a 28.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Julie Mchugh sold 21,571 shares of the business’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 transaction of $80,459.83. Following the completion of the transaction, the director owned 250,749 shares of the company’s stock, valued at $935,293.77. The trade was a 7.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 9.30% of the company’s stock.
Hedge Funds Weigh In On Ironwood Pharmaceuticals
Several hedge funds and other institutional investors have recently modified their holdings of the business. LSV Asset Management acquired a new stake in Ironwood Pharmaceuticals in the fourth quarter valued at about $30,000. Jump Financial LLC acquired a new position in Ironwood Pharmaceuticals during the 4th quarter worth about $34,000. DGS Capital Management LLC bought a new stake in Ironwood Pharmaceuticals in the fourth quarter valued at approximately $35,000. Cibc World Markets Corp acquired a new position in Ironwood Pharmaceuticals in the fourth quarter valued at $36,000. Finally, Simplify Asset Management Inc. acquired a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at about $37,000.
Ironwood Pharmaceuticals Company Profile
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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