Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Free Report) saw an uptick in trading volume on Tuesday . Approximately 2,917,703 shares changed hands during trading, a decline of 11% from the previous session’s volume of 3,290,406 shares.The stock last traded at $4.3850 and had previously closed at $4.42.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Zacks Research downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ironwood Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $6.23.
Get Our Latest Analysis on IRWD
Ironwood Pharmaceuticals Price Performance
Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Free Report) last issued its quarterly earnings results 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). 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 analysts’ expectations of $92.11 million. As a group, equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Julie Mchugh sold 21,571 shares of the firm’s stock in a transaction dated 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 owned 250,749 shares of the company’s stock, valued at $935,293.77. This trade represents a 7.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ronald Silver sold 127,890 shares of Ironwood Pharmaceuticals 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 owned 313,680 shares of the company’s stock, valued at $1,417,833.60. The trade was a 28.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Ironwood Pharmaceuticals
A number of hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management bought a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter valued at approximately $30,000. Jump Financial LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter worth $34,000. DGS Capital Management LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter worth $35,000. Cibc World Markets Corp bought a new position in shares of Ironwood Pharmaceuticals during the 4th quarter worth $36,000. Finally, Simplify Asset Management Inc. bought a new position in shares of Ironwood Pharmaceuticals during the 4th quarter worth $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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