Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Down 9.4% – Here’s Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWDGet Free Report)’s stock price traded down 9.4% during trading on Wednesday . The company traded as low as $3.83 and last traded at $3.7050. 250,639 shares were traded during mid-day trading, a decline of 93% from the average session volume of 3,819,363 shares. The stock had previously closed at $4.09.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IRWD shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.70 price objective on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 26th. Wall Street Zen cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a report on Monday, April 27th. Zacks Research downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Citizens Jmp raised their target price on Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 26th. One equities research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $6.23.

Read Our Latest Report on IRWD

Ironwood Pharmaceuticals Trading Down 7.2%

The firm has a market capitalization of $618.81 million, a PE ratio of 6.33 and a beta of 0.29. The company has a fifty day moving average price of $3.74 and a two-hundred day moving average price of $3.69.

Ironwood Pharmaceuticals (NASDAQ:IRWDGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.24 EPS 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 firm had revenue of $106.51 million for the quarter, compared to analyst estimates of $92.11 million. As a group, equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Alexander J. Denner sold 6,730,800 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $3.05, for a total transaction of $20,528,940.00. Following the completion of the sale, the director owned 9,188,635 shares in the company, valued at $28,025,336.75. This represents a 42.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of Ironwood Pharmaceuticals by 529.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,082,055 shares of the biotechnology company’s stock worth $7,307,000 after buying an additional 1,751,219 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Ironwood Pharmaceuticals in the 1st quarter valued at about $278,000. Hillsdale Investment Management Inc. raised its stake in Ironwood Pharmaceuticals by 6.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,236,628 shares of the biotechnology company’s stock valued at $4,341,000 after acquiring an additional 80,250 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Ironwood Pharmaceuticals during the 1st quarter worth approximately $40,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in Ironwood Pharmaceuticals during the 1st quarter worth approximately $65,000.

About Ironwood Pharmaceuticals

(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.

Further Reading

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