Julie Mchugh Sells 21,571 Shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Director Julie Mchugh sold 21,571 shares of the company’s stock in a transaction 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. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ironwood Pharmaceuticals Price Performance

Ironwood Pharmaceuticals stock opened at $3.54 on Friday. Ironwood Pharmaceuticals, Inc. has a one year low of $0.66 and a one year high of $5.78. The business’s fifty day moving average is $3.83 and its 200 day moving average is $3.88. The stock has a market capitalization of $577.23 million, a PE ratio of 5.90 and a beta of 0.25.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued 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). The business had revenue of $106.51 million during the quarter, compared to analysts’ expectations of $92.11 million. Ironwood Pharmaceuticals had a negative return on equity of 39.65% and a net margin of 28.26%. As a group, sell-side analysts expect that Ironwood Pharmaceuticals, Inc. will post 1.04 EPS for the current fiscal year.

Institutional Trading of Ironwood Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in Ironwood Pharmaceuticals by 248.3% in the third quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock worth $15,321,000 after acquiring an additional 8,337,672 shares during the period. Millennium Management LLC grew its position in shares of Ironwood Pharmaceuticals by 186.6% during the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after acquiring an additional 4,140,439 shares during the period. AQR Capital Management LLC increased its stake in shares of Ironwood Pharmaceuticals by 144.3% in the 2nd quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock worth $4,422,000 after purchasing an additional 3,641,762 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Ironwood Pharmaceuticals by 616.3% in the 2nd quarter. Marshall Wace LLP now owns 3,993,557 shares of the biotechnology company’s stock worth $2,875,000 after purchasing an additional 3,436,036 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Ironwood Pharmaceuticals by 740.5% in the 1st quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock worth $5,160,000 after purchasing an additional 3,092,475 shares during the period.

Wall Street Analysts Forecast Growth

IRWD has been the topic of several research reports. Citizens Jmp raised their target price 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 reiterated a “hold” rating and set a $3.70 target price on shares of Ironwood Pharmaceuticals in a research note on Thursday, February 26th. Wall Street Zen raised Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Sunday, May 17th. Weiss Ratings restated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, April 27th. Finally, Zacks Research lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.23.

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.