Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Up 5.8% – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) shares traded up 5.8% on Tuesday . The stock traded as high as $4.64 and last traded at $4.6350. 1,304,692 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 3,450,512 shares. The stock had previously closed at $4.38.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Zacks Research upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, April 27th. Finally, Wall Street Zen raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Sunday, May 17th. Two investment 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.23.

Ironwood Pharmaceuticals Price Performance

The stock has a market cap of $777.80 million, a P/E ratio of 7.95 and a beta of 0.20. The firm’s fifty day moving average price is $3.87 and its two-hundred day moving average price is $3.94.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business 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%. On average, research analysts expect that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Julie Mchugh sold 21,571 shares of Ironwood Pharmaceuticals stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.73, for a total transaction of $80,459.83. Following the completion of the sale, the director owned 250,749 shares in the company, valued at approximately $935,293.77. This trade represents a 7.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.30% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Ironwood Pharmaceuticals by 248.3% in the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock worth $15,321,000 after buying an additional 8,337,672 shares in the last quarter. Millennium Management LLC grew its position in Ironwood Pharmaceuticals by 186.6% during the first 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 last quarter. AQR Capital Management LLC raised its stake in shares of Ironwood Pharmaceuticals by 144.3% during the second quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock worth $4,422,000 after acquiring an additional 3,641,762 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Ironwood Pharmaceuticals by 616.3% during the second quarter. Marshall Wace LLP now owns 3,993,557 shares of the biotechnology company’s stock worth $2,875,000 after acquiring an additional 3,436,036 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of 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 acquiring an additional 3,092,475 shares during the last quarter.

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.