Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Up 6.4% – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) shares were up 6.4% during mid-day trading on Monday . The stock traded as high as $3.95 and last traded at $3.95. Approximately 96,933 shares changed hands during trading, a decline of 94% from the average daily volume of 1,741,280 shares. The stock had previously closed at $3.71.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IRWD shares. StockNews.com cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Craig Hallum reduced their price target on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Ironwood Pharmaceuticals Stock Up 6.1 %

The company’s fifty day moving average is $3.90 and its two-hundred day moving average is $4.54. The stock has a market cap of $629.72 million, a price-to-earnings ratio of -131.17 and a beta of 0.34.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). The firm had revenue of $91.60 million during the quarter, compared to analyst estimates of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The firm’s revenue was down 19.4% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. Sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.08, for a total transaction of $44,884.08. Following the transaction, the chief financial officer now directly owns 309,572 shares in the company, valued at approximately $1,263,053.76. This trade represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 12.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently modified their holdings of the business. KBC Group NV grew its position in Ironwood Pharmaceuticals by 59.3% in the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 3,198 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Ironwood Pharmaceuticals by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,932 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 3,209 shares during the last quarter. Creative Planning grew its position in Ironwood Pharmaceuticals by 12.7% in the 3rd quarter. Creative Planning now owns 42,151 shares of the biotechnology company’s stock valued at $174,000 after buying an additional 4,749 shares during the last quarter. Quantinno Capital Management LP grew its position in Ironwood Pharmaceuticals by 40.0% in the 3rd quarter. Quantinno Capital Management LP now owns 19,191 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 5,482 shares during the last quarter. Finally, Everence Capital Management Inc. grew its position in Ironwood Pharmaceuticals by 36.3% in the 3rd quarter. Everence Capital Management Inc. now owns 27,850 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 7,420 shares during the last quarter.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.