Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Passes Above 200 Day Moving Average – Should You Sell?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.61 and traded as high as $4.88. Ironwood Pharmaceuticals shares last traded at $4.83, with a volume of 3,761,616 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on IRWD. Citizens Jmp increased 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. Jefferies Financial Group reiterated a “hold” rating and set a $3.70 target price on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, April 27th. Zacks Research cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.23.

Ironwood Pharmaceuticals Stock Performance

The firm has a market cap of $787.58 million, a PE ratio of 37.15 and a beta of 0.29. The firm has a fifty day simple moving average of $3.69 and a two-hundred day simple moving average of $3.61.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $47.71 million for the quarter, compared to analysts’ expectations of $86.10 million. Ironwood Pharmaceuticals had a net margin of 8.11% and a negative return on equity of 13.72%. Equities analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, Director Alexander J. Denner sold 6,730,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $3.05, for a total transaction of $20,528,940.00. Following the completion of the transaction, the director owned 9,188,635 shares in the company, valued at $28,025,336.75. This trade represents a 42.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management purchased a new position in Ironwood Pharmaceuticals during the 4th quarter valued at approximately $30,000. Jump Financial LLC purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter worth approximately $34,000. DGS Capital Management LLC purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter worth approximately $35,000. Cibc World Markets Corp purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter worth approximately $36,000. Finally, Simplify Asset Management Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter worth approximately $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.