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

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

Analysts Set New Price Targets

A number of equities research analysts have commented on IRWD shares. StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Craig Hallum reduced their target price on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Ironwood Pharmaceuticals Trading Up 6.1 %

The firm has a market cap of $629.72 million, a price-to-earnings ratio of -131.17 and a beta of 0.34. The firm has a 50 day moving average price of $3.90 and a 200-day moving average price of $4.54.

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

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the transaction, the chief financial officer now owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. The trade was a 3.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Ironwood Pharmaceuticals by 7.3% in the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock valued at $40,870,000 after buying an additional 677,024 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Ironwood Pharmaceuticals by 23.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock valued at $7,846,000 after buying an additional 364,841 shares during the period. FMR LLC grew its holdings in Ironwood Pharmaceuticals by 25.1% in the 3rd quarter. FMR LLC now owns 169,681 shares of the biotechnology company’s stock valued at $699,000 after buying an additional 34,089 shares during the period. Pacer Advisors Inc. grew its holdings in Ironwood Pharmaceuticals by 26.6% in the 3rd quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock valued at $46,473,000 after buying an additional 2,372,183 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in Ironwood Pharmaceuticals in the 3rd quarter valued at about $893,000.

About Ironwood Pharmaceuticals

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.