Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Short Interest Update

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 16,250,000 shares, an increase of 34.9% from the February 28th total of 12,050,000 shares. Based on an average daily trading volume, of 3,340,000 shares, the short-interest ratio is currently 4.9 days. Currently, 10.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. Craig Hallum lowered their price objective on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, JMP Securities dropped their price objective on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $8.60.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 139,064 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $244,752.64. Following the completion of the sale, the chief executive officer now directly owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. The trade was a 10.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $72,633.44. Following the completion of the sale, the chief marketing officer now owns 554,007 shares in the company, valued at $975,052.32. The trade was a 6.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 192,381 shares of company stock worth $338,591 over the last quarter. Insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ironwood Pharmaceuticals during the 4th quarter worth approximately $36,000. Journey Strategic Wealth LLC purchased a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth approximately $45,000. Catalyst Funds Management Pty Ltd acquired a new position in Ironwood Pharmaceuticals in the 4th quarter valued at $47,000. Envestnet Asset Management Inc. purchased a new position in Ironwood Pharmaceuticals in the 4th quarter valued at $50,000. Finally, Xponance Inc. acquired a new stake in Ironwood Pharmaceuticals during the 4th quarter worth $50,000.

Ironwood Pharmaceuticals Price Performance

IRWD stock traded down $0.06 during mid-day trading on Tuesday, reaching $1.41. 1,380,068 shares of the company’s stock were exchanged, compared to its average volume of 2,422,865. Ironwood Pharmaceuticals has a 12-month low of $1.32 and a 12-month high of $8.56. The stock’s 50 day moving average is $2.00 and its 200 day moving average is $3.36. The company has a market cap of $225.64 million, a price-to-earnings ratio of -47.00 and a beta of 0.37.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $90.55 million for the quarter, compared to analysts’ expectations of $93.85 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. On average, research analysts forecast that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

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.