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

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $3.35, but opened at $3.52. Ironwood Pharmaceuticals shares last traded at $3.52, with a volume of 114,390 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IRWD. StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Leerink Partners began coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target on the stock. Craig Hallum reduced their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Wells Fargo & Company decreased their target price on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Ironwood Pharmaceuticals Price Performance

The stock has a 50-day moving average of $4.13 and a 200 day moving average of $5.22.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business had revenue of $91.60 million during the quarter, compared to analyst estimates of $91.22 million. During the same quarter in the previous year, the company earned $0.12 EPS. The firm’s revenue was down 19.4% compared to the same quarter last year. As a group, equities analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of Ironwood Pharmaceuticals stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in Ironwood Pharmaceuticals by 55.1% during the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 2,345 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Ironwood Pharmaceuticals by 3.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 70,400 shares of the biotechnology company’s stock worth $459,000 after purchasing an additional 2,400 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 3.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 72,030 shares of the biotechnology company’s stock worth $470,000 after purchasing an additional 2,491 shares during the last quarter. Rhumbline Advisers grew its holdings in Ironwood Pharmaceuticals by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 365,701 shares of the biotechnology company’s stock valued at $2,384,000 after buying an additional 2,577 shares in the last quarter. Finally, KBC Group NV increased its position in Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 3,198 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.