Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Up 3.3%

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) traded up 3.3% on Tuesday . The stock traded as high as $6.66 and last traded at $6.63. 690,178 shares were traded during trading, a decline of 83% from the average session volume of 4,072,257 shares. The stock had previously closed at $6.42.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IRWD. Piper Sandler boosted their price target on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Craig Hallum lowered their price target on Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Wells Fargo & Company cut their price objective on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Finally, StockNews.com cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, April 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Ironwood Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $18.40.

Ironwood Pharmaceuticals Stock Performance

The stock has a market capitalization of $948.57 million, a price-to-earnings ratio of -0.96 and a beta of 0.57. The company has a 50 day moving average of $7.93 and a 200 day moving average of $10.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.20). Ironwood Pharmaceuticals had a negative return on equity of 28.45% and a negative net margin of 254.41%. The firm had revenue of $74.90 million for the quarter, compared to analysts’ expectations of $105.75 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was down 28.0% on a year-over-year basis. As a group, research analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.61 EPS for the current fiscal year.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany acquired 10,684 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average price of $9.38 per share, for a total transaction of $100,215.92. Following the acquisition, the chief financial officer now owns 301,733 shares in the company, valued at approximately $2,830,255.54. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jon R. Duane acquired 6,920 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $8.70 per share, for a total transaction of $60,204.00. Following the completion of the purchase, the director now directly owns 121,028 shares of the company’s stock, valued at approximately $1,052,943.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sravan Kumar Emany acquired 10,684 shares of the company’s stock in a transaction on Monday, March 4th. The shares were purchased at an average cost of $9.38 per share, for a total transaction of $100,215.92. Following the acquisition, the chief financial officer now owns 301,733 shares of the company’s stock, valued at approximately $2,830,255.54. The disclosure for this purchase can be found here. Corporate insiders own 13.10% of the company’s stock.

Institutional Trading of Ironwood Pharmaceuticals

A number of large investors have recently made changes to their positions in IRWD. Signaturefd LLC lifted its stake in Ironwood Pharmaceuticals by 61.4% in the fourth quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 822 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Ironwood Pharmaceuticals by 331.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 1,900 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Ironwood Pharmaceuticals by 152.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 2,645 shares during the period. Headlands Technologies LLC grew its position in Ironwood Pharmaceuticals by 396.5% during the 3rd quarter. Headlands Technologies LLC now owns 6,737 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 5,380 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at $91,000.

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.