Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Down 8.7% – Should You Sell?

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) traded down 8.7% during mid-day trading on Friday . The stock traded as low as $4.14 and last traded at $4.18. Approximately 531,912 shares changed hands during trading, a decline of 76% from the average daily volume of 2,207,972 shares. The stock had previously closed at $4.58.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

Ironwood Pharmaceuticals Stock Down 8.7 %

The company has a market capitalization of $668.92 million, a price-to-earnings ratio of -139.33 and a beta of 0.34. The business’s 50-day moving average is $4.06 and its 200-day moving average is $4.76.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). The company had revenue of $91.60 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 EPS. As a group, analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the transaction, the chief financial officer now owns 309,572 shares in the company, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of Ironwood Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Pacer Advisors Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 26.6% during the 3rd quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock worth $46,473,000 after acquiring an additional 2,372,183 shares during the period. State Street Corp raised its stake in Ironwood Pharmaceuticals by 7.3% during the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after purchasing an additional 677,024 shares during the period. Renaissance Technologies LLC boosted its holdings in Ironwood Pharmaceuticals by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock valued at $55,889,000 after purchasing an additional 1,472,097 shares during the last quarter. Armistice Capital LLC grew its stake in shares of Ironwood Pharmaceuticals by 44.4% in the 2nd quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock valued at $50,856,000 after buying an additional 2,400,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 23.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock worth $7,846,000 after buying an additional 364,841 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.