Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Down 7.3% – Here’s What Happened

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) fell 7.3% on Tuesday . The company traded as low as $4.43 and last traded at $4.43. 369,929 shares changed hands during trading, a decline of 87% from the average session volume of 2,929,271 shares. The stock had previously closed at $4.78.

Analyst Ratings Changes

A number of research firms have weighed in on IRWD. Craig Hallum lowered their price objective on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company lowered their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Leerink Partners assumed coverage on Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target on the stock. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $12.00 to $4.00 in a research note on Thursday, August 8th. Finally, StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.40.

Ironwood Pharmaceuticals Stock Performance

The company has a 50 day moving average of $4.29 and a 200-day moving average of $5.52. The stock has a market cap of $656.53 million, a price-to-earnings ratio of -145.33 and a beta of 0.47.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its 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). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm had revenue of $91.60 million for the quarter, compared to analyst estimates of $91.22 million. During the same period in the previous year, the company posted $0.12 EPS. Ironwood Pharmaceuticals’s revenue was down 19.4% on a year-over-year basis. On average, research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Large investors have recently bought and sold shares of the stock. KBC Group NV increased its holdings in Ironwood Pharmaceuticals by 59.3% during the 3rd 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 period. CWM LLC increased its holdings 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 period. Diversified Trust Co purchased a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at about $52,000. Legacy Capital Group California Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at about $59,000. Finally, GAMMA Investing LLC increased its holdings in shares of Ironwood Pharmaceuticals by 344.1% in the 2nd quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 8,156 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.