Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Short Interest Down 10.8% in June

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 20,220,000 shares, a decline of 10.8% from the May 31st total of 22,660,000 shares. Currently, 13.1% of the company’s shares are sold short. Based on an average daily volume of 2,760,000 shares, the days-to-cover ratio is currently 7.3 days.

Analyst Ratings Changes

IRWD has been the subject of a number of analyst reports. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Craig Hallum decreased their price target on Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, May 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $18.40.

Ironwood Pharmaceuticals Stock Down 1.6 %

Shares of Ironwood Pharmaceuticals stock traded down $0.10 on Wednesday, hitting $6.12. 267,512 shares of the company’s stock traded hands, compared to its average volume of 3,762,465. The stock has a market cap of $957.96 million, a P/E ratio of -0.92 and a beta of 0.52. The firm’s 50-day moving average is $6.67 and its 200 day moving average is $9.65. Ironwood Pharmaceuticals has a 52-week low of $5.47 and a 52-week high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.20). The business had revenue of $74.90 million for the quarter, compared to analysts’ expectations of $105.75 million. Ironwood Pharmaceuticals had a negative net margin of 254.41% and a negative return on equity of 28.45%. The business’s quarterly revenue was down 28.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. Equities research analysts forecast that Ironwood Pharmaceuticals will post 0.56 EPS for the current year.

Insider Transactions at Ironwood Pharmaceuticals

In other news, Director Catherine Moukheibir sold 44,426 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $6.36, for a total transaction of $282,549.36. Following the completion of the sale, the director now owns 84,207 shares in the company, valued at approximately $535,556.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Catherine Moukheibir sold 44,426 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $6.36, for a total transaction of $282,549.36. Following the completion of the sale, the director now owns 84,207 shares in the company, valued at approximately $535,556.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julie Mchugh sold 22,766 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $6.29, for a total value of $143,198.14. Following the sale, the director now owns 139,528 shares of the company’s stock, valued at approximately $877,631.12. The disclosure for this sale can be found here. Company insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in IRWD. Dark Forest Capital Management LP acquired a new stake in shares of Ironwood Pharmaceuticals during the 3rd quarter valued at approximately $233,000. Corton Capital Inc. acquired a new stake in shares of Ironwood Pharmaceuticals during the 3rd quarter valued at approximately $156,000. Glenmede Trust Co. NA raised its position in shares of Ironwood Pharmaceuticals by 26.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,324,735 shares of the biotechnology company’s stock valued at $12,757,000 after acquiring an additional 273,689 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Ironwood Pharmaceuticals during the 3rd quarter valued at approximately $193,000. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Ironwood Pharmaceuticals by 160.9% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,462,300 shares of the biotechnology company’s stock valued at $23,712,000 after acquiring an additional 1,518,500 shares in the last quarter.

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.