Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Up 3.9% – Should You Buy?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price rose 3.9% on Tuesday . The stock traded as high as $3.48 and last traded at $3.48. Approximately 707,252 shares traded hands during trading, a decline of 75% from the average daily volume of 2,876,646 shares. The stock had previously closed at $3.35.

Analyst Ratings Changes

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

Ironwood Pharmaceuticals Trading Up 7.2 %

The company’s 50 day moving average is $4.18 and its 200-day moving average is $5.27. The firm has a market capitalization of $574.51 million, a price-to-earnings ratio of -119.00 and a beta of 0.47.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data 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). The company had revenue of $91.60 million for the quarter, compared to analyst estimates 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 was down 19.4% on a year-over-year basis. During the same quarter last year, the business earned $0.12 earnings per share. Research analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now directly owns 309,572 shares in the company, valued at approximately $1,263,053.76. The trade was a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 12.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Ironwood Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Ironwood Pharmaceuticals by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock valued at $170,031,000 after buying an additional 3,487,821 shares during the period. Armistice Capital LLC boosted its stake in Ironwood Pharmaceuticals by 44.4% in the second 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 in the last quarter. Pacer Advisors Inc. grew its position in Ironwood Pharmaceuticals by 26.6% in the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 2,372,183 shares during the last quarter. Renaissance Technologies LLC raised its stake in Ironwood Pharmaceuticals by 20.7% during the second quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock worth $55,889,000 after acquiring an additional 1,472,097 shares in the last quarter. Finally, Stonepine Capital Management LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 1,982.8% in the third quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $4,120,000 after acquiring an additional 951,988 shares during 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.