Ironwood Pharmaceuticals (NASDAQ:IRWD) Hits New 1-Year Low on Insider Selling

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) hit a new 52-week low during trading on Wednesday following insider selling activity. The stock traded as low as $3.70 and last traded at $3.73, with a volume of 53965 shares. The stock had previously closed at $3.81.

Specifically, 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 completion of the transaction, the chief financial officer now owns 309,572 shares of the company’s stock, valued at $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IRWD shares. Wells Fargo & Company reduced their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Craig Hallum reduced their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 9th. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $12.00 to $4.00 in a report on Thursday, August 8th. Finally, StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Ironwood Pharmaceuticals Stock Down 5.1 %

The business has a 50-day moving average price of $4.25 and a 200-day moving average price of $5.38. The firm has a market capitalization of $534.49 million, a PE ratio of -111.33 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 for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business 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 was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 earnings per share. On average, equities research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in Ironwood Pharmaceuticals in the third quarter worth approximately $78,000. Vestcor Inc boosted its position in shares of Ironwood Pharmaceuticals by 37.8% during the third quarter. Vestcor Inc now owns 159,466 shares of the biotechnology company’s stock worth $657,000 after buying an additional 43,703 shares during the period. Jane Street Group LLC boosted its position in shares of Ironwood Pharmaceuticals by 102.7% during the third quarter. Jane Street Group LLC now owns 323,638 shares of the biotechnology company’s stock worth $1,333,000 after buying an additional 164,006 shares during the period. Wolverine Trading LLC purchased a new position in shares of Ironwood Pharmaceuticals during the third quarter worth $51,000. Finally, Weiss Asset Management LP purchased a new position in shares of Ironwood Pharmaceuticals during the third quarter worth $893,000.

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.