Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Down 4.1% – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price dropped 4.1% on Thursday . The company traded as low as $4.22 and last traded at $4.25. Approximately 224,714 shares were traded during trading, a decline of 92% from the average daily volume of 2,834,480 shares. The stock had previously closed at $4.43.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a “market perform” rating and a $5.00 price objective for the company. Finally, StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Ironwood Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Ironwood Pharmaceuticals Stock Performance

The firm’s 50-day simple moving average is $4.03 and its 200 day simple moving average is $4.80. The company has a market capitalization of $721.73 million, a PE ratio of -150.33 and a beta of 0.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results 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 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 quarterly revenue was down 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share. As a group, equities analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the stock in a transaction 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 sale, the chief financial officer now owns 309,572 shares in the company, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at $78,000. Vestcor Inc grew its holdings in Ironwood Pharmaceuticals by 37.8% in the 3rd quarter. Vestcor Inc now owns 159,466 shares of the biotechnology company’s stock valued at $657,000 after buying an additional 43,703 shares during the period. Jane Street Group LLC increased its stake in shares of Ironwood Pharmaceuticals by 102.7% during the 3rd quarter. Jane Street Group LLC now owns 323,638 shares of the biotechnology company’s stock valued at $1,333,000 after acquiring an additional 164,006 shares during the last quarter. Wolverine Trading LLC purchased a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter worth about $51,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Ironwood Pharmaceuticals in the third quarter worth approximately $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.