Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 11,610,000 shares, a drop of 14.6% from the August 31st total of 13,600,000 shares. Based on an average daily volume of 2,050,000 shares, the days-to-cover ratio is currently 5.7 days. Approximately 7.5% of the company’s shares are short sold.
Ironwood Pharmaceuticals Trading Up 2.5 %
NASDAQ:IRWD traded up $0.10 during mid-day trading on Monday, hitting $4.12. The company had a trading volume of 2,757,334 shares, compared to its average volume of 3,205,930. The business has a fifty day simple moving average of $5.07 and a 200-day simple moving average of $6.43. The firm has a market capitalization of $644.90 million, a price-to-earnings ratio of -0.59 and a beta of 0.49. Ironwood Pharmaceuticals has a 1 year low of $3.79 and a 1 year high of $15.70.
Insider Transactions at Ironwood Pharmaceuticals
In related news, insider Minardo John sold 9,910 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $4.27, for a total transaction of $42,315.70. Following the transaction, the insider now directly owns 284,661 shares in the company, valued at $1,215,502.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.90% of the company’s stock.
Hedge Funds Weigh In On Ironwood Pharmaceuticals
Wall Street Analysts Forecast Growth
IRWD has been the topic of a number of recent analyst reports. StockNews.com raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. Craig Hallum dropped their price target on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Wells Fargo & Company reduced 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. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.17.
Get Our Latest Stock Analysis on Ironwood Pharmaceuticals
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.
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