Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Down 6.7% – Should You Sell?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price dropped 6.7% during mid-day trading on Monday . The company traded as low as $3.99 and last traded at $4.01. Approximately 213,572 shares changed hands during trading, a decline of 93% from the average daily volume of 3,150,202 shares. The stock had previously closed at $4.30.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Leerink Partners assumed coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They set a “market perform” rating and a $5.00 target price on the stock. StockNews.com raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Finally, Wells Fargo & Company dropped 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $12.17.

Ironwood Pharmaceuticals Price Performance

The company has a market cap of $658.99 million, a price-to-earnings ratio of -0.64 and a beta of 0.48. The firm has a 50 day simple moving average of $4.69 and a 200-day simple moving average of $6.20.

Insider Buying and Selling at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 9,910 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $4.27, for a total transaction of $42,315.70. Following the completion of the transaction, the insider now owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently bought and sold shares of IRWD. Hotchkis & Wiley Capital Management LLC increased its stake in Ironwood Pharmaceuticals by 4.0% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,140,470 shares of the biotechnology company’s stock worth $13,047,000 after purchasing an additional 43,800 shares during the period. Parkman Healthcare Partners LLC lifted its holdings in Ironwood Pharmaceuticals by 20.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 120,652 shares of the biotechnology company’s stock worth $1,380,000 after buying an additional 20,652 shares in the last quarter. Eventide Asset Management LLC acquired a new stake in Ironwood Pharmaceuticals during the 4th quarter worth approximately $8,472,000. Gerber LLC purchased a new position in Ironwood Pharmaceuticals in the 4th quarter valued at approximately $316,000. Finally, Vanguard Group Inc. grew its stake in shares of Ironwood Pharmaceuticals by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 16,033,545 shares of the biotechnology company’s stock worth $183,424,000 after acquiring an additional 1,137,845 shares in the last quarter.

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.