Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Short Interest Down 21.8% in November

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 8,570,000 shares, a decline of 21.8% from the October 31st total of 10,960,000 shares. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,630,000 shares, the days-to-cover ratio is presently 5.3 days.

Insider Activity

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the sale, the chief financial officer now directly owns 309,572 shares of the company’s stock, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 12.90% of the company’s stock.

Institutional Trading of Ironwood Pharmaceuticals

Large investors have recently bought and sold shares of the business. KBC Group NV boosted its position in shares of Ironwood Pharmaceuticals by 59.3% during the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 3,198 shares in the last quarter. CWM LLC increased its holdings in Ironwood Pharmaceuticals by 55.1% in the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 2,345 shares in the last quarter. Wolverine Trading LLC acquired a new position in Ironwood Pharmaceuticals in the third quarter valued at approximately $51,000. Diversified Trust Co bought a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter worth approximately $52,000. Finally, Legacy Capital Group California Inc. acquired a new stake in shares of Ironwood Pharmaceuticals during the 3rd quarter worth approximately $59,000.

Ironwood Pharmaceuticals Price Performance

Ironwood Pharmaceuticals stock opened at $3.52 on Monday. The stock’s 50 day moving average is $4.12 and its 200 day moving average is $5.18. Ironwood Pharmaceuticals has a one year low of $3.26 and a one year high of $15.70. The firm has a market cap of $563.31 million, a P/E ratio of -117.33 and a beta of 0.47.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The firm had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. During the same period in the prior year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. Equities analysts anticipate that Ironwood Pharmaceuticals will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IRWD has been the topic of several research reports. Leerink Partnrs raised shares of 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 dropped their price target for the company from $12.00 to $4.00 in a research note on Thursday, August 8th. Craig Hallum reduced their price objective on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company lowered 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. Finally, StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $10.40.

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.