Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Down 5% – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was down 5% on Thursday . The company traded as low as $4.30 and last traded at $4.38. Approximately 123,974 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 2,846,078 shares. The stock had previously closed at $4.61.

Analyst Upgrades and Downgrades

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

Ironwood Pharmaceuticals Stock Performance

The firm has a fifty day simple moving average of $3.99 and a two-hundred day simple moving average of $4.85. The firm has a market cap of $712.12 million, a PE ratio of -148.33 and a beta of 0.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly 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 business had revenue of $91.60 million during the quarter, compared to the consensus estimate 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 for the quarter was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. Equities analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the company’s 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 sale, the chief financial officer now directly owns 309,572 shares in the company, valued at $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 12.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several large investors have recently modified their holdings of IRWD. KBC Group NV lifted its position in Ironwood Pharmaceuticals by 59.3% in the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after buying an additional 3,198 shares during the last quarter. First Dallas Securities Inc. bought a new stake in shares of Ironwood Pharmaceuticals in the 2nd quarter worth about $73,000. Diversified Trust Co purchased a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter worth about $52,000. Wolverine Trading LLC bought a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at about $51,000. Finally, Algert Global LLC bought a new position in Ironwood Pharmaceuticals during the 2nd quarter valued at about $93,000.

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.