Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Down 4.3% – What’s Next?

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) dropped 4.3% during mid-day trading on Wednesday . The stock traded as low as $3.55 and last traded at $3.56. Approximately 61,270 shares traded hands during trading, a decline of 98% from the average daily volume of 2,827,905 shares. The stock had previously closed at $3.72.

Wall Street Analysts Forecast Growth

IRWD has been the subject of several recent research reports. Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Leerink Partners assumed coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.40.

Ironwood Pharmaceuticals Price Performance

The business has a fifty day moving average of $4.03 and a 200-day moving average of $5.02.

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

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the transaction, the chief financial officer now owns 309,572 shares of the company’s stock, valued at $1,263,053.76. The trade was a 3.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 12.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC boosted its holdings in shares of 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 buying an additional 2,345 shares during the period. KBC Group NV grew its stake in 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 acquiring an additional 3,198 shares in the last quarter. First Dallas Securities Inc. acquired a new position in Ironwood Pharmaceuticals in the 2nd quarter valued at approximately $73,000. Diversified Trust Co acquired a new stake in Ironwood Pharmaceuticals during the third quarter valued at $52,000. Finally, Wolverine Trading LLC acquired a new stake in Ironwood Pharmaceuticals in the third quarter valued at approximately $51,000.

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.