Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Down 5.9% – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was down 5.9% during trading on Thursday . The stock traded as low as $3.33 and last traded at $3.34. Approximately 341,313 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,838,565 shares. The stock had previously closed at $3.55.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IRWD. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Leerink Partners began coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price objective on the stock. Wells Fargo & Company reduced 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. Craig Hallum lowered their price target on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Ironwood Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Ironwood Pharmaceuticals Trading Up 2.7 %

The company has a fifty day moving average price of $4.06 and a two-hundred day moving average price of $5.09.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $91.22 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The firm’s quarterly revenue was down 19.4% compared to the same quarter last year. Research analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In related 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 value of $44,884.08. Following the transaction, the chief financial officer now directly owns 309,572 shares in the company, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 12.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several large investors have recently modified their holdings of the business. KBC Group NV lifted its holdings in shares of Ironwood Pharmaceuticals by 59.3% in the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 3,198 shares during the last quarter. CWM LLC lifted its stake in Ironwood Pharmaceuticals by 55.1% during 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 during the third quarter worth $51,000. Diversified Trust Co purchased a new position in shares of Ironwood Pharmaceuticals during the third quarter worth $52,000. Finally, Legacy Capital Group California Inc. acquired a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at $59,000.

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.