Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Down 4.1% – Here’s Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price was down 4.1% during trading on Thursday . The stock traded as low as $4.22 and last traded at $4.25. Approximately 224,714 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,834,480 shares. The stock had previously closed at $4.43.

Wall Street Analyst Weigh In

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

Ironwood Pharmaceuticals Stock Up 4.2 %

The business has a 50-day simple moving average of $4.03 and a two-hundred day simple moving average of $4.80. The stock has a market capitalization of $721.73 million, a price-to-earnings ratio of -150.33 and a beta of 0.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data 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). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. During the same quarter last year, the business posted $0.12 EPS. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current year.

Insider Activity

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 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 legal filing with the SEC, which is available at this link. Insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IRWD. State Street Corp increased its stake in Ironwood Pharmaceuticals by 7.3% in the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock valued at $40,870,000 after buying an additional 677,024 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 23.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock valued at $7,846,000 after acquiring an additional 364,841 shares in the last quarter. FMR LLC increased its stake in shares of Ironwood Pharmaceuticals by 25.1% in the third quarter. FMR LLC now owns 169,681 shares of the biotechnology company’s stock worth $699,000 after acquiring an additional 34,089 shares during the last quarter. Weiss Asset Management LP purchased a new stake in shares of Ironwood Pharmaceuticals during the third quarter worth $893,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Ironwood Pharmaceuticals by 1,293.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 380,960 shares of the biotechnology company’s stock worth $1,570,000 after acquiring an additional 353,624 shares in the last quarter.

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.