Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Down 4.2%

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) dropped 4.2% on Monday . The company traded as low as $4.38 and last traded at $4.38. Approximately 154,162 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 3,266,907 shares. The stock had previously closed at $4.57.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IRWD. StockNews.com raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. Wells Fargo & Company cut their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $12.00 to $4.00 in a research report on Thursday, August 8th. Finally, Craig Hallum cut their target price 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Ironwood Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $13.57.

Ironwood Pharmaceuticals Trading Down 2.2 %

The firm has a market capitalization of $714.04 million, a price-to-earnings ratio of -0.67 and a beta of 0.49. The company has a 50-day moving average of $5.55 and a 200-day moving average of $6.77.

Insider Buying and Selling

In related news, insider Minardo John sold 9,910 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $4.27, for a total transaction of $42,315.70. Following the completion of the transaction, the insider now directly owns 284,661 shares in the company, valued at approximately $1,215,502.47. The sale was disclosed in a document filed with the SEC, which is available through this link. 12.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IRWD. Vanguard Group Inc. grew its stake in shares of Ironwood Pharmaceuticals by 21.8% in the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock worth $170,031,000 after purchasing an additional 3,487,821 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Ironwood Pharmaceuticals by 23.6% in the second quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company’s stock worth $58,078,000 after purchasing an additional 1,701,452 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Ironwood Pharmaceuticals by 20.7% in the second quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock worth $55,889,000 after purchasing an additional 1,472,097 shares in the last quarter. Armistice Capital LLC grew its stake in shares of Ironwood Pharmaceuticals by 44.4% in the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock worth $50,856,000 after purchasing an additional 2,400,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Ironwood Pharmaceuticals by 40.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,235,580 shares of the biotechnology company’s stock worth $36,892,000 after purchasing an additional 1,226,377 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.