Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Short Interest Update

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 10,960,000 shares, a decrease of 8.1% from the October 15th total of 11,930,000 shares. Based on an average daily volume of 1,660,000 shares, the days-to-cover ratio is presently 6.6 days. Approximately 7.0% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research firms have recently commented on IRWD. Craig Hallum cut their price objective on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Capital One Financial lowered shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $12.00 to $4.00 in a research report on Thursday, August 8th. Leerink Partners began coverage on Ironwood Pharmaceuticals in a research report on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price on the stock. StockNews.com lowered shares of 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Vestcor Inc grew its holdings in Ironwood Pharmaceuticals by 37.8% in the third quarter. Vestcor Inc now owns 159,466 shares of the biotechnology company’s stock valued at $657,000 after purchasing an additional 43,703 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Ironwood Pharmaceuticals by 102.7% in the 3rd quarter. Jane Street Group LLC now owns 323,638 shares of the biotechnology company’s stock worth $1,333,000 after buying an additional 164,006 shares in the last quarter. Wolverine Trading LLC acquired a new stake in Ironwood Pharmaceuticals in the 3rd quarter valued at about $51,000. Weiss Asset Management LP purchased a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at about $893,000. Finally, State Street Corp raised its position in Ironwood Pharmaceuticals by 7.3% during the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after acquiring an additional 677,024 shares during the last quarter.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD traded down $0.19 during mid-day trading on Monday, reaching $4.02. The company’s stock had a trading volume of 1,263,838 shares, compared to its average volume of 2,907,575. The company’s 50 day moving average is $4.27 and its 200 day moving average is $5.45. The stock has a market cap of $642.15 million, a PE ratio of -134.00 and a beta of 0.47. Ironwood Pharmaceuticals has a 12-month low of $3.79 and a 12-month high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $91.22 million. During the same quarter in the previous year, the company posted $0.12 EPS. The firm’s quarterly revenue was down 19.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ironwood Pharmaceuticals will post 0.1 EPS for the current fiscal year.

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.