Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Down 4.4% – What’s Next?

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) dropped 4.4% during trading on Friday . The company traded as low as $3.49 and last traded at $3.51. Approximately 140,111 shares changed hands during trading, a decline of 95% from the average daily volume of 2,867,328 shares. The stock had previously closed at $3.67.

Wall Street Analyst Weigh In

IRWD has been the subject of a number of recent analyst reports. Craig Hallum dropped their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Capital One Financial cut shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $12.00 to $4.00 in a research report on Thursday, August 8th. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. Leerink Partners initiated coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They set a “market perform” rating and a $5.00 price objective for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Ironwood Pharmaceuticals Trading Down 4.1 %

The firm’s fifty day simple moving average is $4.13 and its 200 day simple moving average is $5.22.

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. Equities analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.08, for a total transaction of $44,884.08. Following the transaction, the chief financial officer now directly owns 309,572 shares in the company, valued at $1,263,053.76. This represents a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Ironwood Pharmaceuticals by 21.8% during the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock worth $170,031,000 after buying an additional 3,487,821 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Ironwood Pharmaceuticals by 3.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 152,492 shares of the biotechnology company’s stock worth $1,327,000 after acquiring an additional 5,543 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Ironwood Pharmaceuticals by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,577 shares of the biotechnology company’s stock worth $746,000 after acquiring an additional 4,993 shares in the last quarter. Kennedy Capital Management LLC increased its stake in Ironwood Pharmaceuticals by 10.1% in the 1st quarter. Kennedy Capital Management LLC now owns 116,543 shares of the biotechnology company’s stock worth $1,015,000 after purchasing an additional 10,645 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new position in Ironwood Pharmaceuticals in the 1st quarter worth about $113,000.

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.