Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Up 6.4% – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price rose 6.4% during trading on Monday . The stock traded as high as $3.95 and last traded at $3.95. Approximately 96,933 shares traded hands during trading, a decline of 94% from the average daily volume of 1,741,280 shares. The stock had previously closed at $3.71.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IRWD shares. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Craig Hallum dropped their price target on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Ironwood Pharmaceuticals Price Performance

The business’s 50 day moving average is $3.89 and its 200-day moving average is $4.52.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). The company had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 EPS. On average, analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current year.

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s 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 completion of the sale, the chief financial officer now owns 309,572 shares of the company’s stock, valued at $1,263,053.76. This represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several institutional investors have recently made changes to their positions in IRWD. Pacer Advisors Inc. boosted its position in Ironwood Pharmaceuticals by 4.0% during the 4th quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock valued at $51,967,000 after purchasing an additional 450,949 shares during the period. State Street Corp boosted its holdings in shares of Ironwood Pharmaceuticals by 7.3% during the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock valued at $40,870,000 after acquiring an additional 677,024 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Ironwood Pharmaceuticals by 23.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock worth $7,846,000 after acquiring an additional 364,841 shares during the last quarter. Stonepine Capital Management LLC increased its holdings in shares of Ironwood Pharmaceuticals by 1,982.8% in the 3rd quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $4,120,000 after acquiring an additional 951,988 shares during the period. Finally, AQR Capital Management LLC lifted its position in Ironwood Pharmaceuticals by 45.7% in the 2nd quarter. AQR Capital Management LLC now owns 684,578 shares of the biotechnology company’s stock valued at $4,463,000 after purchasing an additional 214,836 shares during the last quarter.

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.