Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Gap Down to $8.12

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) gapped down before the market opened on Thursday . The stock had previously closed at $8.12, but opened at $6.80. Ironwood Pharmaceuticals shares last traded at $6.57, with a volume of 769,151 shares.

Analyst Ratings Changes

IRWD has been the subject of several analyst reports. Piper Sandler upped their target price on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, April 6th. Craig Hallum assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.80.

Ironwood Pharmaceuticals Stock Performance

The company has a market capitalization of $1.06 billion, a PE ratio of -1.01 and a beta of 0.57. The company has a 50 day moving average price of $8.40 and a 200 day moving average price of $10.58.

Insider Buying and Selling at Ironwood Pharmaceuticals

In related news, SVP Andrew Davis sold 9,846 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $150,053.04. Following the completion of the transaction, the senior vice president now directly owns 208,324 shares in the company, valued at $3,174,857.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ironwood Pharmaceuticals news, CMO Michael Shetzline sold 38,618 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $15.24, for a total transaction of $588,538.32. Following the completion of the sale, the chief marketing officer now owns 340,484 shares in the company, valued at $5,188,976.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew Davis sold 9,846 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $150,053.04. Following the completion of the transaction, the senior vice president now owns 208,324 shares in the company, valued at $3,174,857.76. The disclosure for this sale can be found here. Insiders have sold 273,008 shares of company stock worth $4,160,642 in the last ninety days. 13.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of institutional investors have recently modified their holdings of IRWD. Signaturefd LLC increased its position in Ironwood Pharmaceuticals by 61.4% in the fourth quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock worth $25,000 after buying an additional 822 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 331.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 1,900 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Ironwood Pharmaceuticals by 96.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,997 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,961 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Ironwood Pharmaceuticals by 152.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 2,645 shares during the period. Finally, Headlands Technologies LLC grew its position in Ironwood Pharmaceuticals by 396.5% in the 3rd quarter. Headlands Technologies LLC now owns 6,737 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 5,380 shares during 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.