Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Down 4.3% – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price was down 4.3% during mid-day trading on Wednesday . The company traded as low as $3.55 and last traded at $3.56. Approximately 61,270 shares changed hands during trading, a decline of 98% from the average daily volume of 2,827,905 shares. The stock had previously closed at $3.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IRWD shares. Leerink Partners began coverage on Ironwood Pharmaceuticals in a research note 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 note on Tuesday, November 12th. Finally, Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Ironwood Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Ironwood Pharmaceuticals Price Performance

The firm has a market capitalization of $566.51 million, a P/E ratio of -115.00 and a beta of 0.41. The firm’s fifty day moving average price is $4.05 and its 200-day moving average price is $5.04.

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

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the company’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 directly owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of large investors have recently made changes to their positions in IRWD. KBC Group NV grew its position in Ironwood Pharmaceuticals by 59.3% during the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 3,198 shares in the last quarter. CWM LLC lifted its stake in Ironwood Pharmaceuticals by 55.1% in the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 2,345 shares in the last quarter. Wolverine Trading LLC acquired a new stake in Ironwood Pharmaceuticals during the 3rd quarter worth about $51,000. Diversified Trust Co purchased a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at about $52,000. Finally, Legacy Capital Group California Inc. acquired a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at about $59,000.

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.