Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Down 8.7% – Time to Sell?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) traded down 8.7% on Friday . The stock traded as low as $4.14 and last traded at $4.18. 531,912 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 2,207,972 shares. The stock had previously closed at $4.58.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ironwood Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $10.40.

Ironwood Pharmaceuticals Trading Down 8.7 %

The company has a fifty day simple moving average of $4.06 and a two-hundred day simple moving average of $4.76. The company has a market cap of $668.92 million, a PE ratio of -139.33 and a beta of 0.34.

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). The firm had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share. On average, research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Ironwood Pharmaceuticals

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

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Ironwood Pharmaceuticals by 7.3% in the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock valued at $40,870,000 after purchasing an additional 677,024 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 364,841 shares during the period. FMR LLC grew its position in Ironwood Pharmaceuticals by 25.1% in the 3rd quarter. FMR LLC now owns 169,681 shares of the biotechnology company’s stock valued at $699,000 after buying an additional 34,089 shares during the last quarter. Weiss Asset Management LP acquired a new position in Ironwood Pharmaceuticals in the 3rd quarter valued at $893,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Ironwood Pharmaceuticals by 1,293.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 380,960 shares of the biotechnology company’s stock valued at $1,570,000 after buying an additional 353,624 shares during the period.

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.