Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Up 5.1% – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price was up 5.1% during mid-day trading on Tuesday . The stock traded as high as $4.51 and last traded at $4.51. Approximately 282,032 shares traded hands during trading, a decline of 91% from the average daily volume of 3,092,923 shares. The stock had previously closed at $4.29.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IRWD shares. Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price for the company. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $12.00 to $4.00 in a research note on Thursday, August 8th. Craig Hallum decreased their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ironwood Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $12.17.

Ironwood Pharmaceuticals Price Performance

The stock has a market capitalization of $687.16 million, a price-to-earnings ratio of -0.63 and a beta of 0.48. The firm has a 50 day simple moving average of $4.51 and a 200-day simple moving average of $6.08.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $4.27, for a total value of $42,315.70. Following the completion of the transaction, the insider now owns 284,661 shares in the company, valued at approximately $1,215,502.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.90% of the company’s stock.

Institutional Trading of Ironwood Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in IRWD. Vanguard Group Inc. grew its holdings in Ironwood Pharmaceuticals by 21.8% during the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock worth $170,031,000 after acquiring an additional 3,487,821 shares during the last quarter. Armistice Capital LLC lifted its position in shares of Ironwood Pharmaceuticals by 44.4% during the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock worth $50,856,000 after purchasing an additional 2,400,000 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Ironwood Pharmaceuticals by 23.6% during the second quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company’s stock valued at $58,078,000 after purchasing an additional 1,701,452 shares during the last quarter. Kynam Capital Management LP acquired a new stake in shares of Ironwood Pharmaceuticals in the first quarter valued at approximately $14,154,000. Finally, Renaissance Technologies LLC raised its position in Ironwood Pharmaceuticals by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock worth $55,889,000 after purchasing an additional 1,472,097 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.