Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Down 7.3% – Here’s Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price traded down 7.3% on Tuesday . The stock traded as low as $4.43 and last traded at $4.43. 369,929 shares changed hands during trading, a decline of 87% from the average session volume of 2,929,271 shares. The stock had previously closed at $4.78.

Analyst Ratings Changes

A number of brokerages recently weighed in on IRWD. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company cut their price target on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Capital One Financial lowered shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Craig Hallum lowered their price objective 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, Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ironwood Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Ironwood Pharmaceuticals Trading Down 8.1 %

The company’s 50-day moving average is $4.32 and its 200-day moving average is $5.55. The firm has a market cap of $702.06 million, a price-to-earnings ratio of -147.67 and a beta of 0.47.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results 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 company had revenue of $91.60 million during 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 company’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 earnings per share. Equities research analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. KBC Group NV increased its stake 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 buying an additional 3,198 shares in the last quarter. CWM LLC boosted its holdings in Ironwood Pharmaceuticals by 55.1% during the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 2,345 shares during the last quarter. Diversified Trust Co bought a new stake in Ironwood Pharmaceuticals during the 3rd quarter worth approximately $52,000. Legacy Capital Group California Inc. bought a new position in Ironwood Pharmaceuticals during the third quarter worth about $59,000. Finally, GAMMA Investing LLC grew its stake in shares of Ironwood Pharmaceuticals by 344.1% during the 2nd quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 8,156 shares during the period.

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.