Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Sees Significant Increase in Short Interest

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 12,080,000 shares, an increase of 7.7% from the November 30th total of 11,220,000 shares. Based on an average daily trading volume, of 1,740,000 shares, the short-interest ratio is currently 6.9 days. Approximately 7.8% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IRWD. StockNews.com cut shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Leerink Partners began coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They set a "market perform" rating and a $5.00 target price for the company. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a "hold" rating in a report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $10.40.

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was 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 directly owns 309,572 shares in the company, valued at approximately $1,263,053.76. The trade was a 3.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.90% of the stock is owned by corporate insiders.

Institutional Trading of Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRWD. KBC Group NV grew its holdings in Ironwood Pharmaceuticals by 59.3% during the third 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 during the period. Wolverine Trading LLC acquired a new stake in Ironwood Pharmaceuticals during the 3rd quarter valued at $51,000. Diversified Trust Co acquired a new position in shares of Ironwood Pharmaceuticals in the third quarter valued at $52,000. Legacy Capital Group California Inc. bought a new position in shares of Ironwood Pharmaceuticals in the third quarter valued at about $59,000. Finally, First Dallas Securities Inc. bought a new stake in shares of Ironwood Pharmaceuticals during the 2nd quarter worth about $73,000.

Ironwood Pharmaceuticals Price Performance

IRWD stock traded up $0.05 during midday trading on Wednesday, hitting $4.43. The company's stock had a trading volume of 2,150,245 shares, compared to its average volume of 2,834,480. The company's fifty day moving average price is $4.01 and its 200 day moving average price is $4.81. Ironwood Pharmaceuticals has a twelve month low of $3.06 and a twelve month high of $15.70. The stock has a market capitalization of $708.92 million, a P/E ratio of -147.67 and a beta of 0.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $91.60 million during the quarter, compared to analyst estimates of $91.22 million. During the same period in the prior year, the firm posted $0.12 EPS. Ironwood Pharmaceuticals's revenue was down 19.4% compared to the same quarter last year. Equities analysts expect that Ironwood Pharmaceuticals will post 0.08 EPS for the current fiscal year.

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.