Short Interest in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Decreases By 30.8%

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 11,250,000 shares, a decline of 30.8% from the March 15th total of 16,250,000 shares. Currently, 7.2% of the company's shares are sold short. Based on an average daily volume of 3,230,000 shares, the days-to-cover ratio is currently 3.5 days.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD stock traded up $0.09 during trading hours on Wednesday, hitting $0.81. The company had a trading volume of 731,330 shares, compared to its average volume of 2,556,865. The company's fifty day moving average is $1.39 and its 200 day moving average is $2.96. Ironwood Pharmaceuticals has a fifty-two week low of $0.59 and a fifty-two week high of $8.45. The stock has a market capitalization of $131.73 million, a PE ratio of -27.14 and a beta of 0.30.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last announced its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business had revenue of $90.55 million for the quarter, compared to analysts' expectations of $93.85 million. Equities analysts forecast that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company reiterated an "equal weight" rating and issued a $1.00 target price (down from $7.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday, April 15th. Jefferies Financial Group reaffirmed a "hold" rating and set a $0.70 target price (down from $8.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday, April 15th. Citizens Jmp cut shares of Ironwood Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Monday, April 14th. Leerink Partners cut their target price on shares of Ironwood Pharmaceuticals from $3.00 to $1.00 and set a "market perform" rating for the company in a research note on Monday, April 14th. Finally, JMP Securities cut their target price on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a "market outperform" rating for the company in a research note on Thursday, January 30th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $4.78.

Insider Activity

In other Ironwood Pharmaceuticals news, CMO Michael Shetzline sold 41,269 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $72,633.44. Following the completion of the transaction, the chief marketing officer now directly owns 554,007 shares in the company, valued at approximately $975,052.32. The trade was a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas A. Mccourt sold 139,064 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $244,752.64. Following the completion of the transaction, the chief executive officer now owns 1,160,634 shares of the company's stock, valued at $2,042,715.84. This represents a 10.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,381 shares of company stock valued at $338,591. 12.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ironwood Pharmaceuticals during the 4th quarter worth about $36,000. Journey Strategic Wealth LLC purchased a new stake in Ironwood Pharmaceuticals during the 4th quarter valued at approximately $45,000. Catalyst Funds Management Pty Ltd purchased a new stake in Ironwood Pharmaceuticals during the 4th quarter valued at approximately $47,000. Envestnet Asset Management Inc. acquired a new position in Ironwood Pharmaceuticals during the 4th quarter worth approximately $50,000. Finally, Xponance Inc. acquired a new position in Ironwood Pharmaceuticals during the 4th quarter worth approximately $50,000.

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.