Ironwood Pharmaceuticals (NASDAQ:IRWD) Sets New 52-Week Low - Here's Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report)'s share price hit a new 52-week low on Friday . The stock traded as low as $3.06 and last traded at $3.18, with a volume of 225854 shares trading hands. The stock had previously closed at $3.34.

Analyst Ratings Changes

IRWD has been the subject of several research analyst reports. Leerink Partners initiated coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a "market perform" rating and a $5.00 price objective for the company. StockNews.com downgraded Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Wells Fargo & Company reduced their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Leerink Partnrs raised Ironwood Pharmaceuticals to a "hold" rating in a report on Monday, September 9th. Finally, Craig Hallum reduced their price objective on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Ironwood Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $10.40.

Ironwood Pharmaceuticals Trading Up 2.7 %

The stock has a market cap of $548.90 million, a price-to-earnings ratio of -114.33 and a beta of 0.41. The stock has a fifty day simple moving average of $4.06 and a 200-day simple moving average of $5.08.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) 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). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. During the same quarter in the prior year, the business posted $0.12 EPS. Ironwood Pharmaceuticals's revenue was down 19.4% compared to the same quarter last year. Sell-side analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the completion of the sale, the chief financial officer now directly owns 309,572 shares of the company's stock, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of IRWD. KBC Group NV increased its holdings in Ironwood Pharmaceuticals by 59.3% during the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company's stock valued at $35,000 after purchasing an additional 3,198 shares in the last quarter. CWM LLC increased its stake in shares of Ironwood Pharmaceuticals by 55.1% in the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company's stock valued at $43,000 after buying an additional 2,345 shares during the period. Wolverine Trading LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at $51,000. Diversified Trust Co acquired a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at $52,000. Finally, Legacy Capital Group California Inc. acquired a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at $59,000.

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.