Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Down 4.1% - Here's Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) was down 4.1% on Thursday . The company traded as low as $4.22 and last traded at $4.25. Approximately 224,714 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 2,834,480 shares. The stock had previously closed at $4.43.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IRWD. Leerink Partnrs raised Ironwood Pharmaceuticals to a "hold" rating in a research note on Monday, September 9th. Leerink Partners started coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a "market perform" rating and a $5.00 target price on the stock. Finally, StockNews.com cut shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $10.40.

Ironwood Pharmaceuticals Price Performance

The company has a market cap of $692.92 million, a P/E ratio of -144.33 and a beta of 0.41. The firm's 50-day moving average is $4.02 and its two-hundred day moving average is $4.81.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last announced its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business had revenue of $91.60 million for the quarter, compared to analysts' expectations of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The firm's quarterly revenue was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. As a group, sell-side analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IRWD. Armistice Capital LLC boosted its holdings in Ironwood Pharmaceuticals by 44.4% during the 2nd quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company's stock valued at $50,856,000 after acquiring an additional 2,400,000 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 26.6% during the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company's stock valued at $46,473,000 after purchasing an additional 2,372,183 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Ironwood Pharmaceuticals by 20.7% in the second 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. Stonepine Capital Management LLC increased its stake in Ironwood Pharmaceuticals by 1,982.8% in the 3rd quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company's stock worth $4,120,000 after buying an additional 951,988 shares during the period. Finally, State Street Corp increased its stake in Ironwood Pharmaceuticals by 7.3% in the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company's stock worth $40,870,000 after buying an additional 677,024 shares during the period.

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.