Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Down 5% - Here's Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report)'s stock price dropped 5% during mid-day trading on Thursday . The stock traded as low as $4.30 and last traded at $4.38. Approximately 123,974 shares changed hands during trading, a decline of 96% from the average daily volume of 2,846,078 shares. The stock had previously closed at $4.61.

Wall Street Analyst Weigh In

IRWD has been the subject of several recent analyst reports. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a "hold" rating in a research note on Monday, September 9th. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 12th. Finally, 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 for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $10.40.

Ironwood Pharmaceuticals Stock Down 0.4 %

The firm has a market cap of $734.53 million, a PE ratio of -153.00 and a beta of 0.41. The company's fifty day moving average price is $3.99 and its two-hundred day moving average price is $4.87.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released its quarterly earnings data 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). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business had revenue of $91.60 million during the quarter, compared to analysts' expectations of $91.22 million. During the same quarter in the previous year, the company posted $0.12 EPS. The company's revenue was down 19.4% compared to the same quarter last year. As a group, analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the business'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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in Ironwood Pharmaceuticals by 26.6% during the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company's stock worth $46,473,000 after acquiring an additional 2,372,183 shares during the last quarter. State Street Corp increased its stake in shares of Ironwood Pharmaceuticals by 7.3% during the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company's stock worth $40,870,000 after purchasing an additional 677,024 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Ironwood Pharmaceuticals by 20.7% during the 2nd 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. Armistice Capital LLC lifted its stake in Ironwood Pharmaceuticals by 44.4% in the 2nd quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company's stock valued at $50,856,000 after buying an additional 2,400,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Ironwood Pharmaceuticals by 23.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company's stock valued at $7,846,000 after buying an additional 364,841 shares during the last quarter.

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.