Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading 6.4% Higher - Still a Buy?

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) traded up 6.4% on Monday . The company traded as high as $3.95 and last traded at $3.95. 96,933 shares traded hands during trading, a decline of 94% from the average session volume of 1,741,280 shares. The stock had previously closed at $3.71.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com downgraded Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Craig Hallum reduced their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Three 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $10.00.

Ironwood Pharmaceuticals Trading Up 2.4 %

The company has a market cap of $608.11 million, a PE ratio of -126.67 and a beta of 0.34. The firm has a 50 day moving average of $3.90 and a two-hundred day moving average of $4.54.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released its earnings results 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 company had revenue of $91.60 million during the quarter, compared to analysts' expectations of $91.22 million. During the same period in the prior year, the company posted $0.12 earnings per share. The company's revenue was down 19.4% on a year-over-year basis. On average, research analysts forecast 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 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 of the company's stock, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of hedge funds have recently bought and sold shares of IRWD. Dimensional Fund Advisors LP grew its stake in shares of Ironwood Pharmaceuticals by 48.6% in the second quarter. Dimensional Fund Advisors LP now owns 213,619 shares of the biotechnology company's stock worth $1,393,000 after acquiring an additional 69,848 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Ironwood Pharmaceuticals by 60.2% in the 2nd quarter. Hsbc Holdings PLC now owns 25,923 shares of the biotechnology company's stock worth $167,000 after buying an additional 9,740 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Ironwood Pharmaceuticals by 9.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 307,786 shares of the biotechnology company's stock worth $2,007,000 after buying an additional 26,168 shares during the last quarter. AQR Capital Management LLC boosted its position in Ironwood Pharmaceuticals by 45.7% in the second quarter. AQR Capital Management LLC now owns 684,578 shares of the biotechnology company's stock worth $4,463,000 after purchasing an additional 214,836 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its position in Ironwood Pharmaceuticals by 16.5% in the second quarter. Dark Forest Capital Management LP now owns 60,386 shares of the biotechnology company's stock worth $394,000 after purchasing an additional 8,557 shares during the last quarter.

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.