Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Down 4.4% - Time to Sell?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) dropped 4.4% during mid-day trading on Friday . The stock traded as low as $3.49 and last traded at $3.51. Approximately 140,111 shares changed hands during trading, a decline of 95% from the average daily volume of 2,867,328 shares. The stock had previously closed at $3.67.

Analyst Ratings Changes

Several research analysts have weighed in on IRWD shares. Leerink Partners began coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, September 9th. They issued a "market perform" rating and a $5.00 price target on the stock. Wells Fargo & Company lowered their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, August 9th. Craig Hallum cut their price target on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a "buy" rating for the company in a report on Friday, August 9th. Capital One Financial downgraded Ironwood Pharmaceuticals from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Finally, StockNews.com downgraded Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $10.40.

Ironwood Pharmaceuticals Price Performance

The firm has a market capitalization of $563.30 million, a PE ratio of -117.33 and a beta of 0.47. The company has a 50-day moving average price of $4.12 and a 200 day moving average price of $5.19.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The company's revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 earnings per share. As a group, research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the business's stock in a transaction dated Monday, November 18th. The stock was 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Ironwood Pharmaceuticals by 21.8% during the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company's stock valued at $170,031,000 after acquiring an additional 3,487,821 shares during the last quarter. Armistice Capital LLC lifted its position in Ironwood Pharmaceuticals by 44.4% during the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company's stock valued at $50,856,000 after purchasing an additional 2,400,000 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Ironwood Pharmaceuticals by 26.6% in the 3rd quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company's stock worth $46,473,000 after buying an additional 2,372,183 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Ironwood Pharmaceuticals by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company's stock worth $55,889,000 after buying an additional 1,472,097 shares in the last quarter. Finally, Stonepine Capital Management LLC increased its holdings in shares of 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 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.