Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) shares were down 8.7% during mid-day trading on Friday . The company traded as low as $4.14 and last traded at $4.18. Approximately 531,912 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 2,207,972 shares. The stock had previously closed at $4.58.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $10.40.
Read Our Latest Stock Analysis on Ironwood Pharmaceuticals
Ironwood Pharmaceuticals Price Performance
The stock has a fifty day moving average of $4.06 and a 200 day moving average of $4.75. The firm has a market capitalization of $633.71 million, a P/E ratio of -132.00 and a beta of 0.34.
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). The business had revenue of $91.60 million for 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Equities analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal year.
Insider Buying and Selling
In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the company's stock in a transaction dated Monday, November 18th. The shares were 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 represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.90% of the stock is currently owned by insiders.
Institutional Trading of Ironwood Pharmaceuticals
Several hedge funds and other institutional investors have recently modified their holdings of IRWD. State Street Corp grew 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 valued at $40,870,000 after buying an additional 677,024 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ironwood Pharmaceuticals by 23.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company's stock worth $7,846,000 after acquiring an additional 364,841 shares during the period. FMR LLC grew its position in shares of Ironwood Pharmaceuticals by 25.1% in the third quarter. FMR LLC now owns 169,681 shares of the biotechnology company's stock valued at $699,000 after purchasing an additional 34,089 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Ironwood Pharmaceuticals during the 3rd quarter valued at $893,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Ironwood Pharmaceuticals by 1,293.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 380,960 shares of the biotechnology company's stock worth $1,570,000 after purchasing an additional 353,624 shares in the last quarter.
About Ironwood Pharmaceuticals
(
Get Free Report)
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.
Featured Articles
Before you consider Ironwood Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ironwood Pharmaceuticals wasn't on the list.
While Ironwood Pharmaceuticals currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
