Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading 9.1% Higher - Here's What Happened

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report)'s stock price shot up 9.1% during mid-day trading on Monday . The stock traded as high as $4.32 and last traded at $4.32. 96,469 shares changed hands during trading, a decline of 97% from the average session volume of 2,999,028 shares. The stock had previously closed at $3.96.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IRWD. Wells Fargo & Company cut their price target on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an "overweight" rating for the company in a research note 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 research note on Friday, August 9th. Leerink Partners began coverage on Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a "market perform" rating and a $5.00 price objective for the company. Capital One Financial cut Ironwood Pharmaceuticals from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a "hold" rating in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.17.

Ironwood Pharmaceuticals Trading Up 4.8 %

The firm has a market capitalization of $649.60 million, a price-to-earnings ratio of -0.63 and a beta of 0.48. The firm has a 50 day moving average price of $4.42 and a two-hundred day moving average price of $5.82.

Insider Activity

In other news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $4.27, for a total value of $42,315.70. Following the transaction, the insider now directly owns 284,661 shares of the company's stock, valued at $1,215,502.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 12.90% of the company's stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in Ironwood Pharmaceuticals by 152.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company's stock worth $50,000 after acquiring an additional 2,645 shares in the last quarter. CWM LLC lifted its position in Ironwood Pharmaceuticals by 55.1% during the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company's stock worth $43,000 after acquiring an additional 2,345 shares in the last quarter. SG Americas Securities LLC acquired a new position in Ironwood Pharmaceuticals during the 1st quarter worth approximately $91,000. GAMMA Investing LLC lifted its position in Ironwood Pharmaceuticals by 344.1% during the 2nd quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company's stock worth $69,000 after acquiring an additional 8,156 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its position in Ironwood Pharmaceuticals by 517.4% during the 1st quarter. EntryPoint Capital LLC now owns 10,589 shares of the biotechnology company's stock worth $92,000 after acquiring an additional 8,874 shares in 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.