Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Gap Down to $8.12

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.12, but opened at $6.80. Ironwood Pharmaceuticals shares last traded at $6.57, with a volume of 769,151 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IRWD. StockNews.com downgraded Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. Craig Hallum assumed coverage on shares of Ironwood Pharmaceuticals in a research note on Wednesday, January 17th. They set a “buy” rating and a $21.00 target price on the stock. Piper Sandler upped their target price on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Wells Fargo & Company decreased their price target on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.80.

Ironwood Pharmaceuticals Trading Down 16.6 %

The company has a market capitalization of $1.06 billion, a PE ratio of -1.01 and a beta of 0.57. The company has a fifty day simple moving average of $8.40 and a 200-day simple moving average of $10.58.

Insider Activity

In other news, CMO Michael Shetzline sold 38,618 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $588,538.32. Following the completion of the sale, the chief marketing officer now owns 340,484 shares of the company’s stock, valued at approximately $5,188,976.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Ironwood Pharmaceuticals news, Director Jon R. Duane acquired 6,920 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $8.70 per share, with a total value of $60,204.00. Following the transaction, the director now owns 121,028 shares of the company’s stock, valued at $1,052,943.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Michael Shetzline sold 38,618 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $15.24, for a total transaction of $588,538.32. Following the completion of the transaction, the chief marketing officer now directly owns 340,484 shares in the company, valued at approximately $5,188,976.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 273,008 shares of company stock valued at $4,160,642. 13.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter worth about $33,281,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Ironwood Pharmaceuticals during the third quarter worth about $22,903,000. Jupiter Asset Management Ltd. boosted its stake in shares of Ironwood Pharmaceuticals by 566.8% in the third quarter. Jupiter Asset Management Ltd. now owns 2,210,985 shares of the biotechnology company’s stock valued at $21,292,000 after purchasing an additional 1,879,401 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Ironwood Pharmaceuticals by 160.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 2,462,300 shares of the biotechnology company’s stock valued at $23,712,000 after purchasing an additional 1,518,500 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 16,033,545 shares of the biotechnology company’s stock valued at $183,424,000 after purchasing an additional 1,137,845 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.