Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Short Interest Update

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 8,570,000 shares, a decline of 21.8% from the October 31st total of 10,960,000 shares. Approximately 5.5% of the company’s stock are sold short. Based on an average trading volume of 1,630,000 shares, the days-to-cover ratio is currently 5.3 days.

Ironwood Pharmaceuticals Stock Down 4.1 %

IRWD opened at $3.52 on Friday. Ironwood Pharmaceuticals has a 52 week low of $3.26 and a 52 week high of $15.70. The business’s 50 day moving average is $4.12 and its two-hundred day moving average is $5.20. The firm has a market cap of $563.31 million, a price-to-earnings ratio of -117.33 and a beta of 0.47.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $91.22 million. During the same quarter last year, the company earned $0.12 EPS. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. Equities analysts expect that Ironwood Pharmaceuticals will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were 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. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently made changes to their positions in IRWD. Robeco Institutional Asset Management B.V. raised its stake 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 valued at $1,570,000 after acquiring an additional 353,624 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 26.6% in the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock valued at $46,473,000 after purchasing an additional 2,372,183 shares during the period. KBC Group NV raised its stake in shares of Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 3,198 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of Ironwood Pharmaceuticals by 20.6% during the second quarter. Hodges Capital Management Inc. now owns 1,041,000 shares of the biotechnology company’s stock worth $6,787,000 after purchasing an additional 177,500 shares during the period. Finally, Renaissance Technologies LLC grew its position in Ironwood Pharmaceuticals by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock valued at $55,889,000 after buying an additional 1,472,097 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IRWD shares. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Wells Fargo & Company cut 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 lowered 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. StockNews.com cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

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.