Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Short Interest Up 15.8% in February

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 12,917,285 shares, a growth of 15.8% from the February 12th total of 11,159,224 shares. Currently, 9.1% of the shares of the company are sold short. Based on an average daily trading volume, of 3,989,249 shares, the days-to-cover ratio is currently 3.2 days. Based on an average daily trading volume, of 3,989,249 shares, the days-to-cover ratio is currently 3.2 days. Currently, 9.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IRWD shares. Wall Street Zen cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, December 29th. Citigroup raised shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, January 5th. Zacks Research lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Wells Fargo & Company increased their price objective on Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ironwood Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $4.93.

Ironwood Pharmaceuticals Stock Down 3.6%

Shares of NASDAQ:IRWD opened at $3.25 on Wednesday. The firm has a market capitalization of $528.71 million, a PE ratio of 25.00 and a beta of 0.24. Ironwood Pharmaceuticals has a twelve month low of $0.53 and a twelve month high of $5.78. The company has a 50-day moving average price of $4.28 and a two-hundred day moving average price of $3.04.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $47.71 million during the quarter, compared to the consensus estimate of $86.10 million. Ironwood Pharmaceuticals had a net margin of 8.11% and a negative return on equity of 13.72%. Analysts anticipate that Ironwood Pharmaceuticals will post 0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Alexander J. Denner sold 6,730,800 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $3.05, for a total transaction of $20,528,940.00. Following the completion of the sale, the director owned 9,188,635 shares in the company, valued at approximately $28,025,336.75. This trade represents a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 535.8% in the first quarter. AQR Capital Management LLC now owns 2,523,875 shares of the biotechnology company’s stock worth $3,710,000 after acquiring an additional 2,126,889 shares during the period. Millennium Management LLC raised its stake in shares of Ironwood Pharmaceuticals by 186.6% during the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after purchasing an additional 4,140,439 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ironwood Pharmaceuticals during the 1st quarter valued at $57,000. Goldman Sachs Group Inc. lifted its holdings in Ironwood Pharmaceuticals by 72.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,575,416 shares of the biotechnology company’s stock worth $2,316,000 after purchasing an additional 660,144 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Ironwood Pharmaceuticals by 740.5% during the 1st quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock worth $5,160,000 after purchasing an additional 3,092,475 shares in the last quarter.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.