Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Gap Down – Here’s Why

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) gapped down prior to trading on Monday . The stock had previously closed at $4.32, but opened at $4.17. Ironwood Pharmaceuticals shares last traded at $4.1440, with a volume of 567,461 shares.

Wall Street Analyst Weigh In

IRWD has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Ironwood Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Wall Street Zen cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Ironwood Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $6.23.

Ironwood Pharmaceuticals Price Performance

The company has a market capitalization of $701.16 million, a PE ratio of 5.58 and a beta of 0.20. The stock’s 50 day simple moving average is $3.93 and its 200-day simple moving average is $3.95.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Ironwood Pharmaceuticals had a net margin of 33.36% and a negative return on equity of 58.38%. The business had revenue of $113.04 million during the quarter, compared to analyst estimates of $114.84 million. On average, equities analysts predict that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 21,571 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.73, for a total value of $80,459.83. Following the completion of the transaction, the director owned 250,749 shares in the company, valued at $935,293.77. The trade was a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ronald Silver sold 127,890 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $4.52, for a total value of $578,062.80. Following the sale, the insider directly owned 313,680 shares in the company, valued at $1,417,833.60. This represents a 28.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 9.30% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in shares of Ironwood Pharmaceuticals in the 2nd quarter valued at about $2,142,000. Pacer Advisors Inc. purchased a new stake in shares of Ironwood Pharmaceuticals during the first quarter worth approximately $3,982,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Ironwood Pharmaceuticals during the first quarter worth approximately $976,000. Bull Harbor Capital LLC acquired a new stake in Ironwood Pharmaceuticals in the first quarter valued at approximately $48,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Ironwood Pharmaceuticals by 48.7% in the first quarter. EverSource Wealth Advisors LLC now owns 20,336 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 6,656 shares in the last quarter.

Ironwood Pharmaceuticals Company Profile

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.