Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Down 6.2%

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) traded down 6.2% during mid-day trading on Thursday . The company traded as low as $4.66 and last traded at $4.69. 1,094,803 shares were traded during trading, a decline of 68% from the average session volume of 3,405,104 shares. The stock had previously closed at $5.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IRWD shares. Wells Fargo & Company cut their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. StockNews.com raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Capital One Financial cut shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $12.00 to $4.00 in a research report on Thursday, August 8th. Finally, Craig Hallum dropped their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Ironwood Pharmaceuticals Stock Performance

The firm has a fifty day moving average of $5.97 and a 200 day moving average of $7.96. The firm has a market capitalization of $779.51 million, a PE ratio of -0.73 and a beta of 0.52.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, insider Minardo John sold 9,910 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $4.27, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Catherine Moukheibir sold 44,426 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $6.36, for a total value of $282,549.36. Following the transaction, the director now owns 84,207 shares in the company, valued at $535,556.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Minardo John sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $4.27, for a total value of $42,315.70. Following the sale, the insider now owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. The disclosure for this sale can be found here. Insiders sold 77,102 shares of company stock valued at $468,063 over the last 90 days. 12.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in IRWD. Signaturefd LLC increased its stake in shares of Ironwood Pharmaceuticals by 61.4% in the fourth quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock worth $25,000 after buying an additional 822 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Ironwood Pharmaceuticals by 331.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 1,900 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Ironwood Pharmaceuticals by 152.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 2,645 shares during the last quarter. CWM LLC raised its stake in shares of Ironwood Pharmaceuticals by 55.1% in the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 2,345 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Ironwood Pharmaceuticals by 68.8% during the fourth quarter. Quadrant Capital Group LLC now owns 8,578 shares of the biotechnology company’s stock worth $98,000 after purchasing an additional 3,497 shares during the last quarter.

About Ironwood Pharmaceuticals

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.