Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Up 8.1% – Here’s What Happened

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) shot up 8.1% on Tuesday . The stock traded as high as $4.86 and last traded at $4.8650. 894,014 shares changed hands during trading, a decline of 85% from the average session volume of 5,780,666 shares. The stock had previously closed at $4.50.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Citizens Jmp raised Ironwood Pharmaceuticals from a “market perform” rating to a “market outperform” rating and set a $8.00 target price for the company in a research report on Monday, January 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, December 29th. Wells Fargo & Company lifted their target price on Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Craig Hallum upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. Finally, Citigroup upgraded shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.68.

Ironwood Pharmaceuticals Price Performance

The stock has a market cap of $777.61 million, a price-to-earnings ratio of 29.88 and a beta of 0.17. The business has a fifty day moving average of $4.19 and a 200 day moving average of $2.65.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC increased its position in Ironwood Pharmaceuticals by 9.6% during the fourth quarter. ProShare Advisors LLC now owns 36,315 shares of the biotechnology company’s stock worth $122,000 after buying an additional 3,170 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Ironwood Pharmaceuticals by 21.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 3,406 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Ironwood Pharmaceuticals by 11.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 67,888 shares of the biotechnology company’s stock worth $229,000 after acquiring an additional 7,120 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Ironwood Pharmaceuticals by 17.4% during the 3rd quarter. Merit Financial Group LLC now owns 48,879 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 7,232 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its stake in shares of Ironwood Pharmaceuticals by 14.0% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 59,617 shares of the biotechnology company’s stock valued at $201,000 after acquiring an additional 7,322 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.