Ironwood Pharmaceuticals (NASDAQ:IRWD) Sees Large Volume Increase – Here’s Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw an uptick in trading volume on Tuesday . 8,104,427 shares were traded during trading, an increase of 65% from the previous session’s volume of 4,902,642 shares.The stock last traded at $3.2450 and had previously closed at $3.37.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IRWD shares. Wells Fargo & Company raised their target price on shares of Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Wall Street Zen cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating and issued a $3.70 price target on shares of Ironwood Pharmaceuticals in a report on Thursday, February 26th. Finally, Citizens Jmp boosted their price target on Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.93.

Ironwood Pharmaceuticals Stock Performance

The company has a 50 day moving average of $4.30 and a 200 day moving average of $3.03. The stock has a market capitalization of $530.66 million, a price-to-earnings ratio of 25.19 and a beta of 0.24.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its 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). Ironwood Pharmaceuticals had a negative return on equity of 13.72% and a net margin of 8.11%.The business had revenue of $47.71 million for the quarter, compared to analyst estimates of $86.10 million. On average, equities analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

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