Ironwood Pharmaceuticals (NASDAQ:IRWD) Director Alexander Denner Sells 6,730,800 Shares of Stock

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Director Alexander Denner sold 6,730,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $3.05, for a total transaction of $20,528,940.00. Following the sale, the director owned 9,188,635 shares in the company, valued at approximately $28,025,336.75. The trade was a 42.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ironwood Pharmaceuticals Price Performance

IRWD opened at $3.25 on Wednesday. The firm has a market cap of $528.71 million, a P/E ratio of 25.00 and a beta of 0.24. Ironwood Pharmaceuticals, Inc. has a 1-year low of $0.53 and a 1-year high of $5.78. The company has a 50 day simple moving average of $4.28 and a two-hundred day simple moving average of $3.04.

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

Institutional Trading of Ironwood Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC increased its holdings in shares of Ironwood Pharmaceuticals by 17.9% in the second quarter. Armistice Capital LLC now owns 16,150,000 shares of the biotechnology company’s stock worth $11,583,000 after purchasing an additional 2,450,000 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Ironwood Pharmaceuticals by 26.0% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 526,775 shares of the biotechnology company’s stock valued at $378,000 after buying an additional 108,822 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ironwood Pharmaceuticals by 48.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,206,948 shares of the biotechnology company’s stock valued at $1,583,000 after buying an additional 718,904 shares during the last quarter. Savant Capital LLC grew its holdings in Ironwood Pharmaceuticals by 134.2% during the 2nd quarter. Savant Capital LLC now owns 267,776 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 153,427 shares in the last quarter. Finally, State of Wyoming grew its holdings in Ironwood Pharmaceuticals by 76.2% during the 3rd quarter. State of Wyoming now owns 362,407 shares of the biotechnology company’s stock valued at $475,000 after buying an additional 156,763 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup raised 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 research note on Wednesday, February 25th. Craig Hallum upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating 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. 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 report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ironwood Pharmaceuticals has a consensus rating of “Hold” and an average target price of $4.93.

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.