Ironwood Pharmaceuticals (IRWD) Shares Gap Down to $11.92

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) gapped down prior to trading on Thursday . The stock had previously closed at $11.52, but opened at $11.92. Ironwood Pharmaceuticals shares last traded at $12.16, with a volume of 114669 shares.

IRWD has been the subject of a number of analyst reports. HC Wainwright set a $13.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “sell” rating in a research note on Monday, September 17th. Wells Fargo & Co set a $23.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 8th. BidaskClub cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Cowen restated a “market perform” rating on shares of Ironwood Pharmaceuticals in a research note on Wednesday, July 18th. Finally, Morgan Stanley set a $11.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “sell” rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $17.35.

The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -12.77 and a beta of 1.33.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.24). The company had revenue of $68.69 million for the quarter, compared to analysts’ expectations of $93.48 million. Ironwood Pharmaceuticals’s revenue was down 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.18) EPS. As a group, equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.75 earnings per share for the current fiscal year.

In related news, insider Mark G. Currie sold 116,651 shares of the company’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $17.53, for a total transaction of $2,044,892.03. Following the completion of the transaction, the insider now directly owns 70,680 shares in the company, valued at approximately $1,239,020.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Julie Mchugh sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $19.10, for a total transaction of $28,650.00. Following the transaction, the director now owns 91,131 shares of the company’s stock, valued at $1,740,602.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 248,339 shares of company stock valued at $4,475,466. Corporate insiders own 7.63% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Trustcore Financial Services LLC acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at $1,917,000. Fosun International Ltd acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at $6,363,000. PNC Financial Services Group Inc. raised its stake in Ironwood Pharmaceuticals by 584.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 116,489 shares of the biotechnology company’s stock valued at $2,152,000 after purchasing an additional 99,476 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Ironwood Pharmaceuticals by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 626,367 shares of the biotechnology company’s stock valued at $11,564,000 after purchasing an additional 10,717 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at $249,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This story was first published by Transcript Daily and is the property of of Transcript Daily. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://transcriptdaily.com/2018/11/10/ironwood-pharmaceuticals-irwd-shares-gap-down-to-11-92.html.

Ironwood Pharmaceuticals Company Profile (NASDAQ:IRWD)

Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.

See Also: Investing strategies using the yield curve

Receive News & Ratings for Ironwood Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply