Ironwood Pharmaceuticals (NASDAQ:IRWD) Director Julie Mchugh Sells 21,571 Shares

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Director Julie Mchugh sold 21,571 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.73, for a total value of $80,459.83. Following the completion of the sale, the director directly owned 250,749 shares of the company’s stock, valued at $935,293.77. The trade was a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Ironwood Pharmaceuticals Stock Down 3.8%

IRWD stock traded down $0.14 during trading on Wednesday, hitting $3.52. The company had a trading volume of 1,628,113 shares, compared to its average volume of 3,515,933. The firm has a market cap of $573.97 million, a PE ratio of 5.87 and a beta of 0.25. Ironwood Pharmaceuticals, Inc. has a 1-year low of $0.62 and a 1-year high of $5.78. The firm has a 50-day moving average price of $3.83 and a 200-day moving average price of $3.88.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). The company had revenue of $106.51 million during the quarter, compared to analyst estimates of $92.11 million. Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. Sell-side analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current year.

Institutional Trading of Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of Ironwood Pharmaceuticals by 248.3% during the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock worth $15,321,000 after buying an additional 8,337,672 shares during the last quarter. Millennium Management LLC grew its stake in shares of Ironwood Pharmaceuticals by 186.6% during the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after acquiring an additional 4,140,439 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Ironwood Pharmaceuticals by 144.3% during the second quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock valued at $4,422,000 after acquiring an additional 3,641,762 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ironwood Pharmaceuticals by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,975,939 shares of the biotechnology company’s stock valued at $16,769,000 after acquiring an additional 58,603 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Ironwood Pharmaceuticals by 40.7% during the fourth quarter. Marshall Wace LLP now owns 4,424,002 shares of the biotechnology company’s stock worth $14,909,000 after purchasing an additional 1,279,863 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IRWD shares. Citizens Jmp upped 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. Wall Street Zen upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Sunday, May 17th. Zacks Research cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, April 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.70 target price on shares of Ironwood Pharmaceuticals in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.23.

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.