Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Down 8.7% – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) dropped 8.7% during mid-day trading on Friday . The company traded as low as $4.14 and last traded at $4.18. Approximately 531,912 shares changed hands during trading, a decline of 76% from the average daily volume of 2,207,972 shares. The stock had previously closed at $4.58.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Ironwood Pharmaceuticals Price Performance

The company has a market capitalization of $633.71 million, a price-to-earnings ratio of -132.00 and a beta of 0.34. The firm has a 50-day moving average price of $4.06 and a two-hundred day moving average price of $4.74.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm had revenue of $91.60 million for the quarter, compared to analyst estimates of $91.22 million. During the same period last year, the company earned $0.12 EPS. The company’s revenue was down 19.4% compared to the same quarter last year. On average, equities analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current year.

Insider Activity at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in IRWD. Rhumbline Advisers lifted its stake in Ironwood Pharmaceuticals by 0.7% in the second quarter. Rhumbline Advisers now owns 365,701 shares of the biotechnology company’s stock valued at $2,384,000 after acquiring an additional 2,577 shares during the last quarter. KBC Group NV grew its holdings in Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 3,198 shares during the period. Massachusetts Financial Services Co. MA increased its position in Ironwood Pharmaceuticals by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 101,879 shares of the biotechnology company’s stock worth $664,000 after buying an additional 3,419 shares during the last quarter. Creative Planning increased its position in Ironwood Pharmaceuticals by 12.7% during the third quarter. Creative Planning now owns 42,151 shares of the biotechnology company’s stock worth $174,000 after buying an additional 4,749 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Ironwood Pharmaceuticals by 9.6% in the second quarter. Daiwa Securities Group Inc. now owns 55,770 shares of the biotechnology company’s stock valued at $364,000 after buying an additional 4,900 shares during the period.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.