Ironwood Pharmaceuticals Inc. (IRWD) Sees Unusually-High Trading Volume
Shares of Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) saw strong trading volume on Thursday . 1,185,035 shares changed hands during mid-day trading, an increase of 5% from the previous session’s volume of 1,133,245 shares.The stock last traded at $13.56 and had previously closed at $13.40.
Several research analysts have commented on the stock. Wedbush restated a “neutral” rating and issued a $10.00 price objective on shares of Ironwood Pharmaceuticals in a report on Thursday, August 4th. Mizuho upped their price objective on shares of Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, May 10th. Cowen and Company restated a “buy” rating on shares of Ironwood Pharmaceuticals in a report on Thursday, May 26th. Zacks Investment Research lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, JP Morgan Cazenove restated an “overweight” rating and issued a $15.00 price objective on shares of Ironwood Pharmaceuticals in a report on Thursday, April 28th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $15.20.
The firm’s 50 day moving average price is $13.54 and its 200-day moving average price is $11.56. The stock’s market capitalization is $1.96 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.01. The company had revenue of $54.40 million for the quarter, compared to the consensus estimate of $54.49 million. During the same period in the previous year, the business posted ($0.34) earnings per share. Ironwood Pharmaceuticals’s revenue for the quarter was up 96.4% compared to the same quarter last year. Equities research analysts predict that Ironwood Pharmaceuticals Inc. will post ($0.76) earnings per share for the current year.
In related news, insider Halley E. Gilbert sold 20,275 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $12.19, for a total value of $247,152.25. Following the completion of the sale, the insider now directly owns 5,865 shares of the company’s stock, valued at $71,494.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence S. Olanoff sold 2,200 shares of the company’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $12.92, for a total transaction of $28,424.00. Following the completion of the sale, the director now directly owns 32,505 shares of the company’s stock, valued at $419,964.60. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Ironwood Pharmaceuticals stock. Rhumbline Advisers raised its position in Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,715 shares of the company’s stock after buying an additional 12,840 shares during the period. Rhumbline Advisers owned approximately 0.09% of Ironwood Pharmaceuticals worth $1,434,000 as of its most recent SEC filing.
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders.
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