Ironwood Pharmaceuticals Inc. (IRWD) Sees Strong Trading Volume
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) saw unusually-strong trading volume on Tuesday . Approximately 1,721,018 shares were traded during trading, an increase of 44% from the previous session’s volume of 1,193,410 shares.The stock last traded at $12.91 and had previously closed at $13.22.
Several equities research analysts have recently issued reports on IRWD shares. Mizuho reissued a “buy” rating and set a $15.00 target price on shares of Ironwood Pharmaceuticals in a research note on Thursday, April 28th. Cowen and Company reissued a “buy” rating on shares of Ironwood Pharmaceuticals in a research note on Sunday, April 17th. Morgan Stanley reissued a “hold” rating on shares of Ironwood Pharmaceuticals in a research note on Tuesday, April 26th. Zacks Investment Research raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, April 20th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $10.00 price target (up from $9.00) on shares of Ironwood Pharmaceuticals in a research note on Thursday, April 28th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $13.50.
The firm’s market cap is $1.85 billion. The firm has a 50-day moving average price of $12.81 and a 200-day moving average price of $10.93.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.06. During the same period last year, the company posted ($0.24) EPS. The company had revenue of $66 million for the quarter, compared to analyst estimates of $52.97 million. The business’s revenue for the quarter was up 128.4% on a year-over-year basis. On average, equities research analysts predict that Ironwood Pharmaceuticals Inc. will post ($0.60) earnings per share for the current fiscal year.
In other news, Director Lawrence S. Olanoff sold 2,200 shares of the stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $12.92, for a total value of $28,424.00. Following the completion of the sale, the director now owns 32,505 shares of the company’s stock, valued at $419,964.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Halley E. Gilbert sold 20,275 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $12.19, for a total transaction 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 approximately $71,494.35. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. Nationwide Fund Advisors raised its stake in Ironwood Pharmaceuticals by 1.7% in the fourth quarter. Nationwide Fund Advisors now owns 112,315 shares of the company’s stock valued at $1,302,000 after buying an additional 1,851 shares during the last quarter. California State Teachers Retirement System raised its stake in Ironwood Pharmaceuticals by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 233,338 shares of the company’s stock valued at $2,704,000 after buying an additional 3,727 shares during the last quarter. ProShare Advisors LLC raised its stake in Ironwood Pharmaceuticals by 10.9% in the fourth quarter. ProShare Advisors LLC now owns 120,454 shares of the company’s stock valued at $1,396,000 after buying an additional 11,825 shares during the last quarter. Rhumbline Advisers raised its stake in Ironwood Pharmaceuticals by 11.6% in the fourth quarter. Rhumbline Advisers now owns 123,715 shares of the company’s stock valued at $1,434,000 after buying an additional 12,840 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at about $1,939,000.
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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