Ironwood Pharmaceuticals Inc. (IRWD) Sees Large Volume Increase
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) shares saw an uptick in trading volume on Thursday . 1,185,035 shares traded 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.
A number of research firms have commented on IRWD. Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, April 20th. Mizuho raised their price target on shares of Ironwood Pharmaceuticals from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, July 15th. Barclays PLC raised their price target on shares of Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. JPMorgan Chase & Co. raised their price target on shares of Ironwood Pharmaceuticals from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Finally, Wedbush restated a “neutral” rating and issued a $10.00 price target on shares of Ironwood Pharmaceuticals in a report on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.20.
The firm’s 50-day moving average price is $13.53 and its 200-day moving average price is $11.53. The stock’s market cap is $1.98 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.01. During the same period in the prior year, the company earned ($0.34) EPS. The company had revenue of $54.40 million for the quarter, compared to the consensus estimate of $54.49 million. The firm’s revenue was up 96.4% compared to the same quarter last year. On average, equities research analysts predict that Ironwood Pharmaceuticals Inc. will post ($0.76) EPS for the current fiscal year.
In other Ironwood Pharmaceuticals news, insider Halley E. Gilbert sold 20,275 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 5,865 shares in the company, valued at approximately $71,494.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence S. Olanoff sold 2,200 shares of the company’s stock in a transaction on 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 transaction, the director now owns 32,505 shares of the company’s stock, valued at $419,964.60. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Ironwood Pharmaceuticals stock. Rhumbline Advisers increased its stake in Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) by 11.6% during the fourth quarter, according to its most recent Form 13F filing 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 at the end of the most recent quarter.
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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