Traders Purchase Large Volume of Put Options on Ironwood Pharmaceuticals (IRWD)
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was the target of some unusual options trading activity on Thursday. Investors acquired 1,505 put options on the company. This is an increase of Infinity compared to the average volume of 0 put options.
Hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the second quarter worth approximately $1,472,000. Oppenheimer Asset Management Inc. raised its stake in shares of Ironwood Pharmaceuticals by 592.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 17,878 shares of the biotechnology company’s stock worth $338,000 after acquiring an additional 15,295 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Ironwood Pharmaceuticals by 281.9% during the second quarter. Russell Investments Group Ltd. now owns 101,676 shares of the biotechnology company’s stock worth $1,920,000 after acquiring an additional 75,055 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Ironwood Pharmaceuticals by 3.7% during the first quarter. Parametric Portfolio Associates LLC now owns 80,693 shares of the biotechnology company’s stock worth $1,377,000 after acquiring an additional 2,913 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its stake in shares of Ironwood Pharmaceuticals by 148.4% during the second quarter. State of Wisconsin Investment Board now owns 621,000 shares of the biotechnology company’s stock worth $11,724,000 after acquiring an additional 371,000 shares in the last quarter. 98.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on IRWD shares. Mizuho reaffirmed a “buy” rating and issued a $22.00 target price on shares of Ironwood Pharmaceuticals in a research note on Sunday, July 23rd. Cowen and Company reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Ironwood Pharmaceuticals in a research note on Sunday, July 23rd. Wells Fargo & Company set a $19.00 target price on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, July 22nd. BidaskClub downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, ValuEngine downgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Ironwood Pharmaceuticals presently has an average rating of “Hold” and an average target price of $18.29.
Ironwood Pharmaceuticals (IRWD) opened at $15.51 on Friday. Ironwood Pharmaceuticals has a one year low of $13.43 and a one year high of $19.94. The company has a current ratio of 4.87, a quick ratio of 4.86 and a debt-to-equity ratio of -22.31.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.07. The firm had revenue of $86.80 million for the quarter, compared to the consensus estimate of $73.59 million. Ironwood Pharmaceuticals had a negative net margin of 48.89% and a negative return on equity of 645.22%. The business’s revenue was up 31.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.18) earnings per share. equities research analysts expect that Ironwood Pharmaceuticals will post -1.12 earnings per share for the current year.
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About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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