Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Up 8.4% – Here’s Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was up 8.4% on Wednesday . The company traded as high as $5.00 and last traded at $4.9650. Approximately 999,791 shares traded hands during trading, a decline of 90% from the average daily volume of 10,198,263 shares. The stock had previously closed at $4.58.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Zacks Research upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, December 29th. Citigroup raised shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, January 5th. Wells Fargo & Company increased their target price on shares of Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Finally, Citizens Jmp upgraded shares of Ironwood Pharmaceuticals from a “market perform” rating to a “market outperform” rating and set a $8.00 target price on the stock in a research report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ironwood Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $6.12.

Ironwood Pharmaceuticals Stock Up 12.8%

The business has a fifty day moving average of $3.65 and a 200 day moving average of $2.11. The company has a market cap of $840.40 million, a P/E ratio of 32.35 and a beta of 0.18.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Monday, November 10th. The biotechnology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.09 by $0.15. The firm had revenue of $122.06 million during the quarter, compared to analysts’ expectations of $74.22 million. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. On average, sell-side analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Trading of Ironwood Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Ironwood Pharmaceuticals during the second quarter valued at $25,000. Integrated Wealth Concepts LLC increased its stake in Ironwood Pharmaceuticals by 21.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 3,406 shares in the last quarter. R Squared Ltd raised its holdings in Ironwood Pharmaceuticals by 286.5% in the second quarter. R Squared Ltd now owns 38,765 shares of the biotechnology company’s stock worth $28,000 after buying an additional 28,735 shares during the last quarter. Focus Partners Advisor Solutions LLC lifted its stake in shares of Ironwood Pharmaceuticals by 284.6% in the second quarter. Focus Partners Advisor Solutions LLC now owns 39,743 shares of the biotechnology company’s stock worth $29,000 after buying an additional 29,409 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of Ironwood Pharmaceuticals during the second quarter valued at approximately $32,000.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.