Insider Selling: Ironwood Pharmaceuticals (NASDAQ:IRWD) Director Sells 6,730,800 Shares of Stock

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Director Alexander Denner sold 6,730,800 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $3.05, for a total value of $20,528,940.00. Following the completion of the transaction, the director owned 9,188,635 shares in the company, valued at approximately $28,025,336.75. This trade represents a 42.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Ironwood Pharmaceuticals Stock Down 3.6%

Ironwood Pharmaceuticals stock traded down $0.12 during mid-day trading on Tuesday, hitting $3.25. 10,410,646 shares of the company’s stock traded hands, compared to its average volume of 3,199,902. The company has a market cap of $528.71 million, a PE ratio of 25.00 and a beta of 0.24. Ironwood Pharmaceuticals, Inc. has a one year low of $0.53 and a one year high of $5.78. The firm has a 50 day moving average price of $4.28 and a 200 day moving average price of $3.04.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Wednesday, February 25th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $47.71 million during the quarter, compared to analyst estimates of $86.10 million. Ironwood Pharmaceuticals had a net margin of 8.11% and a negative return on equity of 13.72%. On average, analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in Ironwood Pharmaceuticals by 248.3% in the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock worth $15,321,000 after buying an additional 8,337,672 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 186.6% in the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock worth $9,349,000 after acquiring an additional 4,140,439 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Ironwood Pharmaceuticals by 144.3% during the 2nd quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock worth $4,422,000 after purchasing an additional 3,641,762 shares during the period. Marshall Wace LLP boosted its stake in shares of Ironwood Pharmaceuticals by 616.3% during the 2nd quarter. Marshall Wace LLP now owns 3,993,557 shares of the biotechnology company’s stock worth $2,875,000 after purchasing an additional 3,436,036 shares during the period. Finally, Jane Street Group LLC grew its holdings in Ironwood Pharmaceuticals by 740.5% during the 1st quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock valued at $5,160,000 after purchasing an additional 3,092,475 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, December 29th. Wells Fargo & Company lifted their price target 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. Citigroup raised Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, January 5th. Citizens Jmp boosted their target price on shares of Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. Finally, Wall Street Zen downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals presently has an average rating of “Hold” and an average target price of $4.93.

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.