Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Up 9.7% – Still a Buy?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was up 9.7% on Thursday . The stock traded as high as $3.61 and last traded at $3.6740. Approximately 1,051,525 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 3,560,417 shares. The stock had previously closed at $3.35.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IRWD shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, April 27th. Zacks Research cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Citizens Jmp lifted their target price on shares of Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 26th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $3.70 target price on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.23.

Ironwood Pharmaceuticals Trading Up 0.6%

The company’s 50-day simple moving average is $3.82 and its 200 day simple moving average is $3.87. The stock has a market cap of $595.17 million, a P/E ratio of 6.08 and a beta of 0.25.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $106.51 million for the quarter, compared to the consensus estimate of $92.11 million. Ironwood Pharmaceuticals had a negative return on equity of 39.65% and a net margin of 28.26%. Research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In related news, Director Alexander J. Denner sold 6,730,800 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.05, for a total value of $20,528,940.00. Following the sale, the director owned 9,188,635 shares of the company’s stock, valued at approximately $28,025,336.75. The trade was a 42.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.30% of the company’s stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Range Financial Group LLC bought a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter worth approximately $1,436,000. Hillsdale Investment Management Inc. purchased a new position in Ironwood Pharmaceuticals in the 4th quarter valued at approximately $3,897,000. GSA Capital Partners LLP grew its stake in Ironwood Pharmaceuticals by 84.7% in the 4th quarter. GSA Capital Partners LLP now owns 571,613 shares of the biotechnology company’s stock valued at $1,926,000 after buying an additional 262,084 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Ironwood Pharmaceuticals in the 4th quarter valued at approximately $554,000. Finally, ProShare Advisors LLC grew its stake in Ironwood Pharmaceuticals by 9.6% in the 4th quarter. ProShare Advisors LLC now owns 36,315 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 3,170 shares in the last quarter.

Ironwood Pharmaceuticals Company Profile

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.