Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Up 3.8% – Here’s Why

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) were up 3.8% during trading on Wednesday. The stock traded as high as $3.74 and last traded at $3.7690. Approximately 321,981 shares traded hands during trading, a decline of 89% from the average daily volume of 2,989,042 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on IRWD shares. Weiss Ratings downgraded shares of Ironwood Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Zacks Research lowered shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Wall Street Zen downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Finally, Jefferies Financial Group upgraded Ironwood Pharmaceuticals to a “hold” rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.23.

Ironwood Pharmaceuticals Price Performance

The company’s 50 day simple moving average is $4.16 and its 200 day simple moving average is $3.94. The stock has a market cap of $633.70 million, a P/E ratio of 4.98 and a beta of 0.21.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Ironwood Pharmaceuticals had a negative return on equity of 58.38% and a net margin of 33.36%.The business had revenue of $113.04 million for the quarter, compared to the consensus estimate of $114.84 million. On average, equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post 1.1 earnings per share for the current year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its holdings in Ironwood Pharmaceuticals by 724.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,397,242 shares of the biotechnology company’s stock worth $11,924,000 after purchasing an additional 2,985,181 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ironwood Pharmaceuticals by 529.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,082,055 shares of the biotechnology company’s stock worth $7,307,000 after buying an additional 1,751,219 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 6.9% during the first quarter. Hillsdale Investment Management Inc. now owns 1,236,628 shares of the biotechnology company’s stock worth $4,341,000 after buying an additional 80,250 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Ironwood Pharmaceuticals during the first quarter worth about $3,982,000. Finally, Sei Investments Co. raised its position in Ironwood Pharmaceuticals by 10.2% in the 1st quarter. Sei Investments Co. now owns 742,548 shares of the biotechnology company’s stock valued at $2,606,000 after buying an additional 68,686 shares during the last quarter.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc is a gastrointestinal-focused biopharmaceutical company that discovers, develops, and commercializes medicines for gastrointestinal diseases. The company concentrates on conditions affecting the digestive system, including disorders with substantial unmet medical needs.

Ironwood’s principal commercial product is LINZESS (linaclotide), a prescription treatment for adults with irritable bowel syndrome with constipation and chronic idiopathic constipation. In the United States, LINZESS is marketed through a collaboration with AbbVie, while it is marketed in many international markets under the name CONSTELLA through a collaboration with the healthcare business of AstraZeneca and other regional partners.

Founded in 1998 and headquartered in Boston, Massachusetts, Ironwood has expanded its development activities through internal research, partnerships, and acquisitions.