Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Up 5.1% – Still a Buy?

by · The Cerbat Gem

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Free Report) shares were up 5.1% during trading on Tuesday . The company traded as high as $4.51 and last traded at $4.51. Approximately 282,032 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 3,092,923 shares. The stock had previously closed at $4.29.

Analyst Upgrades and Downgrades

IRWD has been the subject of several research reports. Craig Hallum decreased their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company dropped their target price on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Finally, Capital One Financial lowered shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.17.

Read Our Latest Report on Ironwood Pharmaceuticals

Ironwood Pharmaceuticals Trading Down 1.3 %

The stock has a market cap of $694.99 million, a price-to-earnings ratio of -0.65 and a beta of 0.48. The company has a fifty day simple moving average of $4.45 and a 200-day simple moving average of $6.03.

Insider Activity

In related news, insider Minardo John sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $4.27, for a total value of $42,315.70. Following the completion of the transaction, the insider now owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Ironwood Pharmaceuticals by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 16,033,545 shares of the biotechnology company’s stock valued at $183,424,000 after acquiring an additional 1,137,845 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Ironwood Pharmaceuticals by 152.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 2,645 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 209.9% during the first quarter. Los Angeles Capital Management LLC now owns 85,343 shares of the biotechnology company’s stock worth $743,000 after purchasing an additional 57,806 shares during the period. Hodges Capital Management Inc. purchased a new position in Ironwood Pharmaceuticals during the first quarter valued at approximately $7,521,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Ironwood Pharmaceuticals by 63.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 79,361 shares of the biotechnology company’s stock valued at $691,000 after buying an additional 30,745 shares during the period.

Ironwood Pharmaceuticals Company Profile

(Get Free Report)

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.

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