Ironwood Pharmaceuticals (NASDAQ:IRWD) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.84 and traded as high as $4.03. Ironwood Pharmaceuticals shares last traded at $3.71, with a volume of 2,944,044 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IRWD. 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 research report on Thursday, February 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, April 27th. Jefferies Financial Group restated a “hold” rating and set a $3.70 target price on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 26th. Zacks Research lowered shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.23.

Ironwood Pharmaceuticals Stock Down 0.8%

The firm has a market cap of $582.12 million, a PE ratio of 5.95 and a beta of 0.29. The firm’s fifty day simple moving average is $3.80 and its two-hundred day simple moving average is $3.85.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. The firm had revenue of $106.51 million for the quarter, compared to analysts’ expectations of $92.11 million. As a group, analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals 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 transaction of $20,528,940.00. Following the transaction, the director owned 9,188,635 shares of the company’s stock, valued at $28,025,336.75. The trade was a 42.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Range Financial Group LLC purchased a new position in shares of Ironwood Pharmaceuticals in the fourth quarter worth $1,436,000. State of Wyoming grew its stake in Ironwood Pharmaceuticals by 76.2% during the third quarter. State of Wyoming now owns 362,407 shares of the biotechnology company’s stock valued at $475,000 after acquiring an additional 156,763 shares in the last quarter. GSA Capital Partners LLP increased its holdings 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 acquiring an additional 262,084 shares during the last quarter. Simplify Asset Management Inc. purchased a new stake in Ironwood Pharmaceuticals in the 4th quarter worth $37,000. Finally, MQS Management LLC purchased a new stake in Ironwood Pharmaceuticals in the 4th quarter worth $42,000.

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.