Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Short Interest Update

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 8,570,000 shares, a decline of 21.8% from the October 31st total of 10,960,000 shares. Based on an average daily volume of 1,630,000 shares, the short-interest ratio is currently 5.3 days. Approximately 5.5% of the shares of the company are sold short.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the sale, the chief financial officer now directly owns 309,572 shares in the company, valued at $1,263,053.76. The trade was a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. KBC Group NV increased its stake in Ironwood Pharmaceuticals by 59.3% in the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 3,198 shares during the last quarter. CWM LLC increased its stake in Ironwood Pharmaceuticals by 55.1% in the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 2,345 shares during the last quarter. Wolverine Trading LLC bought a new position in Ironwood Pharmaceuticals in the 3rd quarter worth about $51,000. Diversified Trust Co bought a new position in Ironwood Pharmaceuticals in the 3rd quarter worth about $52,000. Finally, Legacy Capital Group California Inc. bought a new position in Ironwood Pharmaceuticals in the 3rd quarter worth about $59,000.

Ironwood Pharmaceuticals Stock Performance

NASDAQ:IRWD opened at $3.52 on Monday. Ironwood Pharmaceuticals has a 52-week low of $3.26 and a 52-week high of $15.70. The firm has a market cap of $563.31 million, a price-to-earnings ratio of -117.33 and a beta of 0.47. The business’s fifty day moving average is $4.12 and its 200 day moving average is $5.18.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The company had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was down 19.4% compared to the same quarter last year. Equities analysts predict that Ironwood Pharmaceuticals will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IRWD shares. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Wells Fargo & Company lowered their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $12.00 to $4.00 in a research note on Thursday, August 8th. Craig Hallum lowered their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Leerink Partners started coverage on Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

About Ironwood Pharmaceuticals

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.