Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Gap Down to $4.51

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price gapped down before the market opened on Monday . The stock had previously closed at $4.51, but opened at $4.30. Ironwood Pharmaceuticals shares last traded at $4.16, with a volume of 86,092 shares.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Leerink Partners assumed coverage on Ironwood Pharmaceuticals in a research note on Monday. They issued a “market perform” rating and a $5.00 target price on the stock. Capital One Financial cut shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday. StockNews.com raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Finally, Craig Hallum reduced 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Ironwood Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $13.57.

Ironwood Pharmaceuticals Price Performance

The firm has a market capitalization of $651.74 million, a P/E ratio of -0.60 and a beta of 0.49. The stock’s 50-day simple moving average is $5.65 and its two-hundred day simple moving average is $6.99.

Insiders Place Their Bets

In other news, insider Minardo John sold 9,910 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $4.27, for a total value of $42,315.70. Following the transaction, the insider now directly owns 284,661 shares in the company, valued at $1,215,502.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Stonepine Capital Management LLC bought a new position in shares of Ironwood Pharmaceuticals during the second quarter worth $313,000. Algert Global LLC bought a new position in shares of Ironwood Pharmaceuticals during the 2nd quarter valued at about $93,000. Dark Forest Capital Management LP grew its position in shares of Ironwood Pharmaceuticals by 16.5% during the second quarter. Dark Forest Capital Management LP now owns 60,386 shares of the biotechnology company’s stock valued at $394,000 after purchasing an additional 8,557 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Ironwood Pharmaceuticals by 45.7% in the second quarter. AQR Capital Management LLC now owns 684,578 shares of the biotechnology company’s stock worth $4,463,000 after purchasing an additional 214,836 shares during the last quarter. Finally, Armistice Capital LLC lifted its position in shares of Ironwood Pharmaceuticals by 44.4% in the second quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock worth $50,856,000 after buying an additional 2,400,000 shares in the last quarter.

Ironwood Pharmaceuticals Company Profile

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.