Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Gap Down – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $3.79, but opened at $3.60. Ironwood Pharmaceuticals shares last traded at $3.2410, with a volume of 3,381,055 shares trading hands.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup upgraded shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, January 5th. Citizens Jmp raised Ironwood Pharmaceuticals from a “market perform” rating to a “market outperform” rating and set a $8.00 target price on the stock in a report on Monday, January 5th. Zacks Research upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Wells Fargo & Company upped their price target on Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $3.68.

Ironwood Pharmaceuticals Stock Down 14.1%

The company’s fifty day moving average is $4.27 and its 200 day moving average is $2.79. The stock has a market cap of $529.52 million, a PE ratio of 20.41 and a beta of 0.17.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, February 26th. The biotechnology company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $47.71 million during the quarter. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. Equities analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently modified their holdings of IRWD. DGS Capital Management LLC purchased a new position in Ironwood Pharmaceuticals in the 4th quarter valued at about $35,000. Invesco Ltd. lifted its stake in shares of Ironwood Pharmaceuticals by 22.6% in the fourth quarter. Invesco Ltd. now owns 449,219 shares of the biotechnology company’s stock worth $1,514,000 after acquiring an additional 82,687 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Ironwood Pharmaceuticals by 7.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 76,951 shares of the biotechnology company’s stock valued at $259,000 after purchasing an additional 5,598 shares during the last quarter. XTX Topco Ltd increased its holdings in Ironwood Pharmaceuticals by 290.4% during the 4th quarter. XTX Topco Ltd now owns 43,904 shares of the biotechnology company’s stock worth $148,000 after purchasing an additional 32,657 shares during the last quarter. Finally, Virtus Investment Advisers LLC acquired a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at approximately $250,000.

About Ironwood Pharmaceuticals

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.