Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Up 4.8% – Here’s Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price traded up 4.8% during mid-day trading on Tuesday . The company traded as high as $3.30 and last traded at $3.3650. 226,728 shares were traded during trading, a decline of 91% from the average session volume of 2,557,380 shares. The stock had previously closed at $3.21.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Ironwood Pharmaceuticals from $1.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Zacks Research downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ironwood Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $5.34.

Ironwood Pharmaceuticals Price Performance

The firm’s 50 day moving average is $2.90 and its 200 day moving average is $1.71. The company has a market capitalization of $545.79 million, a PE ratio of 21.00 and a beta of 0.17.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Monday, November 10th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.15. The firm had revenue of $122.06 million for the quarter, compared to analysts’ expectations of $74.22 million. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. As a group, analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Ironwood Pharmaceuticals during the 2nd quarter valued at $25,000. Integrated Wealth Concepts LLC boosted its stake in shares of Ironwood Pharmaceuticals by 21.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 3,406 shares in the last quarter. R Squared Ltd raised its stake in Ironwood Pharmaceuticals by 286.5% in the second quarter. R Squared Ltd now owns 38,765 shares of the biotechnology company’s stock worth $28,000 after buying an additional 28,735 shares in the last quarter. Focus Partners Advisor Solutions LLC lifted its holdings in Ironwood Pharmaceuticals by 284.6% in the second quarter. Focus Partners Advisor Solutions LLC now owns 39,743 shares of the biotechnology company’s stock worth $29,000 after buying an additional 29,409 shares during the period. Finally, Captrust Financial Advisors bought a new stake in Ironwood Pharmaceuticals during the 2nd quarter valued at approximately $32,000.

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.