Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Down 3.7% – Here’s What Happened

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price was down 3.7% during trading on Thursday . The stock traded as low as $3.32 and last traded at $3.2450. Approximately 86,396 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,562,198 shares. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IRWD. Zacks Research cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Wells Fargo & Company lifted their price objective on shares of Ironwood Pharmaceuticals from $1.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.34.

Ironwood Pharmaceuticals Price Performance

The firm has a market capitalization of $509.19 million, a PE ratio of 19.56 and a beta of 0.18. The company’s fifty day simple moving average is $2.69 and its 200-day simple moving average is $1.59.

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

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRWD. Integrated Wealth Concepts LLC raised its position in shares of Ironwood Pharmaceuticals by 21.4% in the third 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 during the period. McAdam LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the first quarter valued at about $40,000. Vise Technologies Inc. bought a new position in shares of Ironwood Pharmaceuticals in the third quarter worth about $39,000. BNP Paribas Financial Markets lifted its position in shares of Ironwood Pharmaceuticals by 83.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,331 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 15,594 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Ironwood Pharmaceuticals during the 2nd quarter worth about $25,000.

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.