Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Up 10.7% – Should You Buy?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price was up 10.7% during mid-day trading on Monday . The stock traded as high as $4.50 and last traded at $4.4940. Approximately 2,847,290 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 16,333,295 shares. The stock had previously closed at $4.06.

Analyst Ratings Changes

Several analysts have issued reports on IRWD shares. Wells Fargo & Company raised their price objective on shares of Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Weiss Ratings restated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a report on Monday, December 29th. Citigroup upgraded Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note 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. Finally, Citizens Jmp upgraded shares of Ironwood Pharmaceuticals from a “market perform” rating to a “market outperform” rating and set a $8.00 price target on the stock in a report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.12.

Ironwood Pharmaceuticals Stock Up 10.1%

The firm has a 50 day moving average price of $3.37 and a 200 day moving average price of $1.94. The stock has a market cap of $727.18 million, a PE ratio of 27.94 and a beta of 0.18.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Monday, November 10th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.15. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. The company had revenue of $122.06 million for the quarter, compared to analysts’ expectations of $74.22 million. Equities 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 institutional investors and hedge funds have recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Ironwood Pharmaceuticals during the 2nd quarter valued at $25,000. Integrated Wealth Concepts LLC increased its position in 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 buying 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 valued at $28,000 after buying an additional 28,735 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted 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 acquiring an additional 29,409 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of Ironwood Pharmaceuticals during the second quarter worth about $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.