Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Up 8.1% – Should You Buy?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) shares were up 8.1% during trading on Tuesday . The company traded as high as $4.86 and last traded at $4.8650. Approximately 894,014 shares traded hands during trading, a decline of 85% from the average daily volume of 5,780,666 shares. The stock had previously closed at $4.50.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, December 29th. Citigroup upgraded shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Monday, January 5th. Craig Hallum upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note 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. Finally, Wells Fargo & Company increased their price target on Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.68.

Ironwood Pharmaceuticals Price Performance

The stock has a market capitalization of $777.61 million, a P/E ratio of 29.88 and a beta of 0.17. The stock’s fifty day moving average is $4.19 and its two-hundred day moving average is $2.65.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several hedge funds have recently modified their holdings of IRWD. Armistice Capital LLC increased its stake in Ironwood Pharmaceuticals by 17.9% in the 2nd quarter. Armistice Capital LLC now owns 16,150,000 shares of the biotechnology company’s stock worth $11,583,000 after purchasing an additional 2,450,000 shares in the last quarter. Bank of America Corp DE increased its position in shares of Ironwood Pharmaceuticals by 248.3% in the third quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock worth $15,321,000 after acquiring an additional 8,337,672 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Ironwood Pharmaceuticals by 147.6% in the second quarter. Acadian Asset Management LLC now owns 6,549,687 shares of the biotechnology company’s stock worth $4,685,000 after acquiring an additional 3,904,498 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Ironwood Pharmaceuticals by 186.6% during the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after acquiring an additional 4,140,439 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Ironwood Pharmaceuticals by 144.3% in the 2nd quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock valued at $4,422,000 after acquiring an additional 3,641,762 shares in the last quarter.

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.