Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Down 3.7% – Time to Sell?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price traded down 3.7% during trading on Friday . The company traded as low as $3.64 and last traded at $3.64. 87,011 shares were traded during trading, a decline of 95% from the average session volume of 1,889,799 shares. The stock had previously closed at $3.78.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

Ironwood Pharmaceuticals Stock Performance

The stock has a market cap of $585.71 million, a P/E ratio of -122.00 and a beta of 0.34. The business’s 50-day moving average price is $3.96 and its 200-day moving average price is $4.65.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The company had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. During the same period in the prior year, the firm posted $0.12 EPS. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. As a group, equities research analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares in the company, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in Ironwood Pharmaceuticals by 26.6% in the 3rd quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock worth $46,473,000 after purchasing an additional 2,372,183 shares in the last quarter. State Street Corp increased its stake in Ironwood Pharmaceuticals by 7.3% in the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after acquiring an additional 677,024 shares during the last quarter. Armistice Capital LLC raised its holdings in shares of Ironwood Pharmaceuticals by 44.4% during the 2nd quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock worth $50,856,000 after acquiring an additional 2,400,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 23.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock valued at $7,846,000 after purchasing an additional 364,841 shares in the last quarter. Finally, Stonepine Capital Management LLC increased its position in Ironwood Pharmaceuticals by 1,982.8% in the third quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $4,120,000 after purchasing an additional 951,988 shares during the last quarter.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.