Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Down 4.8% – Here’s Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price fell 4.8% during mid-day trading on Monday . The stock traded as low as $4.19 and last traded at $4.19. 97,282 shares were traded during trading, a decline of 97% from the average session volume of 3,049,515 shares. The stock had previously closed at $4.40.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IRWD. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Capital One Financial lowered shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $12.00 to $4.00 in a report on Thursday, August 8th. Leerink Partners assumed coverage on Ironwood Pharmaceuticals in a research note on Monday, September 9th. They set a “market perform” rating and a $5.00 target price on the stock. Finally, Craig Hallum lowered their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.17.

Ironwood Pharmaceuticals Stock Performance

The business’s fifty day moving average price is $4.46 and its two-hundred day moving average price is $5.97. The stock has a market capitalization of $654.29 million, a P/E ratio of -0.61 and a beta of 0.48.

Insider Activity

In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, August 12th. The shares were sold at an average price of $4.27, for a total transaction of $42,315.70. Following the completion of the transaction, the insider now directly owns 284,661 shares of the company’s stock, valued at $1,215,502.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in Ironwood Pharmaceuticals by 244.8% during the 1st quarter. Russell Investments Group Ltd. now owns 777,847 shares of the biotechnology company’s stock valued at $6,775,000 after buying an additional 552,227 shares in the last quarter. Entropy Technologies LP acquired a new position in Ironwood Pharmaceuticals in the 1st quarter valued at $693,000. First Eagle Investment Management LLC lifted its stake in shares of Ironwood Pharmaceuticals by 10.5% in the first quarter. First Eagle Investment Management LLC now owns 1,002,225 shares of the biotechnology company’s stock worth $8,729,000 after buying an additional 95,000 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the 1st quarter worth $7,521,000. Finally, State Board of Administration of Florida Retirement System raised its position in Ironwood Pharmaceuticals by 339.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 195,057 shares of the biotechnology company’s stock valued at $1,699,000 after purchasing an additional 150,663 shares during the period.

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.