Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading 3.6% Higher – Here’s Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was up 3.6% during trading on Wednesday . The stock traded as high as $4.30 and last traded at $4.30. Approximately 116,164 shares changed hands during trading, a decline of 96% from the average daily volume of 3,131,089 shares. The stock had previously closed at $4.15.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IRWD shares. Wells Fargo & Company reduced their price target on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Craig Hallum decreased their target price on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Capital One Financial downgraded Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $12.00 to $4.00 in a report on Thursday, August 8th. Finally, Leerink Partners assumed coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.17.

Ironwood Pharmaceuticals Price Performance

The company has a market cap of $668.38 million, a price-to-earnings ratio of -0.64 and a beta of 0.48. The business’s fifty day moving average price is $4.69 and its 200 day moving average price is $6.20.

Insider Transactions at Ironwood Pharmaceuticals

In other 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 transaction, the insider now owns 284,661 shares in the company, valued at approximately $1,215,502.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 and other institutional investors have recently bought and sold shares of the company. CWM LLC lifted its holdings in Ironwood Pharmaceuticals by 55.1% in the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 2,345 shares during the period. PNC Financial Services Group Inc. increased its stake in Ironwood Pharmaceuticals by 152.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 2,645 shares in the last quarter. Diversified Trust Co bought a new stake in Ironwood Pharmaceuticals in the third quarter valued at $52,000. GAMMA Investing LLC increased its stake in Ironwood Pharmaceuticals by 344.1% in the second quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 8,156 shares in the last quarter. Finally, First Dallas Securities Inc. bought a new stake in Ironwood Pharmaceuticals in the second quarter valued at $73,000.

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.