Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Up 6%

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price traded up 6% during trading on Wednesday . The stock traded as high as $4.26 and last traded at $4.26. 522,324 shares were traded during trading, a decline of 84% from the average session volume of 3,182,908 shares. The stock had previously closed at $4.02.

Analyst Ratings Changes

IRWD has been the subject of a number of research reports. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $12.00 to $4.00 in a research note on Thursday, August 8th. Wells Fargo & Company lowered their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Leerink Partners began coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target for the company. StockNews.com raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Finally, Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Ironwood Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $12.17.

Ironwood Pharmaceuticals Trading Up 7.0 %

The company’s 50-day moving average is $4.96 and its 200 day moving average is $6.36. The firm has a market cap of $673.07 million, a PE ratio of -0.59 and a beta of 0.49.

Insider Activity

In related news, insider Minardo John sold 9,910 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $4.27, for a total value of $42,315.70. Following the completion of the sale, the insider now directly owns 284,661 shares in the company, valued at approximately $1,215,502.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stonepine Capital Management LLC bought a new position in Ironwood Pharmaceuticals in the second quarter worth $313,000. Algert Global LLC acquired a new stake in Ironwood Pharmaceuticals in the 2nd quarter valued at $93,000. Dark Forest Capital Management LP grew its position in Ironwood Pharmaceuticals by 16.5% in the second quarter. Dark Forest Capital Management LP now owns 60,386 shares of the biotechnology company’s stock valued at $394,000 after acquiring an additional 8,557 shares during the period. AQR Capital Management LLC grew its position in Ironwood Pharmaceuticals by 45.7% in the second quarter. AQR Capital Management LLC now owns 684,578 shares of the biotechnology company’s stock valued at $4,463,000 after acquiring an additional 214,836 shares during the period. Finally, Armistice Capital LLC raised its stake in Ironwood Pharmaceuticals by 44.4% during the second 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.

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.