Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading 9.1% Higher – Here’s What Happened

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price was up 9.1% during mid-day trading on Monday . The company traded as high as $4.32 and last traded at $4.32. Approximately 96,469 shares changed hands during trading, a decline of 97% from the average daily volume of 2,999,028 shares. The stock had previously closed at $3.96.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research note 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. Craig Hallum dropped 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 note on Friday, August 9th. Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price target on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.17.

Ironwood Pharmaceuticals Price Performance

The firm has a market capitalization of $675.70 million, a price-to-earnings ratio of 106.00 and a beta of 0.48. The business’s 50 day moving average price is $4.42 and its 200-day moving average price is $5.82.

Insiders Place Their Bets

In other news, insider Minardo John sold 9,910 shares of the firm’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 of the company’s stock, valued at $1,215,502.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.90% of the stock is currently owned by insiders.

Institutional Trading of Ironwood Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in shares of Ironwood Pharmaceuticals by 152.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock valued at $50,000 after acquiring an additional 2,645 shares during the period. CWM LLC raised its holdings in Ironwood Pharmaceuticals by 55.1% during the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 2,345 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Ironwood Pharmaceuticals during the first quarter worth $91,000. GAMMA Investing LLC grew its holdings 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 during the last quarter. Finally, EntryPoint Capital LLC increased its position in shares of Ironwood Pharmaceuticals by 517.4% in the first quarter. EntryPoint Capital LLC now owns 10,589 shares of the biotechnology company’s stock valued at $92,000 after buying an additional 8,874 shares in the last quarter.

Ironwood Pharmaceuticals Company Profile

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.