Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) insider Halley E. Gilbert sold 35,000 shares of Ironwood Pharmaceuticals stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $19.75, for a total value of $691,250.00. Following the sale, the insider now owns 35,000 shares in the company, valued at $691,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ IRWD) traded down 3.06% during midday trading on Monday, reaching $18.98. The company had a trading volume of 1,096,487 shares. The firm’s market capitalization is $2.82 billion. Ironwood Pharmaceuticals, Inc. has a 12-month low of $12.02 and a 12-month high of $19.89. The company has a 50 day moving average of $17.67 and a 200 day moving average of $16.53.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Monday, May 8th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.14. The firm had revenue of $52.16 million for the quarter, compared to analysts’ expectations of $69.39 million. Ironwood Pharmaceuticals had a negative net margin of 100.64% and a negative return on equity of 437.10%. The firm’s revenue for the quarter was down 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) EPS. Analysts anticipate that Ironwood Pharmaceuticals, Inc. will post ($0.91) EPS for the current year.
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A number of research firms have recently commented on IRWD. BidaskClub upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday. ValuEngine upgraded Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Wedbush reiterated a “neutral” rating and set a $13.00 target price on shares of Ironwood Pharmaceuticals in a research note on Friday, June 16th. BTIG Research reiterated a “buy” rating and set a $21.00 target price (up from $18.00) on shares of Ironwood Pharmaceuticals in a research note on Monday, March 13th. Finally, Mizuho reiterated a “buy” rating and set a $21.00 target price on shares of Ironwood Pharmaceuticals in a research note on Monday, March 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.20.
A number of hedge funds have recently bought and sold shares of IRWD. Russell Investments Group Ltd. purchased a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at $436,000. State Street Corp increased its stake in Ironwood Pharmaceuticals by 10.6% in the fourth quarter. State Street Corp now owns 3,791,359 shares of the biotechnology company’s stock valued at $57,972,000 after buying an additional 363,423 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at $172,000. Pacad Investment Ltd. purchased a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at $171,000. Finally, A.R.T. Advisors LLC purchased a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at $1,328,000. Institutional investors and hedge funds own 98.19% of the company’s stock.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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