Ironwood Pharmaceuticals (NASDAQ:IRWD) Reaches New 52-Week Low After Insider Selling

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price reached a new 52-week low on Wednesday after an insider sold shares in the company. The stock traded as low as $3.70 and last traded at $3.73, with a volume of 53965 shares trading hands. The stock had previously closed at $3.81.

Specifically, CFO Sravan Kumar Emany sold 11,001 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the transaction, the chief financial officer now directly owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IRWD shares. Leerink Partners began coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They set a “market perform” rating and a $5.00 price target for the company. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Wells Fargo & Company reduced their target price on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Ironwood Pharmaceuticals Trading Down 5.1 %

The firm has a market cap of $534.49 million, a price-to-earnings ratio of -111.33 and a beta of 0.47. The firm has a 50-day moving average of $4.25 and a two-hundred day moving average of $5.38.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The company had revenue of $91.60 million during the quarter, compared to analyst estimates of $91.22 million. During the same quarter in the previous year, the business posted $0.12 EPS. The company’s revenue was down 19.4% on a year-over-year basis. As a group, equities analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of hedge funds have recently made changes to their positions in IRWD. CWM LLC increased its position in shares of Ironwood Pharmaceuticals by 55.1% during the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 2,345 shares in the last quarter. KBC Group NV raised its stake in Ironwood Pharmaceuticals by 59.3% during the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after buying an additional 3,198 shares during the period. SG Americas Securities LLC acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at about $91,000. GAMMA Investing LLC increased its holdings in shares of Ironwood Pharmaceuticals by 344.1% in the second quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 8,156 shares in the last quarter. Finally, EntryPoint Capital LLC raised its position in shares of Ironwood Pharmaceuticals by 517.4% during the first quarter. EntryPoint Capital LLC now owns 10,589 shares of the biotechnology company’s stock worth $92,000 after purchasing an additional 8,874 shares during the period.

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.