Ironwood Pharmaceuticals (IRWD) Sees Unusually-High Trading Volume

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw unusually-high trading volume on Friday . Approximately 5,660,859 shares changed hands during trading, an increase of 267% from the previous session’s volume of 1,540,955 shares.The stock last traded at $11.26 and had previously closed at $9.90.

IRWD has been the subject of a number of research reports. JPMorgan Chase & Co. raised Ironwood Pharmaceuticals from an “underweight” rating to a “neutral” rating and increased their price target for the company from $11.00 to $13.00 in a research note on Thursday, January 24th. BidaskClub lowered Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Zacks Investment Research raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, January 28th. Wood & Company reissued a “buy” rating on shares of Ironwood Pharmaceuticals in a research note on Thursday, January 31st. Finally, ValuEngine raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Ironwood Pharmaceuticals has an average rating of “Hold” and an average target price of $15.15.

The company has a market cap of $1.74 billion, a PE ratio of -11.85 and a beta of 1.89.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The firm had revenue of $68.73 million during the quarter, compared to analyst estimates of $81.93 million. Ironwood Pharmaceuticals’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned ($0.25) earnings per share. On average, equities research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post -0.12 EPS for the current fiscal year.

In other news, CFO Gina Consylman sold 5,677 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $14.31, for a total value of $81,237.87. Following the completion of the sale, the chief financial officer now directly owns 168,543 shares of the company’s stock, valued at approximately $2,411,850.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark G. Currie sold 275,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.26, for a total value of $3,646,500.00. Following the completion of the sale, the insider now directly owns 577,980 shares of the company’s stock, valued at $7,664,014.80. The disclosure for this sale can be found here. Insiders sold a total of 288,376 shares of company stock valued at $3,822,783 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Large investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY raised its holdings in shares of Ironwood Pharmaceuticals by 330.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 44,771 shares of the biotechnology company’s stock worth $464,000 after buying an additional 34,372 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Ironwood Pharmaceuticals by 22.8% in the fourth quarter. Two Sigma Advisers LP now owns 43,157 shares of the biotechnology company’s stock worth $447,000 after buying an additional 8,000 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of Ironwood Pharmaceuticals by 5.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,974,879 shares of the biotechnology company’s stock worth $20,460,000 after buying an additional 96,070 shares during the period. CWM LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter worth approximately $31,000. Finally, Nomura Holdings Inc. increased its holdings in Ironwood Pharmaceuticals by 30.6% during the 4th quarter. Nomura Holdings Inc. now owns 66,622 shares of the biotechnology company’s stock worth $688,000 after purchasing an additional 15,614 shares during the period. 97.04% of the stock is owned by institutional investors and hedge funds.

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About Ironwood Pharmaceuticals (NASDAQ:IRWD)

Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.

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