Investors Buy Large Volume of Ironwood Pharmaceuticals Put Options (NASDAQ:IRWD)

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw unusually large options trading activity on Tuesday. Stock traders purchased 944 put options on the stock. This is an increase of 973% compared to the typical daily volume of 88 put options.

NASDAQ IRWD opened at $18.71 on Thursday. The company has a market capitalization of $2.91 billion, a P/E ratio of -20.12 and a beta of 1.11. Ironwood Pharmaceuticals has a one year low of $12.89 and a one year high of $19.79. The company has a debt-to-equity ratio of -21.52, a quick ratio of 4.40 and a current ratio of 4.42.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Tuesday, May 1st. The biotechnology company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.06). The company had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $78.65 million. Ironwood Pharmaceuticals had a negative return on equity of 2,073.20% and a negative net margin of 34.12%. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) EPS. equities research analysts predict that Ironwood Pharmaceuticals will post -0.72 EPS for the current year.

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $17.62, for a total transaction of $26,430.00. Following the sale, the director now directly owns 92,631 shares of the company’s stock, valued at approximately $1,632,158.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.63% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. LPL Financial LLC lifted its stake in Ironwood Pharmaceuticals by 16.3% in the 1st quarter. LPL Financial LLC now owns 21,160 shares of the biotechnology company’s stock worth $326,000 after purchasing an additional 2,959 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Ironwood Pharmaceuticals by 2.4% in the 1st quarter. Guggenheim Capital LLC now owns 188,974 shares of the biotechnology company’s stock worth $2,915,000 after purchasing an additional 4,372 shares in the last quarter. Northern Trust Corp raised its position in shares of Ironwood Pharmaceuticals by 0.3% during the 1st quarter. Northern Trust Corp now owns 1,561,766 shares of the biotechnology company’s stock valued at $24,099,000 after buying an additional 4,613 shares in the last quarter. Swiss National Bank raised its position in shares of Ironwood Pharmaceuticals by 2.2% during the 1st quarter. Swiss National Bank now owns 223,500 shares of the biotechnology company’s stock valued at $3,449,000 after buying an additional 4,900 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ironwood Pharmaceuticals by 128.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,010 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 5,069 shares in the last quarter.

Several equities research analysts have issued reports on the stock. ValuEngine raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. BidaskClub cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Barclays raised their target price on shares of Ironwood Pharmaceuticals from $16.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 2nd. Finally, Wells Fargo & Co raised their target price on shares of Ironwood Pharmaceuticals from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, May 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $19.44.

Ironwood Pharmaceuticals Company Profile

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; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.

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