Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Jumps 3.8% – Here’s What Happened

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price shot up 3.8% during mid-day trading on Wednesday. The stock traded as high as $3.74 and last traded at $3.7690. 321,981 shares were traded during trading, a decline of 89% from the average session volume of 2,989,042 shares. The stock had previously closed at $3.63.

Analyst Ratings Changes

IRWD has been the subject of several research reports. Weiss Ratings downgraded shares of Ironwood Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Wall Street Zen cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. Zacks Research downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Finally, Jefferies Financial Group upgraded Ironwood Pharmaceuticals to a “hold” rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.23.

Ironwood Pharmaceuticals Trading Up 3.2%

The firm has a market capitalization of $639.48 million, a P/E ratio of 5.03 and a beta of 0.21. The company has a 50-day moving average of $4.17 and a 200-day moving average of $3.95.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $113.04 million during the quarter, compared to analyst estimates of $114.84 million. Ironwood Pharmaceuticals had a net margin of 33.36% and a negative return on equity of 58.38%. Research analysts predict that Ironwood Pharmaceuticals, Inc. will post 1.1 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IRWD. Dimensional Fund Advisors LP increased its position in shares of Ironwood Pharmaceuticals by 529.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,082,055 shares of the biotechnology company’s stock worth $7,307,000 after buying an additional 1,751,219 shares during the period. Bank of New York Mellon Corp bought a new stake in Ironwood Pharmaceuticals during the second quarter valued at $2,142,000. Pacer Advisors Inc. bought a new stake in Ironwood Pharmaceuticals during the first quarter valued at $3,982,000. Inspire Investing LLC acquired a new stake in Ironwood Pharmaceuticals during the 1st quarter worth about $1,790,000. Finally, Globeflex Capital L P bought a new position in shares of Ironwood Pharmaceuticals in the 2nd quarter worth about $1,094,000.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a gastrointestinal-focused biopharmaceutical company that discovers, develops, and commercializes medicines for gastrointestinal diseases. The company concentrates on conditions affecting the digestive system, including disorders with substantial unmet medical needs.

Ironwood’s principal commercial product is LINZESS (linaclotide), a prescription treatment for adults with irritable bowel syndrome with constipation and chronic idiopathic constipation. In the United States, LINZESS is marketed through a collaboration with AbbVie, while it is marketed in many international markets under the name CONSTELLA through a collaboration with the healthcare business of AstraZeneca and other regional partners.

Founded in 1998 and headquartered in Boston, Massachusetts, Ironwood has expanded its development activities through internal research, partnerships, and acquisitions.