Key Points
- Director Alexander Denner sold 6,730,800 shares on March 17 at an average price of $3.05 for about $20.53 million, reducing his ownership by 42.28% to 9,188,635 shares.
- Ironwood missed quarterly estimates, reporting an EPS of ($0.01) versus $0.02 expected and revenue of $47.71 million versus a $86.10 million consensus.
- IRWD trades near $3.25 with a market cap of $528.7 million and a 52‑week range of $0.53–$5.78; analysts' consensus is a Hold with a $4.93 average price target.
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) Director Alexander Denner sold 6,730,800 shares of the firm's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $3.05, for a total transaction of $20,528,940.00. Following the completion of the transaction, the director directly owned 9,188,635 shares of the company's stock, valued at approximately $28,025,336.75. This trade represents a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Ironwood Pharmaceuticals Stock Performance
Shares of IRWD opened at $3.25 on Wednesday. The stock has a market capitalization of $528.71 million, a PE ratio of 25.00 and a beta of 0.24. The company's fifty day moving average is $4.28 and its 200 day moving average is $3.04. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $0.53 and a fifty-two week high of $5.78.
Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The biotechnology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Ironwood Pharmaceuticals had a net margin of 8.11% and a negative return on equity of 13.72%. The business had revenue of $47.71 million for the quarter, compared to the consensus estimate of $86.10 million. As a group, research analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.
Institutional Investors Weigh In On Ironwood Pharmaceuticals
Several hedge funds and other institutional investors have recently modified their holdings of IRWD. Armistice Capital LLC lifted its stake in shares of Ironwood Pharmaceuticals by 17.9% during the 2nd quarter. Armistice Capital LLC now owns 16,150,000 shares of the biotechnology company's stock worth $11,583,000 after acquiring an additional 2,450,000 shares during the last quarter. Bank of America Corp DE boosted its holdings in Ironwood Pharmaceuticals by 248.3% during the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company's stock valued at $15,321,000 after acquiring an additional 8,337,672 shares during the period. Millennium Management LLC grew its position in Ironwood Pharmaceuticals by 186.6% in the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company's stock valued at $9,349,000 after acquiring an additional 4,140,439 shares during the last quarter. AQR Capital Management LLC increased its stake in Ironwood Pharmaceuticals by 144.3% in the second quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company's stock worth $4,422,000 after purchasing an additional 3,641,762 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Ironwood Pharmaceuticals by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,975,939 shares of the biotechnology company's stock worth $16,769,000 after purchasing an additional 58,603 shares during the period.
Wall Street Analysts Forecast Growth
IRWD has been the subject of a number of recent research reports. Citizens Jmp lifted their target price on Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the stock a "market outperform" rating in a report on Thursday, February 26th. Jefferies Financial Group restated a "hold" rating and issued a $3.70 price target on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 26th. Citigroup raised shares of Ironwood Pharmaceuticals from a "market perform" rating to an "outperform" rating in a research note on Monday, January 5th. Wall Street Zen cut shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 7th. Finally, Craig Hallum raised shares of Ironwood Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $4.93.
Get Our Latest Stock Analysis on IRWD
Ironwood Pharmaceuticals Company Profile
(
Get Free Report)
Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company's flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.
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