Key Points
- Ironwood Pharmaceuticals director Julie Mchugh sold 21,571 shares on June 16 at an average price of $3.73, totaling about $80,460. After the transaction, she still held 250,749 shares, representing a 7.92% reduction in her position.
- IRWD shares were trading near $3.52, giving the company a market cap of about $574 million and a price level below both its 50-day and 200-day moving averages.
- Analysts remain mixed on Ironwood: the stock currently carries an average “Hold” rating with a consensus price target of $6.23, while recent earnings showed revenue above expectations but EPS slightly below consensus.
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) Director Julie Mchugh sold 21,571 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.73, for a total transaction of $80,459.83. Following the completion of the sale, the director directly owned 250,749 shares of the company's stock, valued at $935,293.77. The trade was a 7.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Ironwood Pharmaceuticals Stock Performance
Shares of IRWD opened at $3.52 on Thursday. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $0.62 and a fifty-two week high of $5.78. The company has a 50 day moving average price of $3.83 and a 200-day moving average price of $3.88. The stock has a market capitalization of $573.97 million, a PE ratio of 5.87 and a beta of 0.25.
Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last posted its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The firm had revenue of $106.51 million for the quarter, compared to analysts' expectations of $92.11 million. Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. Equities research analysts forecast that Ironwood Pharmaceuticals, Inc. will post 1.04 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms recently commented on IRWD. Jefferies Financial Group restated a "hold" rating and set a $3.70 price target on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 26th. Citizens Jmp lifted their target price on shares of Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the stock a "market outperform" rating in a research note on Thursday, February 26th. Zacks Research cut shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Weiss Ratings restated a "sell (d+)" rating on shares of Ironwood Pharmaceuticals in a report on Monday, April 27th. Finally, Wall Street Zen upgraded shares of Ironwood Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.23.
Check Out Our Latest Analysis on Ironwood Pharmaceuticals
Hedge Funds Weigh In On Ironwood Pharmaceuticals
Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in Ironwood Pharmaceuticals by 535.8% in the 1st quarter. AQR Capital Management LLC now owns 2,523,875 shares of the biotechnology company's stock valued at $3,710,000 after acquiring an additional 2,126,889 shares during the last quarter. Millennium Management LLC boosted its position in shares of Ironwood Pharmaceuticals by 186.6% in the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company's stock worth $9,349,000 after acquiring an additional 4,140,439 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Ironwood Pharmaceuticals in the first quarter valued at approximately $57,000. Goldman Sachs Group Inc. raised its holdings in Ironwood Pharmaceuticals by 72.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,575,416 shares of the biotechnology company's stock valued at $2,316,000 after buying an additional 660,144 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of Ironwood Pharmaceuticals by 740.5% during the first quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company's stock valued at $5,160,000 after purchasing an additional 3,092,475 shares during the period.
About Ironwood Pharmaceuticals
(
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.
Further Reading
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