Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Down 4.8% – Time to Sell?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) shares traded down 4.8% on Monday . The company traded as low as $4.19 and last traded at $4.19. 97,282 shares traded hands during trading, a decline of 97% from the average session volume of 3,049,515 shares. The stock had previously closed at $4.40.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a “market perform” rating and a $5.00 price target for the company. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company dropped their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Craig Hallum dropped their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Capital One Financial cut shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $12.00 to $4.00 in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Ironwood Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $12.17.

Ironwood Pharmaceuticals Price Performance

The company has a market cap of $622.99 million, a PE ratio of -0.60 and a beta of 0.48. The business’s 50 day moving average is $4.45 and its 200-day moving average is $5.91.

Insider Transactions at Ironwood Pharmaceuticals

In other news, insider Minardo John sold 9,910 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $4.27, for a total transaction of $42,315.70. Following the completion of the sale, the insider now owns 284,661 shares in the company, valued at approximately $1,215,502.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.90% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its holdings in shares of Ironwood Pharmaceuticals by 244.8% in the 1st quarter. Russell Investments Group Ltd. now owns 777,847 shares of the biotechnology company’s stock valued at $6,775,000 after acquiring an additional 552,227 shares during the period. Entropy Technologies LP acquired a new position in shares of Ironwood Pharmaceuticals during the 1st quarter worth $693,000. First Eagle Investment Management LLC grew its stake in shares of Ironwood Pharmaceuticals by 10.5% during the 1st quarter. First Eagle Investment Management LLC now owns 1,002,225 shares of the biotechnology company’s stock worth $8,729,000 after purchasing an additional 95,000 shares during the period. Hodges Capital Management Inc. acquired a new position in shares of Ironwood Pharmaceuticals during the 1st quarter worth $7,521,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Ironwood Pharmaceuticals by 339.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 195,057 shares of the biotechnology company’s stock worth $1,699,000 after purchasing an additional 150,663 shares during the period.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.