Ironwood Pharmaceuticals (NASDAQ:IRWD) Reaches New 1-Year Low at $7.78

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $7.78 and last traded at $7.82, with a volume of 312484 shares trading hands. The stock had previously closed at $7.88.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IRWD shares. Wells Fargo & Company lowered their target price on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, March 1st. Piper Sandler boosted their target price on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, February 16th. StockNews.com cut Ironwood Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, April 6th. Finally, Craig Hallum started coverage on Ironwood Pharmaceuticals in a research note on Wednesday, January 17th. They set a "buy" rating and a $21.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.80.

Ironwood Pharmaceuticals Price Performance

The stock has a market capitalization of $1.22 billion, a PE ratio of -1.20 and a beta of 0.55. The stock has a 50 day moving average of $10.92 and a two-hundred day moving average of $10.78.

Insider Activity at Ironwood Pharmaceuticals

In related news, CEO Thomas A. Mccourt sold 177,164 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $2,699,979.36. Following the sale, the chief executive officer now directly owns 832,774 shares in the company, valued at $12,691,475.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Ironwood Pharmaceuticals news, insider Minardo John sold 47,380 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $722,071.20. Following the sale, the insider now directly owns 224,796 shares in the company, valued at $3,425,891.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas A. Mccourt sold 177,164 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $2,699,979.36. Following the sale, the chief executive officer now owns 832,774 shares in the company, valued at $12,691,475.76. The disclosure for this sale can be found here. Insiders have sold a total of 273,008 shares of company stock worth $4,160,642 over the last three months. 13.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Ironwood Pharmaceuticals

A number of institutional investors have recently bought and sold shares of IRWD. Signaturefd LLC raised its holdings in shares of Ironwood Pharmaceuticals by 61.4% in the fourth quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company's stock worth $25,000 after acquiring an additional 822 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 331.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 1,900 shares during the last quarter. Natixis acquired a new position in shares of Ironwood Pharmaceuticals in the fourth quarter worth $30,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Ironwood Pharmaceuticals by 96.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,997 shares of the biotechnology company's stock worth $38,000 after acquiring an additional 1,961 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 41.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,647 shares of the biotechnology company's stock worth $39,000 after acquiring an additional 1,067 shares during the last quarter.

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.