Ironwood Pharmaceuticals (NASDAQ:IRWD) Shares Up 5.5%

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report)'s stock price shot up 5.5% during mid-day trading on Wednesday . The stock traded as high as $8.19 and last traded at $8.18. Approximately 351,520 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 4,272,103 shares. The stock had previously closed at $7.75.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRWD. StockNews.com cut Ironwood Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, April 6th. Wells Fargo & Company decreased their target price on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an "overweight" rating on the stock in a research report on Friday, March 1st. Craig Hallum began coverage on Ironwood Pharmaceuticals in a report on Wednesday, January 17th. They set a "buy" rating and a $21.00 price objective for the company. Finally, Piper Sandler increased their target price on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, February 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.80.

Ironwood Pharmaceuticals Stock Performance

The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -1.27 and a beta of 0.55. The business's 50-day simple moving average is $9.23 and its 200-day simple moving average is $10.65.

Insider Buying and Selling

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 177,164 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, February 12th. The shares were sold at an average price of $15.24, for a total transaction of $2,699,979.36. Following the completion of the sale, the chief executive officer now owns 832,774 shares of the company's stock, valued at approximately $12,691,475.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Thomas A. Mccourt sold 177,164 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $2,699,979.36. Following the completion of the transaction, the chief executive officer now directly owns 832,774 shares in the company, valued at approximately $12,691,475.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Minardo John sold 47,380 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $15.24, for a total transaction of $722,071.20. Following the completion of the sale, the insider now owns 224,796 shares in the company, valued at $3,425,891.04. The disclosure for this sale can be found here. Insiders sold a total of 273,008 shares of company stock valued at $4,160,642 over the last ninety days. Insiders own 13.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC acquired a new stake in shares of Ironwood Pharmaceuticals during the third quarter worth about $33,281,000. Jacobs Levy Equity Management Inc. bought a new position in Ironwood Pharmaceuticals in the third quarter valued at approximately $22,903,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Ironwood Pharmaceuticals by 566.8% in the third quarter. Jupiter Asset Management Ltd. now owns 2,210,985 shares of the biotechnology company's stock valued at $21,292,000 after buying an additional 1,879,401 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Ironwood Pharmaceuticals by 160.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,462,300 shares of the biotechnology company's stock worth $23,712,000 after acquiring an additional 1,518,500 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 16,033,545 shares of the biotechnology company's stock worth $183,424,000 after acquiring an additional 1,137,845 shares during the period.

About Ironwood Pharmaceuticals

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.