Ironwood Pharmaceuticals (NASDAQ:IRWD) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

by · The Cerbat Gem

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.66 and traded as high as $3.28. Ironwood Pharmaceuticals shares last traded at $3.2460, with a volume of 583,965 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IRWD shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday. Wells Fargo & Company lifted their target price on Ironwood Pharmaceuticals from $1.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Finally, Zacks Research cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.34.

View Our Latest Analysis on IRWD

Ironwood Pharmaceuticals Stock Up 1.1%

The firm’s 50 day simple moving average is $2.83 and its 200 day simple moving average is $1.66. The company has a market cap of $528.06 million, a price-to-earnings ratio of 20.29 and a beta of 0.18.

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Free Report) last issued its quarterly earnings data on Monday, November 10th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.15. Ironwood Pharmaceuticals had a negative return on equity of 15.17% and a net margin of 8.70%.The business had revenue of $122.06 million during the quarter, compared to analyst estimates of $74.22 million. Analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Armistice Capital LLC grew its position in Ironwood Pharmaceuticals by 17.9% in the 2nd quarter. Armistice Capital LLC now owns 16,150,000 shares of the biotechnology company’s stock valued at $11,583,000 after buying an additional 2,450,000 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Ironwood Pharmaceuticals by 248.3% in the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock worth $15,321,000 after acquiring an additional 8,337,672 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Ironwood Pharmaceuticals by 147.6% in the 2nd quarter. Acadian Asset Management LLC now owns 6,549,687 shares of the biotechnology company’s stock worth $4,685,000 after acquiring an additional 3,904,498 shares during the period. Millennium Management LLC boosted its holdings 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 valued at $9,349,000 after acquiring an additional 4,140,439 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Ironwood Pharmaceuticals by 144.3% during the second quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock valued at $4,422,000 after acquiring an additional 3,641,762 shares during the period.

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.

Read More