Insider Selling: Ironwood Pharmaceuticals (NASDAQ:IRWD) Director Sells 6,730,800 Shares of Stock

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Director Alexander Denner sold 6,730,800 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $3.05, for a total transaction of $20,528,940.00. Following the completion of the sale, the director owned 9,188,635 shares of the company’s stock, valued at $28,025,336.75. This trade represents a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ironwood Pharmaceuticals Stock Down 3.6%

Shares of IRWD traded down $0.12 during mid-day trading on Tuesday, reaching $3.25. The company had a trading volume of 10,410,646 shares, compared to its average volume of 3,199,902. Ironwood Pharmaceuticals, Inc. has a 52-week low of $0.53 and a 52-week high of $5.78. The stock has a market capitalization of $528.71 million, a P/E ratio of 25.00 and a beta of 0.24. The stock has a 50 day moving average of $4.28 and a two-hundred day moving average of $3.04.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Wednesday, February 25th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Ironwood Pharmaceuticals had a negative return on equity of 13.72% and a net margin of 8.11%.The business had revenue of $47.71 million for the quarter, compared to analyst estimates of $86.10 million. On average, sell-side analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Armistice Capital LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 17.9% in the second quarter. Armistice Capital LLC now owns 16,150,000 shares of the biotechnology company’s stock worth $11,583,000 after buying an additional 2,450,000 shares during the period. Bank of America Corp DE increased its holdings in Ironwood Pharmaceuticals by 248.3% in the third quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock worth $15,321,000 after buying an additional 8,337,672 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Ironwood Pharmaceuticals by 186.6% during the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after purchasing an additional 4,140,439 shares in the last quarter. AQR Capital Management LLC raised its holdings in 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 buying an additional 3,641,762 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Ironwood Pharmaceuticals by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,975,939 shares of the biotechnology company’s stock worth $16,769,000 after purchasing an additional 58,603 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Citigroup raised shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, January 5th. Jefferies Financial Group reissued a “hold” rating and issued a $3.70 target price on shares of Ironwood Pharmaceuticals in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ironwood Pharmaceuticals currently has an average rating of “Hold” and an average target price of $4.93.

Ironwood Pharmaceuticals Company Profile

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.