Ironwood Pharmaceuticals (NASDAQ:IRWD) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IRWD shares. Wells Fargo & Company increased their price objective on Ironwood Pharmaceuticals from $1.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Zacks Research downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday. One 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’s stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $5.34.

Ironwood Pharmaceuticals Stock Down 1.8%

The company has a market cap of $520.58 million, a P/E ratio of 20.00 and a beta of 0.18. The business has a fifty day simple moving average of $2.87 and a two-hundred day simple moving average of $1.68.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Monday, November 10th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $74.22 million. On average, equities analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in Ironwood Pharmaceuticals by 248.3% during the third quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock valued at $15,321,000 after purchasing an additional 8,337,672 shares in the last quarter. Armistice Capital LLC raised its stake in shares of Ironwood Pharmaceuticals by 44.7% in the first quarter. Armistice Capital LLC now owns 13,700,000 shares of the biotechnology company’s stock worth $20,139,000 after buying an additional 4,232,000 shares during the period. Millennium Management LLC lifted its position 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 buying an additional 4,140,439 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Ironwood Pharmaceuticals by 147.6% during the 2nd quarter. Acadian Asset Management LLC now owns 6,549,687 shares of the biotechnology company’s stock valued at $4,685,000 after acquiring an additional 3,904,498 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Ironwood Pharmaceuticals by 144.3% in the 2nd quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock worth $4,422,000 after acquiring an additional 3,641,762 shares in the last quarter.

About Ironwood Pharmaceuticals

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.