Short Interest in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Drops By 10.6%

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw a significant decrease in short interest in June. As of June 30th, there was short interest totalling 18,070,000 shares, a decrease of 10.6% from the June 15th total of 20,220,000 shares. Currently, 11.7% of the shares of the company are short sold. Based on an average trading volume of 2,610,000 shares, the short-interest ratio is currently 6.9 days.

Ironwood Pharmaceuticals Price Performance

Ironwood Pharmaceuticals stock remained flat at $6.88 during mid-day trading on Wednesday. 392,593 shares of the company’s stock were exchanged, compared to its average volume of 3,624,364. Ironwood Pharmaceuticals has a 12 month low of $5.47 and a 12 month high of $15.70. The company has a market cap of $1.08 billion, a P/E ratio of -1.01 and a beta of 0.52. The business’s 50-day simple moving average is $6.36 and its 200-day simple moving average is $9.31.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.20). Ironwood Pharmaceuticals had a negative net margin of 254.41% and a negative return on equity of 28.45%. The company had revenue of $74.90 million during the quarter, compared to analysts’ expectations of $105.75 million. During the same period last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was down 28.0% on a year-over-year basis. On average, analysts anticipate that Ironwood Pharmaceuticals will post 0.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on IRWD. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday. Craig Hallum reduced their price objective on shares of Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $18.40.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 22,766 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $6.29, for a total value of $143,198.14. Following the completion of the transaction, the director now owns 139,528 shares in the company, valued at $877,631.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Catherine Moukheibir sold 44,426 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $6.36, for a total transaction of $282,549.36. Following the completion of the sale, the director now owns 84,207 shares in the company, valued at $535,556.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Julie Mchugh sold 22,766 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $6.29, for a total transaction of $143,198.14. Following the sale, the director now owns 139,528 shares of the company’s stock, valued at approximately $877,631.12. The disclosure for this sale can be found here. 12.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IRWD. Old West Investment Management LLC increased its stake in shares of Ironwood Pharmaceuticals by 1.4% during the 4th quarter. Old West Investment Management LLC now owns 56,921 shares of the biotechnology company’s stock worth $651,000 after purchasing an additional 761 shares in the last quarter. Signaturefd LLC increased its stake in shares of Ironwood Pharmaceuticals by 61.4% during the 4th quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 822 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in shares of Ironwood Pharmaceuticals by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 68,745 shares of the biotechnology company’s stock worth $786,000 after purchasing an additional 980 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Ironwood Pharmaceuticals by 10.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,330 shares of the biotechnology company’s stock worth $175,000 after purchasing an additional 1,483 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in shares of Ironwood Pharmaceuticals by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 120,245 shares of the biotechnology company’s stock worth $1,047,000 after purchasing an additional 1,557 shares in 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.