Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 21,950,000 shares, a growth of 16.9% from the March 15th total of 18,770,000 shares. Currently, 14.5% of the company’s stock are sold short. Based on an average daily volume of 4,770,000 shares, the days-to-cover ratio is currently 4.6 days.
Ironwood Pharmaceuticals Stock Performance
Ironwood Pharmaceuticals stock opened at $7.79 on Tuesday. The stock has a market cap of $1.22 billion, a PE ratio of -1.20 and a beta of 0.55. Ironwood Pharmaceuticals has a one year low of $7.71 and a one year high of $15.70. The stock has a fifty day moving average of $10.78 and a 200 day moving average of $10.77.
Insider Activity at Ironwood Pharmaceuticals
In related news, CEO Thomas A. Mccourt sold 177,164 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 832,774 shares in the company, valued at $12,691,475.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jon R. Duane bought 6,920 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $8.70 per share, with a total value of $60,204.00. Following the completion of the acquisition, the director now owns 121,028 shares of the company’s stock, valued at approximately $1,052,943.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas A. Mccourt sold 177,164 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $2,699,979.36. Following the completion of the sale, the chief executive officer now directly owns 832,774 shares in the company, valued at $12,691,475.76. The disclosure for this sale can be found here. Insiders have sold 273,008 shares of company stock worth $4,160,642 over the last ninety days. 13.10% of the stock is owned by corporate insiders.
Institutional Trading of Ironwood Pharmaceuticals
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Piper Sandler upped their price target on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, February 16th. StockNews.com downgraded Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, April 6th. Finally, Craig Hallum assumed coverage on Ironwood Pharmaceuticals in a report on Wednesday, January 17th. They set a “buy” rating and a $21.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.80.
Read Our Latest Stock Analysis on Ironwood Pharmaceuticals
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.
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