Ironwood Pharmaceuticals Sees Unusually Large Options Volume (IRWD)

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was the target of some unusual options trading activity on Wednesday. Traders bought 590 put options on the stock. This is an increase of approximately 822% compared to the average daily volume of 64 put options.

In other news, insider Halley E. Gilbert sold 29,551 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $19.75, for a total value of $583,632.25. Following the completion of the transaction, the insider now owns 29,551 shares of the company’s stock, valued at $583,632.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Julie Mchugh sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $17.62, for a total transaction of $26,430.00. Following the completion of the transaction, the director now directly owns 92,631 shares of the company’s stock, valued at approximately $1,632,158.22. The disclosure for this sale can be found here. In the last three months, insiders sold 61,051 shares of company stock valued at $1,210,062. Insiders own 7.63% of the company’s stock.

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Ironwood Pharmaceuticals in the first quarter valued at approximately $138,000. Quantitative Systematic Strategies LLC acquired a new stake in Ironwood Pharmaceuticals in the first quarter valued at approximately $180,000. Meeder Asset Management Inc. acquired a new stake in Ironwood Pharmaceuticals in the second quarter valued at approximately $186,000. A.R.T. Advisors LLC acquired a new stake in Ironwood Pharmaceuticals in the first quarter valued at approximately $208,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in Ironwood Pharmaceuticals in the fourth quarter valued at approximately $220,000. 99.63% of the stock is currently owned by hedge funds and other institutional investors.

IRWD has been the subject of several recent research reports. Morgan Stanley reissued an “underweight” rating and issued a $13.00 price objective on shares of Ironwood Pharmaceuticals in a research note on Wednesday, May 9th. BidaskClub raised shares of Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, July 6th. Cowen reaffirmed a “market perform” rating on shares of Ironwood Pharmaceuticals in a report on Wednesday, July 18th. ValuEngine raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Finally, Berenberg Bank started coverage on shares of Ironwood Pharmaceuticals in a report on Thursday, April 19th. They issued a “buy” rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $19.11.

Shares of NASDAQ:IRWD opened at $18.26 on Friday. The company has a market capitalization of $2.88 billion, a P/E ratio of -19.63 and a beta of 0.81. Ironwood Pharmaceuticals has a fifty-two week low of $12.89 and a fifty-two week high of $21.20. The company has a debt-to-equity ratio of -8.64, a quick ratio of 2.93 and a current ratio of 2.94.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Monday, August 6th. The biotechnology company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.09). The firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $82.61 million. Ironwood Pharmaceuticals had a negative net margin of 34.03% and a negative return on equity of 2,073.20%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same period last year, the business earned ($0.28) EPS. analysts predict that Ironwood Pharmaceuticals will post -0.78 earnings per share for the current fiscal year.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.

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