Stock Traders Purchase Large Volume of Ironwood Pharmaceuticals Put Options (IRWD)

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw some unusual options trading on Wednesday. Stock investors acquired 1,276 put options on the company. This represents an increase of approximately 1,139% compared to the typical daily volume of 103 put options.

In other news, insider Mark G. Currie sold 116,651 shares of the company’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $17.53, for a total value of $2,044,892.03. Following the transaction, the insider now owns 70,680 shares in the company, valued at approximately $1,239,020.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark G. Currie sold 130,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $18.45, for a total value of $2,398,500.00. Following the completion of the transaction, the insider now owns 791,666 shares in the company, valued at approximately $14,606,237.70. The disclosure for this sale can be found here. Insiders sold a total of 248,339 shares of company stock worth $4,475,466 in the last quarter. 7.63% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new stake in Ironwood Pharmaceuticals during the second quarter worth approximately $186,000. A.R.T. Advisors LLC bought a new stake in Ironwood Pharmaceuticals during the first quarter worth approximately $208,000. Campbell & CO Investment Adviser LLC bought a new stake in Ironwood Pharmaceuticals during the third quarter worth approximately $249,000. V Wealth Management LLC bought a new stake in Ironwood Pharmaceuticals during the second quarter worth approximately $258,000. Finally, PNC Financial Services Group Inc. boosted its position in Ironwood Pharmaceuticals by 17,621.9% during the second quarter. PNC Financial Services Group Inc. now owns 17,013 shares of the biotechnology company’s stock worth $325,000 after purchasing an additional 16,917 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

NASDAQ:IRWD opened at $12.08 on Friday. Ironwood Pharmaceuticals has a 52 week low of $11.81 and a 52 week high of $21.20. The company has a market capitalization of $1.96 billion, a P/E ratio of -12.99 and a beta of 1.33.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.24). The company had revenue of $68.69 million during the quarter, compared to analysts’ expectations of $93.48 million. During the same quarter in the prior year, the company earned ($0.18) EPS. The business’s revenue was down 20.9% compared to the same quarter last year. Analysts expect that Ironwood Pharmaceuticals will post -0.73 EPS for the current fiscal year.

A number of equities analysts have recently weighed in on IRWD shares. HC Wainwright set a $13.00 target price on Ironwood Pharmaceuticals and gave the company a “sell” rating in a report on Monday, September 17th. Wells Fargo & Co set a $23.00 target price on Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 8th. BidaskClub downgraded Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Cowen restated a “market perform” rating on shares of Ironwood Pharmaceuticals in a report on Wednesday, July 18th. Finally, Morgan Stanley set a $11.00 price objective on Ironwood Pharmaceuticals and gave the stock a “sell” rating in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Ironwood Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $17.35.

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Ironwood Pharmaceuticals Company Profile

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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