Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Sees Large Increase in Short Interest

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 21,950,000 shares, an increase of 16.9% from the March 15th total of 18,770,000 shares. Based on an average trading volume of 4,770,000 shares, the days-to-cover ratio is presently 4.6 days. Approximately 14.5% of the shares of the company are short sold.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, SVP Andrew Davis sold 9,846 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $150,053.04. Following the completion of the sale, the senior vice president now owns 208,324 shares of the company’s stock, valued at approximately $3,174,857.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Ironwood Pharmaceuticals news, SVP Andrew Davis sold 9,846 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $150,053.04. Following the completion of the transaction, the senior vice president now owns 208,324 shares in the company, valued at approximately $3,174,857.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Michael Shetzline sold 38,618 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $588,538.32. Following the transaction, the chief marketing officer now owns 340,484 shares of the company’s stock, valued at approximately $5,188,976.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,008 shares of company stock valued at $4,160,642. 13.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Several large investors have recently bought and sold shares of IRWD. Raymond James & Associates increased its stake in Ironwood Pharmaceuticals by 11.1% during the 1st quarter. Raymond James & Associates now owns 24,117 shares of the biotechnology company’s stock worth $303,000 after buying an additional 2,418 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 8.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 11,021 shares of the biotechnology company’s stock worth $139,000 after purchasing an additional 893 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Ironwood Pharmaceuticals by 6.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 41,253 shares of the biotechnology company’s stock worth $518,000 after purchasing an additional 2,402 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 55.5% during the 1st quarter. MetLife Investment Management LLC now owns 79,249 shares of the biotechnology company’s stock worth $997,000 after purchasing an additional 28,288 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Ironwood Pharmaceuticals by 4.0% during the 1st quarter. Rhumbline Advisers now owns 164,608 shares of the biotechnology company’s stock worth $2,071,000 after purchasing an additional 6,277 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IRWD shares. Craig Hallum started coverage on Ironwood Pharmaceuticals in a research note on Wednesday, January 17th. They issued a “buy” rating and a $21.00 price target for the company. StockNews.com lowered Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, April 6th. Piper Sandler lifted their price target on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, Wells Fargo & Company cut their price target on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.80.

Ironwood Pharmaceuticals Trading Down 1.1 %

NASDAQ:IRWD opened at $7.79 on Tuesday. Ironwood Pharmaceuticals has a 12 month low of $7.71 and a 12 month high of $15.70. The stock has a 50 day moving average of $10.78 and a two-hundred day moving average of $10.77. The firm has a market cap of $1.22 billion, a P/E ratio of -1.20 and a beta of 0.55.

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.