Ironwood Pharmaceuticals (NASDAQ:IRWD) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.30 and traded as high as $5.00. Ironwood Pharmaceuticals shares last traded at $4.86, with a volume of 1,594,030 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citizens Jmp upgraded Ironwood Pharmaceuticals from a “market perform” rating to a “market outperform” rating and set a $8.00 price target on the stock in a research report on Monday, January 5th. Wells Fargo & Company raised their target price on shares of Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Citigroup raised shares of Ironwood Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, January 5th. Craig Hallum raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.68.

Ironwood Pharmaceuticals Stock Performance

The firm has a market capitalization of $790.62 million, a PE ratio of 30.38 and a beta of 0.18. The stock’s 50-day simple moving average is $3.92 and its 200-day simple moving average is $2.30.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Monday, November 10th. The biotechnology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.09 by $0.15. Ironwood Pharmaceuticals had a net margin of 8.70% and a negative return on equity of 15.17%. The firm had revenue of $122.06 million during the quarter, compared to analysts’ expectations of $74.22 million. As a group, analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Armistice Capital LLC raised its position in shares of Ironwood Pharmaceuticals by 17.9% in the 2nd quarter. Armistice Capital LLC now owns 16,150,000 shares of the biotechnology company’s stock worth $11,583,000 after acquiring an additional 2,450,000 shares in the last quarter. Bank of America Corp DE grew its stake in Ironwood Pharmaceuticals by 248.3% in the third quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock worth $15,321,000 after purchasing an additional 8,337,672 shares during the period. Acadian Asset Management LLC raised its holdings in Ironwood Pharmaceuticals by 147.6% in the second quarter. Acadian Asset Management LLC now owns 6,549,687 shares of the biotechnology company’s stock worth $4,685,000 after purchasing an additional 3,904,498 shares in the last quarter. Millennium Management LLC raised its holdings in Ironwood Pharmaceuticals by 186.6% in the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock worth $9,349,000 after purchasing an additional 4,140,439 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Ironwood Pharmaceuticals by 144.3% during the second quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock valued at $4,422,000 after buying an additional 3,641,762 shares during the period.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.