Notable Price Action: Ironwood Pharmaceuticals, Inc. Sets 52-Week High; Strong Momentum for Holders

Notable Price Action: Ironwood Pharmaceuticals, Inc. Sets 52 Week High; Strong Momentum for Holders

The stock of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) hit a new 52-week high and has $19.76 target or 28.00% above today’s $15.44 share price. The 8 months bullish chart indicates low risk for the $2.32B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $19.76 price target is reached, the company will be worth $649.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 794,085 shares traded hands. Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has risen 27.42% since April 7, 2016 and is uptrending. It has outperformed by 22.64% the S&P500.

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Ratings Coverage

Out of 10 analysts covering Ironwood Pharmaceuticals (NASDAQ:IRWD), 4 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 40% are positive. Ironwood Pharmaceuticals has been the topic of 19 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Wedbush maintained Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) on Monday, October 24 with “Neutral” rating. On Friday, December 11 the stock rating was initiated by BTIG Research with “Buy”. The stock of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) earned “Buy” rating by Mizuho on Friday, July 15. The stock of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) has “Buy” rating given on Tuesday, May 10 by Mizuho. WallachBeth Capital maintained Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) rating on Tuesday, September 27. WallachBeth Capital has “Hold” rating and $17 price target. The stock of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) earned “Neutral” rating by Wedbush on Friday, February 19. The firm earned “Equal-Weight” rating on Friday, February 19 by Barclays Capital. The rating was maintained by Wedbush with “Neutral” on Thursday, April 28. The firm has “Buy” rating by Mizuho given on Friday, November 4. As per Wednesday, April 6, the company rating was upgraded by Cowen & Co.

According to Zacks Investment Research, “Ironwood Pharmaceuticals is an entrepreneurial pharmaceutical company that discovers, develops, and intends to commercialize innovative human medicines. The Company’s first in class compound, Linaclotide, is being evaluated in a confirmatory Phase 3 program for the treatment of irritable bowel syndrome with constipation and chronic constipation. The Company also focuses on one Phase 1 pain drug candidate and multiple preclinical programs, as well as on building a specialty biochemicals business based on a proprietary strain-development platform. Ironwood also has a growing pipeline of additional drug candidates in earlier stages of development. Ironwood is headquartered in Cambridge, Massachusetts.”

Insitutional Activity: The institutional sentiment increased to 1.6 in 2016 Q2. Its up 0.36, from 1.24 in 2016Q1. The ratio increased, as 13 funds sold all Ironwood Pharmaceuticals, Inc. shares owned while 34 reduced positions. 22 funds bought stakes while 53 increased positions. They now own 136.24 million shares or 2.82% less from 140.19 million shares in 2016Q1.
Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% of its portfolio in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) for 2,839 shares. Parametric Port Assoc Llc holds 0% or 60,395 shares in its portfolio. The Manitoba – Canada-based Great West Life Assurance Can has invested 0% in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD). Walleye Trading Limited Liability Corp holds 0% or 1,100 shares in its portfolio. Bnp Paribas Arbitrage Sa holds 0% or 5,026 shares in its portfolio. D E Shaw & Com holds 295,455 shares or 0.01% of its portfolio. Bancorp Of Montreal Can last reported 0% of its portfolio in the stock. Bridger Management Ltd Com reported 5.92M shares or 5% of all its holdings. Thrivent For Lutherans, a Minnesota-based fund reported 171,386 shares. Moreover, Dekabank Deutsche Girozentrale has 0.01% invested in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) for 59,100 shares. Broderick Brian C accumulated 154,476 shares or 0.85% of the stock. Lpl Fincl Ltd holds 0% of its portfolio in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) for 22,042 shares. Granahan Investment Mgmt Ma last reported 0.54% of its portfolio in the stock. The Connecticut-based Point72 Asset Management Lp has invested 0.1% in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD). Quantitative Invest Mngmt Ltd Liability Corporation has 0.04% invested in the company for 72,500 shares.

Insider Transactions: Since May 25, 2016, the stock had 0 buys, and 4 sales for $322,283 net activity. 3,200 Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) shares with value of $43,904 were sold by OLANOFF LAWRENCE S. $2,803 worth of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) was sold by Consylman Gina. $247,152 worth of shares were sold by Gilbert Halley E on Wednesday, May 25.

IRWD Company Profile

Ironwood Pharmaceuticals, Inc., incorporated on January 5, 1998, is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders. The Firm operates through human therapeutics segment. Linaclotide is also being developed and commercialized in other parts of the world by certain of its partners. The Company’s product, linaclotide, which is available in the United States under the brand name LINZESS, and is available in European countries under the brand name CONSTELLA. The Firm in collaboration with Astellas Pharma Inc. (Astellas) is engaged in advancing linaclotide colonic release, a second-generation product candidate with the potential to improve abdominal pain relief in adult IBS-C patients, as well as in patients with additional GI, disorders where lower abdominal pain is a predominant symptom, such as IBS-mixed (IBS-M), ulcerative colitis and diverticulitis. In addition, the Company is engaged in developing therapeutic platforms for the treatment of vascular and fibrotic diseases, and refractory gastroesophageal reflux disease (GERD).

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