Ironwood Pharmaceuticals Inc (NASDAQ: IRWD) stock fell -2.76% on Monday to $9.51 against a previous-day closing price of $9.78. With 1.91 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.6 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $9.78 whereas the lowest price it dropped to was $9.36. The 52-week range on IRWD shows that it touched its highest point at $12.66 and its lowest point at $8.07 during that stretch. It currently has a 1-year price target of $17.40. Beta for the stock currently stands at 0.83.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IRWD was up-trending over the past week, with a rise of 1.28%, but this was up by 3.03% over a month. Three-month performance surged to 1.60% while six-month performance fell -12.35%. The stock lost -16.06% in the past year, while it has lost -23.24% so far this year. A look at the trailing 12-month EPS for IRWD yields -6.24 with Next year EPS estimates of 0.77. For the next quarter, that number is 0.20. This implies an EPS growth rate of -707.81% for this year and 113.20% for next year.
Float and Shares Shorts:
At present, 154.03 million IRWD shares are outstanding with a float of 152.48 million shares on hand for trading. On Oct 30, 2023, short shares totaled 17.39 million, which was 11.14% higher than short shares on Sep 28, 2023. In addition to Ms. Julie H. McHugh as the firm’s Executive Chairman of the Board, Mr. Thomas A. McCourt serves as its CEO & Director.
Through their ownership of 105.26% of IRWD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.00% of IRWD, in contrast to 51.10% held by mutual funds. Shares owned by individuals account for 22.31%. As the largest shareholder in IRWD with 14.24% of the stake, BlackRock Fund Advisors holds 22,219,425 shares worth 22,219,425. A second-largest stockholder of IRWD, Sarissa Capital Management LP, holds 16,390,000 shares, controlling over 10.50% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in IRWD, holding 14,563,350 shares or 9.33% stake. With a 5.94% stake in IRWD, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 9,267,955 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 4.87% of IRWD stock, is the second-largest Mutual Fund holder. It holds 7,601,059 shares valued at 68.18 million. Vanguard Total Stock Market ETF holds 2.66% of the stake in IRWD, owning 4,152,590 shares worth 37.25 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IRWD since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IRWD analysts setting a high price target of $22.00 and a low target of $9.00, the average target price over the next 12 months is $17.40. Based on these targets, IRWD could surge 131.34% to reach the target high and fall by -5.36% to reach the target low. Reaching the average price target will result in a growth of 82.97% from current levels.
Summary of Insider Activity:
Insiders traded IRWD stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 47,968 shares were bought while 0 shares were sold. The number of buy transactions has increased to 28 while that of sell transactions has risen to 32 over the past year. The total number of shares bought during that period was 1,011,655 while 468,848 shares were sold.