The stock of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) is now priced at $9.78 and the shares are -0.32 points down or -3.17% lower compared to its previous closing price of $10.1. The stock had 1.063 million contracts set over the past session. IRWD shares’ daily volume is compared to its average trading volume at 2.086 million shares. However, it has a float of 155 million and although its performance was -7.65% over the week, it’s one to watch. Analysts have given the IRWD stock a yearly average price target of $12.2 per share. It means the stock’s upside potential is 24.74% with the IRWD share price recently placing at $9.76 to $10.18. However, some brokerage firms have priced the stock below the average, including one that has called $11.
The shorts are climbing into the Ironwood Pharmaceuticals, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the IRWD shares have risen. Short interest in the stock represents just 15.85% of its float, but the volume has raised by 892458. The volume of shorted shares rised to 24.621 million from 23.729 million shares over the last two weeks. The average intraday trading volume has been 1.62 million shares, which means that days to cover moved to roughly 15.195469.
In the last trading session, Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) dropped by -$0.81 over the week and gained $0.05 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.1. The stock recorded its established 52-week high on 12/26/19.
Since 10/02/19, the stock has traded to a low of $7.91 at 23.64%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.47. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Ironwood Pharmaceuticals, Inc.’s two-week RSI is 42.48. This suggests that the stock is neutral at the moment and that IRWD shares’ price movement remains stable. The stochastic readings are equally revealing at 20.23% meaning the IRWD share price is currently in overbought territory.
The technical chart shows that the IRWD stock will likely settle at between $10.05 and $10.33 per share. However, if the stock dips below $9.63, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.49.
Currently, the stock is trading in the red of MACD, with a reading of -0.28. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned IRWD a rating of Outperform in their intiating review released on June 17. Credit Suisse analysts see the stock as a Neutral in a flash note released to investors on July 10 resuming covering the stock. Morgan Stanley seeing the improvements upgraded the stock from Underweight to Equal-Weight on March 27.
The average rating for the IRWD equity is 2.5 and is currently gathering a bullish momentum. Of 6 analysts tracking Ironwood Pharmaceuticals, Inc. polled by Reuters, 4 rated IRWD as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the IRWD stock price is 15.23X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) will decrease by about -99.89%, which will see them reach $97.56 million. The company’s full-year revenues are, however, expected to diminish by about -13.21%, down from $428 million to $372 million. IRWD’s expected adjusted earnings should drop almost -62.5% to end up at $0.15 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -5.45% to record $0.52/share.