Chicago Equity Partners LLC raised its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,275 shares of the biotechnology company’s stock after acquiring an additional 23,525 shares during the period. Chicago Equity Partners LLC’s holdings in Ironwood Pharmaceuticals were worth $4,671,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Ironwood Pharmaceuticals during the first quarter valued at about $138,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Ironwood Pharmaceuticals during the first quarter worth about $180,000. Meeder Asset Management Inc. acquired a new position in shares of Ironwood Pharmaceuticals during the second quarter worth about $186,000. A.R.T. Advisors LLC acquired a new position in shares of Ironwood Pharmaceuticals during the first quarter worth about $208,000. Finally, V Wealth Management LLC acquired a new position in shares of Ironwood Pharmaceuticals during the second quarter worth about $258,000. 97.16% of the stock is owned by hedge funds and other institutional investors.
Shares of IRWD opened at $19.17 on Friday. Ironwood Pharmaceuticals, Inc. has a 12 month low of $12.89 and a 12 month high of $21.20. The company has a quick ratio of 2.93, a current ratio of 2.94 and a debt-to-equity ratio of -8.64.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Monday, August 6th. The biotechnology company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.09). Ironwood Pharmaceuticals had a negative return on equity of 2,073.20% and a negative net margin of 34.03%. The company had revenue of $81.10 million for the quarter, compared to analyst estimates of $82.61 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. equities analysts forecast that Ironwood Pharmaceuticals, Inc. will post -0.78 earnings per share for the current year.
In related news, Director Julie Mchugh sold 1,500 shares of the business’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $17.62, for a total value of $26,430.00. Following the transaction, the director now owns 92,631 shares in the company, valued at $1,632,158.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark G. Currie sold 130,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $18.45, for a total value of $2,398,500.00. Following the completion of the transaction, the insider now owns 791,666 shares in the company, valued at approximately $14,606,237.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,239 shares of company stock worth $3,611,986. Insiders own 7.63% of the company’s stock.
A number of research analysts have commented on IRWD shares. Wells Fargo & Co boosted their price objective on Ironwood Pharmaceuticals from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, May 31st. ValuEngine upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Cowen restated a “market perform” rating on shares of Ironwood Pharmaceuticals in a research note on Wednesday, July 18th. HC Wainwright set a $13.00 price objective on Ironwood Pharmaceuticals and gave the stock a “sell” rating in a research note on Tuesday, August 7th. Finally, BidaskClub upgraded Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $19.00.
Ironwood Pharmaceuticals Profile
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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