Fosun International Ltd Invests $6.36 Million in Ironwood Pharmaceuticals, Inc. (IRWD) Stock

Share on StockTwits

Fosun International Ltd acquired a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the 3rd quarter, HoldingsChannel reports. The fund acquired 347,701 shares of the biotechnology company’s stock, valued at approximately $6,363,000.

A number of other hedge funds have also added to or reduced their stakes in IRWD. LPL Financial LLC increased its stake in shares of Ironwood Pharmaceuticals by 16.3% in the first quarter. LPL Financial LLC now owns 21,160 shares of the biotechnology company’s stock valued at $326,000 after buying an additional 2,959 shares in the last quarter. Amalgamated Bank increased its stake in shares of Ironwood Pharmaceuticals by 17.4% in the second quarter. Amalgamated Bank now owns 21,156 shares of the biotechnology company’s stock valued at $405,000 after buying an additional 3,142 shares in the last quarter. Mizuho Securities USA LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the second quarter valued at $3,270,000. Meeder Asset Management Inc. acquired a new stake in shares of Ironwood Pharmaceuticals in the second quarter valued at $186,000. Finally, Aperio Group LLC increased its stake in shares of Ironwood Pharmaceuticals by 34.2% in the second quarter. Aperio Group LLC now owns 21,185 shares of the biotechnology company’s stock valued at $405,000 after buying an additional 5,404 shares in the last quarter. 95.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of IRWD stock opened at $11.98 on Monday. The stock has a market capitalization of $1.85 billion, a P/E ratio of -12.88 and a beta of 1.33. Ironwood Pharmaceuticals, Inc. has a 12 month low of $11.02 and a 12 month high of $21.20.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.24). The company had revenue of $68.69 million during the quarter, compared to analysts’ expectations of $93.48 million. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same period last year, the firm posted ($0.18) EPS. Analysts anticipate that Ironwood Pharmaceuticals, Inc. will post -0.91 EPS for the current year.

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $19.10, for a total transaction of $28,650.00. Following the transaction, the director now owns 91,131 shares in the company, valued at $1,740,602.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark G. Currie sold 130,000 shares of the firm’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 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. Over the last quarter, insiders sold 249,509 shares of company stock valued at $4,488,080. Corporate insiders own 7.63% of the company’s stock.

IRWD has been the subject of a number of research reports. BidaskClub upgraded Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 28th. Credit Suisse Group reiterated a “neutral” rating and issued a $19.00 price objective (down from $22.00) on shares of Ironwood Pharmaceuticals in a research report on Wednesday, November 7th. Wells Fargo & Co lowered their price objective on Ironwood Pharmaceuticals to $18.50 and set an “outperform” rating for the company in a research report on Thursday, November 1st. Morgan Stanley set a $11.00 price objective on Ironwood Pharmaceuticals and gave the stock a “sell” rating in a research report on Wednesday, November 7th. Finally, HC Wainwright set a $13.00 price objective on Ironwood Pharmaceuticals and gave the stock a “sell” rating in a research report on Wednesday, August 22nd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Ironwood Pharmaceuticals currently has an average rating of “Hold” and an average target price of $17.35.

TRADEMARK VIOLATION NOTICE: This news story was published by Macon Daily and is the property of of Macon Daily. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://macondaily.com/2018/11/19/fosun-international-ltd-invests-6-36-million-in-ironwood-pharmaceuticals-inc-irwd-stock.html.

About Ironwood Pharmaceuticals

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.

Read More: Stock Symbols and CUSIP Explained

Want to see what other hedge funds are holding IRWD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD).

Institutional Ownership by Quarter for Ironwood Pharmaceuticals (NASDAQ:IRWD)

Receive News & Ratings for Ironwood Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply