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.
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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.
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