Chicago Equity Partners LLC lessened its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,910 shares of the biotechnology company’s stock after selling 9,255 shares during the period. Chicago Equity Partners LLC’s holdings in Ironwood Pharmaceuticals were worth $2,921,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in IRWD. FMR LLC raised its holdings in Ironwood Pharmaceuticals by 3.1% during the second quarter. FMR LLC now owns 18,088,500 shares of the biotechnology company’s stock valued at $345,852,000 after buying an additional 547,724 shares in the last quarter. Millennium Management LLC bought a new position in Ironwood Pharmaceuticals during the second quarter valued at about $1,287,000. Northern Trust Corp raised its holdings in Ironwood Pharmaceuticals by 5.1% during the second quarter. Northern Trust Corp now owns 1,641,866 shares of the biotechnology company’s stock valued at $31,392,000 after buying an additional 80,100 shares in the last quarter. First Trust Advisors LP raised its holdings in Ironwood Pharmaceuticals by 248.8% during the third quarter. First Trust Advisors LP now owns 173,677 shares of the biotechnology company’s stock valued at $3,206,000 after buying an additional 123,883 shares in the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Ironwood Pharmaceuticals by 23.8% in the third quarter. Alps Advisors Inc. now owns 246,297 shares of the biotechnology company’s stock worth $4,547,000 after purchasing an additional 47,400 shares during the period. 93.85% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Peter M. Hecht sold 89,551 shares of Ironwood Pharmaceuticals stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $12.53, for a total transaction of $1,122,074.03. Following the sale, the chief executive officer now directly owns 4,726,917 shares of the company’s stock, valued at $59,228,270.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Peter M. Hecht sold 30,000 shares of Ironwood Pharmaceuticals stock in a transaction dated Wednesday, January 23rd. The stock was sold at an average price of $12.66, for a total value of $379,800.00. Following the sale, the chief executive officer now directly owns 4,726,917 shares in the company, valued at $59,842,769.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,551 shares of company stock worth $1,526,814. 7.63% of the stock is owned by company insiders.
A number of equities analysts have recently commented on IRWD shares. BidaskClub lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. Mizuho dropped their price objective on Ironwood Pharmaceuticals to $15.00 and set a “buy” rating on the stock in a research note on Monday, November 19th. Wells Fargo & Co dropped their price objective on Ironwood Pharmaceuticals to $18.50 and set an “outperform” rating on the stock in a research note on Thursday, November 1st. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $11.00 price objective (down from $20.00) on shares of Ironwood Pharmaceuticals in a research note on Wednesday, November 7th. Finally, Morgan Stanley set a $11.00 price objective on Ironwood Pharmaceuticals and gave the stock a “sell” rating in a research note on Wednesday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $17.50.
Ironwood Pharmaceuticals stock opened at $14.75 on Thursday. The stock has a market capitalization of $2.14 billion, a PE ratio of -15.86 and a beta of 1.91. Ironwood Pharmaceuticals, Inc. has a 52 week low of $9.07 and a 52 week high of $21.20.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Wednesday, February 13th. The biotechnology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.15. The business had revenue of $130.70 million during the quarter, compared to the consensus estimate of $96.57 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. On average, research analysts predict that Ironwood Pharmaceuticals, Inc. will post -1.08 EPS for the current fiscal year.
Ironwood Pharmaceuticals Company 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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