Legal & General Group Plc reduced its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 1.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 45,508 shares of the biotechnology company’s stock after selling 599 shares during the period. Legal & General Group Plc’s holdings in Ironwood Pharmaceuticals were worth $781,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Capital Impact Advisors LLC boosted its stake in Ironwood Pharmaceuticals by 266.9% in the first quarter. Capital Impact Advisors LLC now owns 75,749 shares of the biotechnology company’s stock valued at $1,292,000 after buying an additional 55,103 shares in the last quarter. American Century Companies Inc. bought a new stake in Ironwood Pharmaceuticals during the first quarter valued at approximately $1,879,000. Parametric Portfolio Associates LLC boosted its stake in Ironwood Pharmaceuticals by 3.7% in the first quarter. Parametric Portfolio Associates LLC now owns 80,693 shares of the biotechnology company’s stock valued at $1,377,000 after buying an additional 2,913 shares in the last quarter. Parametrica Management Ltd bought a new stake in Ironwood Pharmaceuticals during the first quarter valued at approximately $258,000. Finally, Karp Capital Management Corp bought a new stake in Ironwood Pharmaceuticals during the first quarter valued at approximately $201,000. 98.16% of the stock is owned by hedge funds and other institutional investors.
Ironwood Pharmaceuticals, Inc. (NASDAQ IRWD) traded down 0.80% on Friday, hitting $14.87. The stock had a trading volume of 1,162,630 shares. The company’s 50-day moving average price is $17.88 and its 200 day moving average price is $17.13. Ironwood Pharmaceuticals, Inc. has a one year low of $12.48 and a one year high of $19.94. The firm’s market cap is $2.22 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.05. The firm had revenue of $65.10 million for the quarter, compared to analyst estimates of $70 million. Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share. Analysts expect that Ironwood Pharmaceuticals, Inc. will post ($1.10) earnings per share for the current year.
Several equities research analysts recently commented on IRWD shares. Wells Fargo & Company set a $19.00 price target on Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, July 22nd. ValuEngine raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Cowen and Company set a $20.00 price objective on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, April 13th. Mizuho reiterated a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Ironwood Pharmaceuticals in a research report on Wednesday, August 2nd. Finally, Wood & Company lowered Ironwood Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $18.50.
In other news, insider Halley E. Gilbert sold 35,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $19.75, for a total transaction of $691,250.00. Following the completion of the sale, the insider now directly owns 35,000 shares in the company, valued at approximately $691,250. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas A. Mccourt sold 30,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $18.20, for a total value of $546,000.00. Following the sale, the insider now owns 30,000 shares of the company’s stock, valued at $546,000. The disclosure for this sale can be found here. Corporate insiders own 7.63% of the company’s stock.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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