Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Stake Cut by Legal & General Group Plc

Legal & General Group Plc reduced its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in shares of Ironwood Pharmaceuticals by 0.3% in the first quarter. Principal Financial Group Inc. now owns 24,051 shares of the biotechnology company’s stock worth $410,000 after buying an additional 62 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Ironwood Pharmaceuticals by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,161 shares of the biotechnology company’s stock worth $207,000 after buying an additional 898 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Ironwood Pharmaceuticals by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 225,596 shares of the biotechnology company’s stock worth $3,449,000 after buying an additional 1,859 shares during the last quarter. Swiss National Bank increased its position in shares of Ironwood Pharmaceuticals by 1.2% in the first quarter. Swiss National Bank now owns 205,300 shares of the biotechnology company’s stock worth $3,502,000 after buying an additional 2,400 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Ironwood Pharmaceuticals by 3.7% in the first quarter. Parametric Portfolio Associates LLC now owns 80,693 shares of the biotechnology company’s stock worth $1,377,000 after buying an additional 2,913 shares during the last quarter. Institutional investors and hedge funds own 97.85% of the company’s stock.

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ IRWD) remained flat at $14.50 on Friday. The stock had a trading volume of 1,294,448 shares. The firm’s 50-day moving average price is $17.19 and its 200 day moving average price is $17.15. The company’s market cap is $2.17 billion. Ironwood Pharmaceuticals, Inc. has a 52-week low of $12.48 and a 52-week high of $19.94.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.05. The company had revenue of $65.10 million during the quarter, compared to analyst estimates of $70 million. Ironwood Pharmaceuticals had a negative net margin of 52.97% and a negative return on equity of 333.83%. Ironwood Pharmaceuticals’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) EPS. Equities research analysts expect that Ironwood Pharmaceuticals, Inc. will post ($1.10) EPS for the current year.

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A number of research analysts recently commented on the company. BidaskClub upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Zacks Investment Research upgraded Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 17th. Mizuho upped their price objective on Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. ValuEngine upgraded Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Wedbush reaffirmed a “neutral” rating and set a $13.00 target price on shares of Ironwood Pharmaceuticals in a report on Friday, June 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $18.50.

In related news, insider Halley E. Gilbert sold 35,000 shares of Ironwood Pharmaceuticals stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $19.75, for a total value of $691,250.00. Following the sale, the insider now owns 35,000 shares of the company’s stock, valued at $691,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.63% of the stock is currently owned by insiders.

Ironwood Pharmaceuticals Company Profile

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.

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

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