Perennial Advisors LLC bought a new position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,950 shares of the biotechnology company’s stock, valued at approximately $243,000.
Several other large investors also recently added to or reduced their stakes in the company. CWM LLC purchased a new stake in Ironwood Pharmaceuticals in the fourth quarter worth $31,000. Pacer Advisors Inc. purchased a new stake in Ironwood Pharmaceuticals in the third quarter worth $177,000. First Manhattan Co. purchased a new stake in Ironwood Pharmaceuticals in the fourth quarter worth $133,000. Gotham Asset Management LLC purchased a new stake in Ironwood Pharmaceuticals in the fourth quarter worth $135,000. Finally, Bank of Montreal Can lifted its stake in Ironwood Pharmaceuticals by 426.9% in the fourth quarter. Bank of Montreal Can now owns 16,846 shares of the biotechnology company’s stock worth $175,000 after acquiring an additional 13,649 shares during the period. 95.50% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. ValuEngine upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. HC Wainwright upgraded Ironwood Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $11.50 to $14.00 in a report on Monday, February 25th. Wood & Company reiterated a “buy” rating on shares of Ironwood Pharmaceuticals in a report on Thursday, January 31st. GMP Securities upgraded Ironwood Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $11.50 to $14.00 in a report on Monday, February 25th. Finally, BidaskClub upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $15.15.
Shares of NASDAQ:IRWD remained flat at $$11.08 on Friday. The stock had a trading volume of 768,978 shares, compared to its average volume of 1,523,708. Ironwood Pharmaceuticals, Inc. has a 1 year low of $9.07 and a 1 year high of $21.20. The company has a market capitalization of $1.71 billion, a P/E ratio of -11.66 and a beta of 1.89.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The firm had revenue of $68.73 million during the quarter, compared to analysts’ expectations of $81.93 million. During the same period in the previous year, the firm earned ($0.25) EPS. Ironwood Pharmaceuticals’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts anticipate that Ironwood Pharmaceuticals, Inc. will post -0.12 earnings per share for the current fiscal year.
In related news, insider Mark G. Currie sold 275,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.26, for a total transaction of $3,646,500.00. Following the sale, the insider now directly owns 577,980 shares of the company’s stock, valued at $7,664,014.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence S. Olanoff sold 2,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $14.41, for a total value of $28,820.00. The disclosure for this sale can be found here. Insiders have sold 281,055 shares of company stock worth $3,718,019 over the last ninety days. 5.90% of the stock is currently owned by insiders.
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; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.
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