State of Wyoming decreased its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Free Report) by 56.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 157,325 shares of the biotechnology company’s stock after selling 205,082 shares during the quarter. State of Wyoming owned 0.10% of Ironwood Pharmaceuticals worth $530,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. LSV Asset Management acquired a new position in Ironwood Pharmaceuticals in the 4th quarter worth about $30,000. Simplify Asset Management Inc. acquired a new position in Ironwood Pharmaceuticals in the 4th quarter worth about $37,000. MQS Management LLC acquired a new position in Ironwood Pharmaceuticals in the 4th quarter worth about $42,000. Calamos Advisors LLC acquired a new position in Ironwood Pharmaceuticals in the 4th quarter worth about $49,000. Finally, Integrated Wealth Concepts LLC raised its holdings in Ironwood Pharmaceuticals by 21.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 3,406 shares during the period.
Insider Activity at Ironwood Pharmaceuticals
In other Ironwood Pharmaceuticals news, Director Alexander J. Denner sold 6,730,800 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $3.05, for a total transaction of $20,528,940.00. Following the completion of the transaction, the director owned 9,188,635 shares of the company’s stock, valued at $28,025,336.75. This represents a 42.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.30% of the stock is owned by insiders.
Ironwood Pharmaceuticals Price Performance
Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Free Report) last announced its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. The firm had revenue of $106.51 million for the quarter, compared to analyst estimates of $92.11 million. As a group, research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.04 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms recently weighed in on IRWD. Jefferies Financial Group reaffirmed a “hold” rating and issued a $3.70 price target on shares of Ironwood Pharmaceuticals in a report on Thursday, February 26th. Zacks Research cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Citizens Jmp increased their target price on Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. Wall Street Zen raised Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Sunday, May 17th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.23.
Check Out Our Latest Stock Analysis on IRWD
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.
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