Renaissance Technologies LLC bought a new position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 186,453 shares of the biotechnology company’s stock, valued at approximately $3,181,000.
Other hedge funds also recently added to or reduced their stakes in the company. Karp Capital Management Corp bought a new stake in Ironwood Pharmaceuticals during the first quarter worth $201,000. UBS Asset Management Americas Inc. increased its stake in Ironwood Pharmaceuticals by 2,537.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,342,763 shares of the biotechnology company’s stock worth $22,908,000 after buying an additional 1,291,848 shares during the last quarter. Swiss National Bank increased its stake in 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. Pictet Asset Management Ltd. increased its stake in Ironwood Pharmaceuticals by 68.3% in the first quarter. Pictet Asset Management Ltd. now owns 1,631,192 shares of the biotechnology company’s stock worth $27,828,000 after buying an additional 661,868 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in Ironwood Pharmaceuticals during the first quarter worth $1,879,000. Hedge funds and other institutional investors own 98.16% of the company’s stock.
Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) traded down 0.80% during midday trading on Friday, hitting $14.87. The stock had a trading volume of 1,162,630 shares. The firm’s 50-day moving average price is $17.75 and its 200-day moving average price is $17.13. Ironwood Pharmaceuticals, Inc. has a 1-year low of $12.48 and a 1-year high of $19.94. The stock’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 the Thomson Reuters’ consensus estimate of ($0.23) by $0.05. The company had revenue of $65.10 million during the quarter, compared to analysts’ expectations of $70 million. Ironwood Pharmaceuticals had a negative return on equity of 1,028.09% and a negative net margin of 67.96%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) EPS. Analysts forecast that Ironwood Pharmaceuticals, Inc. will post ($1.10) earnings per share for the current year.
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IRWD has been the subject of several recent analyst reports. BidaskClub upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report 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 stock a “buy” rating in a research report on Tuesday, July 4th. ValuEngine upgraded Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Wedbush restated a “neutral” rating and set a $13.00 price objective on shares of Ironwood Pharmaceuticals in a research report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Ironwood Pharmaceuticals 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 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 transaction, the insider now owns 35,000 shares in the company, valued at $691,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas A. Mccourt sold 30,000 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $18.20, for a total value of $546,000.00. Following the completion of the transaction, the insider now owns 30,000 shares in the company, valued at approximately $546,000. The disclosure for this sale can be found here. 7.63% of the stock is currently owned by insiders.
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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