Private Wealth Partners LLC increased its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 286.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 49,580 shares of the biotechnology company’s stock after buying an additional 36,750 shares during the period. Private Wealth Partners LLC’s holdings in Ironwood Pharmaceuticals were worth $936,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio boosted its position in Ironwood Pharmaceuticals by 132.1% in the first quarter. Strs Ohio now owns 6,500 shares of the biotechnology company’s stock worth $110,000 after buying an additional 3,700 shares during the last quarter. Jane Street Group LLC bought a new position in Ironwood Pharmaceuticals during the first quarter worth approximately $194,000. Karp Capital Management Corp bought a new position in Ironwood Pharmaceuticals during the first quarter worth approximately $201,000. Raymond James Financial Services Advisors Inc. boosted its position in 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. Finally, KCG Holdings Inc. raised its stake in Ironwood Pharmaceuticals by 20.5% in the first quarter. KCG Holdings Inc. now owns 14,270 shares of the biotechnology company’s stock worth $243,000 after buying an additional 2,428 shares during the period. Hedge funds and other institutional investors own 97.85% of the company’s stock.
Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) opened at 14.86 on Wednesday. The stock’s 50 day moving average is $17.50 and its 200-day moving average is $17.19. Ironwood Pharmaceuticals, Inc. has a 52 week low of $12.48 and a 52 week high of $19.94. The firm’s market cap is $2.22 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results 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. Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. The company had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $70 million. During the same quarter last year, the company earned ($0.16) EPS. Ironwood Pharmaceuticals’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, equities analysts predict that Ironwood Pharmaceuticals, Inc. will post ($1.10) EPS for the current fiscal year.
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A number of research firms recently weighed in on IRWD. BidaskClub lowered shares of Ironwood Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Cowen and Company set a $20.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 4th. Mizuho reaffirmed a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Ironwood Pharmaceuticals in a research note on Wednesday, August 2nd. ValuEngine lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Wells Fargo & Company set a $19.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.50.
In other news, insider Halley E. Gilbert sold 35,000 shares of the company’s stock in a transaction that occurred 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 owns 35,000 shares in the company, valued at $691,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.63% of the stock is owned by corporate 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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