Gotham Asset Management LLC lessened its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 51.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 176,954 shares of the biotechnology company’s stock after selling 186,097 shares during the quarter. Gotham Asset Management LLC owned about 0.13% of Ironwood Pharmaceuticals worth $3,341,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its holdings in Ironwood Pharmaceuticals by 592.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 17,878 shares of the biotechnology company’s stock valued at $338,000 after buying an additional 15,295 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in Ironwood Pharmaceuticals by 3.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 80,693 shares of the biotechnology company’s stock valued at $1,377,000 after buying an additional 2,913 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in Ironwood Pharmaceuticals by 148.4% during the 2nd quarter. State of Wisconsin Investment Board now owns 621,000 shares of the biotechnology company’s stock valued at $11,724,000 after buying an additional 371,000 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Ironwood Pharmaceuticals by 281.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 101,676 shares of the biotechnology company’s stock valued at $1,920,000 after buying an additional 75,055 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Ironwood Pharmaceuticals during the 1st quarter valued at $201,000. Hedge funds and other institutional investors own 97.90% of the company’s stock.
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) opened at 15.62 on Friday. The stock’s market cap is $2.34 billion. Ironwood Pharmaceuticals, Inc. has a 52 week low of $12.48 and a 52 week high of $19.94. The firm’s 50 day moving average price is $15.88 and its 200-day moving average price is $16.88.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued 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 for the quarter, compared to analyst estimates of $70.00 million. Ironwood Pharmaceuticals had a negative net margin of 52.97% and a negative return on equity of 333.83%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the business earned ($0.16) EPS. Analysts expect that Ironwood Pharmaceuticals, Inc. will post ($1.10) EPS for the current year.
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A number of brokerages have weighed in on IRWD. ValuEngine lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Cowen and Company set a $20.00 price target on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 4th. BidaskClub lowered Ironwood Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Mizuho reissued a “buy” rating and set a $23.00 price target (up previously from $22.00) on shares of Ironwood Pharmaceuticals in a research note on Wednesday, August 2nd. Finally, Wedbush reissued a “neutral” rating and set a $13.00 price target on shares of Ironwood Pharmaceuticals in a research note on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Ironwood Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $18.29.
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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