United Services Automobile Association raised its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 252,089 shares of the biotechnology company’s stock after acquiring an additional 6,400 shares during the period. United Services Automobile Association’s holdings in Ironwood Pharmaceuticals were worth $2,612,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in IRWD. First Trust Advisors LP increased its position in shares of Ironwood Pharmaceuticals by 248.8% in the third quarter. First Trust Advisors LP now owns 173,677 shares of the biotechnology company’s stock valued at $3,206,000 after acquiring an additional 123,883 shares during the period. Swiss National Bank increased its stake in shares of Ironwood Pharmaceuticals by 11.0% in the third quarter. Swiss National Bank now owns 264,500 shares of the biotechnology company’s stock worth $4,883,000 after purchasing an additional 26,200 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ironwood Pharmaceuticals by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 626,367 shares of the biotechnology company’s stock worth $11,564,000 after purchasing an additional 10,717 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Ironwood Pharmaceuticals by 584.7% in the third quarter. PNC Financial Services Group Inc. now owns 116,489 shares of the biotechnology company’s stock worth $2,152,000 after purchasing an additional 99,476 shares in the last quarter. Finally, Bellevue Group AG purchased a new stake in shares of Ironwood Pharmaceuticals in the third quarter worth $1,466,000. Institutional investors and hedge funds own 96.68% of the company’s stock.
IRWD has been the subject of several research reports. BidaskClub lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, December 20th. Mizuho increased their price objective on shares of Ironwood Pharmaceuticals to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 15th. HC Wainwright upgraded shares of Ironwood Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price objective for the company from $11.50 to $14.00 in a research report on Monday, February 25th. JPMorgan Chase & Co. upgraded shares of Ironwood Pharmaceuticals from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 24th. Finally, Wood & Company reiterated a “buy” rating on shares of Ironwood Pharmaceuticals in a research report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.05.
IRWD stock opened at $13.62 on Monday. The company has a market capitalization of $2.11 billion, a P/E ratio of -14.34 and a beta of 1.92. Ironwood Pharmaceuticals, Inc. has a 52 week low of $9.07 and a 52 week high of $21.20.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Wednesday, February 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.15. The business had revenue of $130.70 million for the quarter, compared to analyst estimates of $96.57 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The business’s revenue was up 38.7% on a year-over-year basis. Analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.04 earnings per share for the current fiscal year.
In related news, CFO Gina Consylman sold 5,677 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $14.31, for a total value of $81,237.87. Following the completion of the sale, the chief financial officer now owns 168,543 shares of the company’s stock, valued at approximately $2,411,850.33. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lawrence S. Olanoff sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $14.41, for a total transaction of $28,820.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 403,872 shares of company stock valued at $5,281,958. Company insiders own 7.63% of the company’s stock.
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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; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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