Rafferty Asset Management LLC Lowers Stock Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Rafferty Asset Management LLC cut its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 40.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 236,732 shares of the biotechnology company’s stock after selling 159,932 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.15% of Ironwood Pharmaceuticals worth $1,049,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IRWD. Pacer Advisors Inc. lifted its holdings in Ironwood Pharmaceuticals by 4.0% during the fourth quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock valued at $51,967,000 after purchasing an additional 450,949 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ironwood Pharmaceuticals by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,983,240 shares of the biotechnology company’s stock valued at $8,786,000 after purchasing an additional 78,969 shares during the period. SG Americas Securities LLC purchased a new position in shares of Ironwood Pharmaceuticals during the 4th quarter valued at $53,000. Amundi boosted its holdings in Ironwood Pharmaceuticals by 168.4% in the 4th quarter. Amundi now owns 61,979 shares of the biotechnology company’s stock worth $284,000 after buying an additional 38,889 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in Ironwood Pharmaceuticals by 2,625.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 331,700 shares of the biotechnology company’s stock worth $1,469,000 after buying an additional 319,528 shares during the period.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD opened at $0.59 on Thursday. The stock has a market capitalization of $95.31 million, a price-to-earnings ratio of -19.63 and a beta of 0.37. Ironwood Pharmaceuticals, Inc. has a 1 year low of $0.53 and a 1 year high of $7.11. The business’s 50 day simple moving average is $1.01 and its 200-day simple moving average is $2.48.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.09). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business had revenue of $41.14 million during the quarter, compared to the consensus estimate of $67.02 million. On average, sell-side analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IRWD shares. JMP Securities decreased their price target on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a report on Thursday, January 30th. Leerink Partners lowered their price target on Ironwood Pharmaceuticals from $3.00 to $1.00 and set a “market perform” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $1.00 price target (down from $7.00) on shares of Ironwood Pharmaceuticals in a research note on Tuesday, April 15th. Citizens Jmp cut shares of Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, April 14th. Finally, StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.78.

Ironwood Pharmaceuticals Profile

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.