Ironwood Pharmaceuticals, Inc. $IRWD Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,061,073 shares of the biotechnology company’s stock after selling 143,900 shares during the period. Renaissance Technologies LLC’s holdings in Ironwood Pharmaceuticals were worth $28,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in IRWD. Integrated Wealth Concepts LLC grew its holdings in Ironwood Pharmaceuticals by 21.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,295 shares of the biotechnology company’s stock worth $25,000 after buying an additional 3,406 shares in the last quarter. LSV Asset Management acquired a new stake in Ironwood Pharmaceuticals in the 4th quarter valued at approximately $30,000. Captrust Financial Advisors bought a new stake in Ironwood Pharmaceuticals during the 2nd quarter valued at $32,000. Jump Financial LLC acquired a new position in Ironwood Pharmaceuticals during the 4th quarter worth $34,000. Finally, DGS Capital Management LLC acquired a new position in Ironwood Pharmaceuticals during the 4th quarter worth $35,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research note on Friday. Zacks Research raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.23.

Ironwood Pharmaceuticals Price Performance

NASDAQ IRWD opened at $3.80 on Wednesday. Ironwood Pharmaceuticals, Inc. has a 12 month low of $0.71 and a 12 month high of $5.78. The firm has a market capitalization of $619.63 million, a PE ratio of 6.33 and a beta of 0.20. The company’s 50 day simple moving average is $3.85 and its 200 day simple moving average is $3.98.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The firm had revenue of $106.51 million during the quarter, compared to analyst estimates of $92.11 million. Ironwood Pharmaceuticals had a negative return on equity of 39.65% and a net margin of 28.26%. Sell-side analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Julie Mchugh sold 21,571 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.73, for a total transaction of $80,459.83. Following the completion of the transaction, the director owned 250,749 shares of the company’s stock, valued at $935,293.77. This trade represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ronald Silver sold 127,890 shares of Ironwood Pharmaceuticals stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $4.52, for a total value of $578,062.80. Following the transaction, the insider directly owned 313,680 shares in the company, valued at approximately $1,417,833.60. The trade was a 28.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.30% of the stock is currently owned by insiders.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.