First Trust Advisors LP purchased a new stake in shares of Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) during the second quarter, Holdings Channel reports. The firm purchased 38,034 shares of the company’s stock, valued at approximately $497,000.
Other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its position in shares of Ironwood Pharmaceuticals by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 88,066 shares of the company’s stock valued at $1,151,000 after buying an additional 663 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Ironwood Pharmaceuticals by 8.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 59,100 shares of the company’s stock valued at $767,000 after buying an additional 4,500 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Ironwood Pharmaceuticals during the second quarter valued at approximately $241,000. Mariner Investment Group LLC raised its position in shares of Ironwood Pharmaceuticals by 28.3% in the second quarter. Mariner Investment Group LLC now owns 38,500 shares of the company’s stock valued at $503,000 after buying an additional 8,500 shares during the period. Finally, Quantitative Investment Management LLC acquired a new position in shares of Ironwood Pharmaceuticals during the second quarter valued at approximately $948,000. 93.96% of the stock is currently owned by institutional investors and hedge funds.
Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) traded down 1.18% on Wednesday, hitting $15.07. The stock had a trading volume of 657,344 shares. The firm’s market cap is $2.19 billion. Ironwood Pharmaceuticals Inc. has a 12-month low of $7.35 and a 12-month high of $16.17. The company’s 50 day moving average is $14.74 and its 200 day moving average is $12.89.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.01. The business earned $54.40 million during the quarter, compared to analysts’ expectations of $54.49 million. Ironwood Pharmaceuticals had a negative net margin of 45.21% and a negative return on equity of 94.75%. Ironwood Pharmaceuticals’s revenue for the quarter was up 96.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) EPS. On average, equities research analysts expect that Ironwood Pharmaceuticals Inc. will post ($0.75) EPS for the current fiscal year.
Several brokerages have recently commented on IRWD. Mizuho decreased their price target on Ironwood Pharmaceuticals from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday. WallachBeth Capital upped their price target on Ironwood Pharmaceuticals from $15.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, September 27th. BTIG Research reissued a “buy” rating and set a $18.00 target price (up previously from $15.00) on shares of Ironwood Pharmaceuticals in a research note on Friday, September 23rd. Zacks Investment Research lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. Finally, Leerink Swann reissued a “market perform” rating and set a $14.00 target price (up previously from $10.00) on shares of Ironwood Pharmaceuticals in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.18.
In other Ironwood Pharmaceuticals news, Director Lawrence S. Olanoff sold 3,200 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $13.72, for a total transaction of $43,904.00. Following the completion of the sale, the director now owns 29,305 shares of the company’s stock, valued at $402,064.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.17% of the stock is owned by insiders.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders.