Fisher Asset Management LLC cut its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 201,169 shares of the biotechnology company’s stock after selling 10,071 shares during the period. Fisher Asset Management LLC owned 0.13% of Ironwood Pharmaceuticals worth $3,714,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in Ironwood Pharmaceuticals during the 2nd quarter valued at about $186,000. A.R.T. Advisors LLC acquired a new position in Ironwood Pharmaceuticals during the 1st quarter valued at about $208,000. V Wealth Management LLC acquired a new position in Ironwood Pharmaceuticals during the 2nd quarter valued at about $258,000. PNC Financial Services Group Inc. lifted its position in Ironwood Pharmaceuticals by 17,621.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 17,013 shares of the biotechnology company’s stock valued at $325,000 after purchasing an additional 16,917 shares during the period. Finally, LPL Financial LLC lifted its position in Ironwood Pharmaceuticals by 16.3% during the 1st quarter. LPL Financial LLC now owns 21,160 shares of the biotechnology company’s stock valued at $326,000 after purchasing an additional 2,959 shares during the period. Institutional investors own 97.19% of the company’s stock.
In related news, Director Julie Mchugh sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $19.10, for a total transaction of $28,650.00. Following the completion of the sale, the director now directly owns 91,131 shares of the company’s stock, valued at approximately $1,740,602.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark G. Currie sold 116,651 shares of the stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $17.53, for a total value of $2,044,892.03. Following the sale, the insider now directly owns 70,680 shares of the company’s stock, valued at $1,239,020.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 248,339 shares of company stock valued at $4,475,466. 7.63% of the stock is currently owned by company insiders.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Monday, August 6th. The biotechnology company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.09). The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $82.61 million. Ironwood Pharmaceuticals’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) earnings per share. On average, sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.82 earnings per share for the current year.
A number of research analysts have issued reports on the stock. Cowen restated a “market perform” rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, July 18th. HC Wainwright initiated coverage on Ironwood Pharmaceuticals in a research note on Monday, July 23rd. They issued a “sell” rating and a $12.50 price target for the company. BidaskClub raised Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 6th. Wells Fargo & Co set a $23.00 price target on Ironwood Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 8th. Finally, ValuEngine cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Ironwood Pharmaceuticals presently has an average rating of “Hold” and an average target price of $18.50.
About Ironwood Pharmaceuticals
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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