Alps Advisors Inc. raised its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 9.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,020 shares of the biotechnology company’s stock after purchasing an additional 12,010 shares during the period. Alps Advisors Inc. owned 0.09% of Ironwood Pharmaceuticals worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of IRWD. Parametric Portfolio Associates LLC raised its position in Ironwood Pharmaceuticals by 3.7% during the first quarter. Parametric Portfolio Associates LLC now owns 80,693 shares of the biotechnology company’s stock valued at $1,377,000 after purchasing an additional 2,913 shares during the period. Principal Financial Group Inc. raised its position in Ironwood Pharmaceuticals by 0.3% during the first quarter. Principal Financial Group Inc. now owns 24,051 shares of the biotechnology company’s stock valued at $410,000 after purchasing an additional 62 shares during the period. Teachers Advisors LLC raised its position in Ironwood Pharmaceuticals by 2.5% during the first quarter. Teachers Advisors LLC now owns 231,163 shares of the biotechnology company’s stock valued at $3,944,000 after purchasing an additional 5,567 shares during the period. Vanguard Group Inc. raised its position in Ironwood Pharmaceuticals by 5.7% during the first quarter. Vanguard Group Inc. now owns 10,505,461 shares of the biotechnology company’s stock valued at $179,223,000 after purchasing an additional 562,179 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Ironwood Pharmaceuticals during the first quarter valued at approximately $3,181,000. Institutional investors and hedge funds own 98.83% of the company’s stock.
Several brokerages have recently weighed in on IRWD. ValuEngine downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Cowen and Company set a $20.00 price target on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 4th. BidaskClub downgraded Ironwood Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Mizuho reiterated a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Ironwood Pharmaceuticals in a report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and issued a $19.00 price target (down from $20.00) on shares of Ironwood Pharmaceuticals in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $18.29.
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Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) traded up $0.08 during trading hours on Monday, reaching $15.25. The company had a trading volume of 765,100 shares, compared to its average volume of 1,305,914. Ironwood Pharmaceuticals, Inc. has a 52 week low of $13.43 and a 52 week high of $19.94. The company has a current ratio of 4.87, a quick ratio of 4.86 and a debt-to-equity ratio of -22.31.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.07. Ironwood Pharmaceuticals had a negative return on equity of 645.22% and a negative net margin of 48.89%. The company had revenue of $86.80 million for the quarter, compared to analysts’ expectations of $73.59 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. Ironwood Pharmaceuticals’s revenue was up 31.3% compared to the same quarter last year. equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post -1.12 earnings per share for the current fiscal year.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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