Artal Group S.A. lessened its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 36.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 516,879 shares of the biotechnology company’s stock after selling 300,000 shares during the quarter. Artal Group S.A.’s holdings in Ironwood Pharmaceuticals were worth $7,748,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the 2nd quarter valued at about $1,472,000. Granahan Investment Management Inc. MA boosted its stake in shares of Ironwood Pharmaceuticals by 24.5% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 436,000 shares of the biotechnology company’s stock valued at $6,876,000 after buying an additional 85,904 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Ironwood Pharmaceuticals by 40.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 143,082 shares of the biotechnology company’s stock valued at $2,256,000 after buying an additional 41,406 shares during the period. Sawyer & Company Inc purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at about $615,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Ironwood Pharmaceuticals by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 104,571 shares of the biotechnology company’s stock valued at $1,974,000 after buying an additional 3,681 shares during the period.
Several brokerages have recently issued reports on IRWD. BidaskClub cut Ironwood Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Monday, February 5th. Zacks Investment Research cut Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Credit Suisse Group began coverage on Ironwood Pharmaceuticals in a research note on Monday, November 27th. They issued a “buy” rating and a $19.00 price objective for the company. Mizuho cut Ironwood Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $16.00 in a research note on Wednesday, December 6th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, December 4th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $17.56.
In related news, CEO Peter M. Hecht sold 113,405 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $15.12, for a total transaction of $1,714,683.60. Following the completion of the sale, the chief executive officer now owns 4,696,917 shares in the company, valued at $71,017,385.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark G. Currie sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $15.45, for a total value of $927,000.00. Following the sale, the insider now owns 835,000 shares of the company’s stock, valued at approximately $12,900,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,905 shares of company stock valued at $2,666,359. 7.63% of the stock is owned by company insiders.
Shares of Ironwood Pharmaceuticals, Inc. (IRWD) opened at $15.36 on Friday. The firm has a market capitalization of $2,321.20, a P/E ratio of -19.20 and a beta of 1.29. Ironwood Pharmaceuticals, Inc. has a 52 week low of $12.89 and a 52 week high of $19.94. The company has a debt-to-equity ratio of -22.31, a quick ratio of 4.86 and a current ratio of 4.87.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, February 15th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.04. The firm had revenue of $94.20 million during the quarter, compared to analysts’ expectations of $88.86 million. Ironwood Pharmaceuticals had a negative return on equity of 2,458.64% and a negative net margin of 39.20%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) earnings per share. analysts forecast that Ironwood Pharmaceuticals, Inc. will post -0.5 EPS for the current year.
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Ironwood Pharmaceuticals Profile
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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