Northern Trust Corp boosted its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,561,766 shares of the biotechnology company’s stock after acquiring an additional 4,613 shares during the quarter. Northern Trust Corp owned approximately 1.03% of Ironwood Pharmaceuticals worth $24,099,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Ironwood Pharmaceuticals during the 1st quarter worth about $138,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ironwood Pharmaceuticals by 128.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,010 shares of the biotechnology company’s stock worth $135,000 after acquiring an additional 5,069 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Ironwood Pharmaceuticals during the 1st quarter worth about $180,000. Xact Kapitalforvaltning AB bought a new stake in Ironwood Pharmaceuticals during the 4th quarter worth about $220,000. Finally, Millennium Management LLC bought a new stake in Ironwood Pharmaceuticals during the 4th quarter worth about $367,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on IRWD. BidaskClub raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, June 16th. ValuEngine raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Mizuho upgraded shares of Ironwood Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the company from $16.00 to $24.00 in a research report on Wednesday, May 2nd. Wells Fargo & Co upped their target price on shares of Ironwood Pharmaceuticals from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, May 31st. Finally, Barclays upped their target price on shares of Ironwood Pharmaceuticals from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $19.44.
Ironwood Pharmaceuticals stock opened at $19.34 on Friday. The company has a debt-to-equity ratio of -21.52, a current ratio of 4.42 and a quick ratio of 4.40. Ironwood Pharmaceuticals, Inc. has a 1 year low of $12.89 and a 1 year high of $19.89.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Tuesday, May 1st. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). Ironwood Pharmaceuticals had a negative net margin of 34.12% and a negative return on equity of 2,073.20%. The business had revenue of $69.16 million for the quarter, compared to analyst estimates of $78.65 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. analysts expect that Ironwood Pharmaceuticals, Inc. will post -0.72 earnings per share for the current year.
In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 1,500 shares of the company’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $17.62, for a total transaction of $26,430.00. Following the transaction, the director now directly owns 92,631 shares in the company, valued at approximately $1,632,158.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.63% of the company’s stock.
Ironwood Pharmaceuticals Company Profile
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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