Ironwood Pharmaceuticals, Inc. $IRWD Shares Sold by State of Wyoming

State of Wyoming lessened its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 56.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 157,325 shares of the biotechnology company’s stock after selling 205,082 shares during the period. State of Wyoming’s holdings in Ironwood Pharmaceuticals were worth $530,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IRWD. Bank of America Corp DE increased its holdings in shares of Ironwood Pharmaceuticals by 248.3% in the third quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock valued at $15,321,000 after purchasing an additional 8,337,672 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Ironwood Pharmaceuticals by 186.6% in the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after purchasing an additional 4,140,439 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Ironwood Pharmaceuticals by 144.3% in the second quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock valued at $4,422,000 after purchasing an additional 3,641,762 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Ironwood Pharmaceuticals by 616.3% in the second quarter. Marshall Wace LLP now owns 3,993,557 shares of the biotechnology company’s stock valued at $2,875,000 after purchasing an additional 3,436,036 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Ironwood Pharmaceuticals by 740.5% in the first quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock valued at $5,160,000 after purchasing an additional 3,092,475 shares during the last quarter.

Insider Activity at Ironwood Pharmaceuticals

In other news, Director Alexander J. Denner sold 6,730,800 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $3.05, for a total transaction of $20,528,940.00. Following the completion of the transaction, the director directly owned 9,188,635 shares in the company, valued at $28,025,336.75. This trade represents a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IRWD shares. Citizens Jmp increased their price target on Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. Zacks Research lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $3.70 price objective on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 26th. Wall Street Zen upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.23.

Ironwood Pharmaceuticals Stock Down 2.6%

IRWD opened at $3.31 on Friday. Ironwood Pharmaceuticals, Inc. has a 52 week low of $0.57 and a 52 week high of $5.78. The business has a fifty day simple moving average of $3.81 and a 200-day simple moving average of $3.86. The firm has a market cap of $539.73 million, a P/E ratio of 5.52 and a beta of 0.25.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Ironwood Pharmaceuticals had a negative return on equity of 39.65% and a net margin of 28.26%.The firm had revenue of $106.51 million for the quarter, compared to analysts’ expectations of $92.11 million. Sell-side analysts expect that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current year.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.