Guggenheim Capital LLC cut its holdings in shares of Ironwood Pharmaceuticals (NASDAQ:IRWD) by 20.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 184,602 shares of the biotechnology company’s stock after selling 47,748 shares during the quarter. Guggenheim Capital LLC owned approximately 0.12% of Ironwood Pharmaceuticals worth $2,768,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in IRWD. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ironwood Pharmaceuticals by 128.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,010 shares of the biotechnology company’s stock valued at $135,000 after purchasing an additional 5,069 shares during the last quarter. Hemenway Trust Co LLC purchased a new stake in Ironwood Pharmaceuticals in the 4th quarter worth about $204,000. Bailard Inc. purchased a new stake in Ironwood Pharmaceuticals in the 4th quarter worth about $345,000. Oppenheimer Asset Management Inc. increased its holdings in Ironwood Pharmaceuticals by 30.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,405 shares of the biotechnology company’s stock worth $369,000 after acquiring an additional 5,527 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Ironwood Pharmaceuticals by 122.3% in the 3rd quarter. SG Americas Securities LLC now owns 28,187 shares of the biotechnology company’s stock worth $445,000 after acquiring an additional 15,505 shares during the last quarter.
IRWD has been the subject of several recent research reports. ValuEngine lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Bank of America lowered Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $20.00 to $15.00 in a report on Friday, January 5th. BidaskClub lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, December 30th. Wells Fargo set a $18.00 price objective on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, April 9th. Finally, Zacks Investment Research raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $17.14.
In other news, insider Mark G. Currie sold 60,000 shares of Ironwood Pharmaceuticals stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $15.45, for a total transaction of $927,000.00. Following the completion of the sale, the insider now owns 835,000 shares in the company, valued at approximately $12,900,750. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Gina Consylman sold 3,594 shares of Ironwood Pharmaceuticals stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $14.66, for a total value of $52,688.04. Following the sale, the chief financial officer now owns 59,125 shares of the company’s stock, valued at approximately $866,772.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,728 shares of company stock valued at $1,024,732. Corporate insiders own 7.63% of the company’s stock.
IRWD stock traded down $0.19 during mid-day trading on Wednesday, reaching $17.45. 161,896 shares of the company traded hands, compared to its average volume of 1,532,298. The company has a quick ratio of 4.71, a current ratio of 4.72 and a debt-to-equity ratio of 40.25. The firm has a market capitalization of $2,571.27, a PE ratio of -18.97 and a beta of 1.07. Ironwood Pharmaceuticals has a 52-week low of $12.89 and a 52-week high of $19.94.
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, beating the Zacks’ consensus estimate of ($0.18) by $0.04. The business had revenue of $94.20 million during the quarter, compared to analyst estimates of $88.86 million. Ironwood Pharmaceuticals had a negative return on equity of 2,073.20% and a negative net margin of 39.20%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) EPS. equities research analysts anticipate that Ironwood Pharmaceuticals will post -0.46 EPS for the current fiscal year.
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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