Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 15.9% in the first quarter, Holdings Channel reports. The fund owned 8,452 shares of the biotechnology company’s stock after selling 1,600 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ironwood Pharmaceuticals were worth $114,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. CWM LLC purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at $31,000. First Manhattan Co. purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at $133,000. Gotham Asset Management LLC purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at $135,000. Bank of Montreal Can increased its holdings in shares of Ironwood Pharmaceuticals by 426.9% in the 4th quarter. Bank of Montreal Can now owns 16,846 shares of the biotechnology company’s stock valued at $175,000 after acquiring an additional 13,649 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at $211,000. 95.50% of the stock is owned by hedge funds and other institutional investors.
IRWD stock traded up $0.23 on Friday, hitting $11.31. 6,830 shares of the company’s stock were exchanged, compared to its average volume of 1,529,836. Ironwood Pharmaceuticals, Inc. has a 12-month low of $9.07 and a 12-month high of $21.20. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -11.99 and a beta of 1.89.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.10). The business had revenue of $68.73 million during the quarter, compared to the consensus estimate of $81.93 million. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.25) EPS. Sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.12 EPS for the current year.
A number of research analysts have recently issued reports on IRWD shares. BidaskClub downgraded Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, February 25th. BTIG Research set a $19.00 price target on Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, February 14th. Morgan Stanley set a $13.00 price target on Ironwood Pharmaceuticals and gave the company a “hold” rating in a report on Friday, May 3rd. Mizuho set a $20.00 price target on Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Wood & Company started coverage on Ironwood Pharmaceuticals in a report on Tuesday, February 26th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $15.15.
In related news, CFO Gina Consylman sold 4,055 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $10.53, for a total value of $42,699.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence S. Olanoff sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $14.41, for a total transaction of $28,820.00. The disclosure for this sale can be found here. Insiders have sold 281,055 shares of company stock valued at $3,718,019 in the last quarter. Insiders own 5.90% 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; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.
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