Park West Asset Management LLC increased its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 2.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 630,593 shares of the biotechnology company’s stock after acquiring an additional 16,635 shares during the period. Park West Asset Management LLC’s holdings in Ironwood Pharmaceuticals were worth $9,730,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IRWD. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ironwood Pharmaceuticals by 128.6% during the fourth 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 in the last quarter. SG Americas Securities LLC bought a new stake in Ironwood Pharmaceuticals during the first quarter worth about $138,000. Quantitative Systematic Strategies LLC bought a new stake in Ironwood Pharmaceuticals during the first quarter worth about $180,000. A.R.T. Advisors LLC bought a new stake in Ironwood Pharmaceuticals during the first quarter worth about $208,000. Finally, Xact Kapitalforvaltning AB bought a new stake in Ironwood Pharmaceuticals during the fourth quarter worth about $220,000. Institutional investors and hedge funds own 99.47% of the company’s stock.
In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $17.62, for a total value of $26,430.00. Following the sale, the director now owns 92,631 shares in the company, valued at $1,632,158.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.63% of the stock is owned by corporate insiders.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Tuesday, May 1st. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.06). The business had revenue of $69.16 million during the quarter, compared to the consensus estimate of $78.65 million. Ironwood Pharmaceuticals had a negative net margin of 34.12% and a negative return on equity of 2,073.20%. Ironwood Pharmaceuticals’s quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.33) EPS. equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.
IRWD has been the topic of several analyst reports. Wells Fargo & Co set a $18.00 target price on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, April 9th. Morgan Stanley reiterated an “underweight” rating and set a $13.00 target price on shares of Ironwood Pharmaceuticals in a report on Wednesday, May 9th. Zacks Investment Research lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, April 18th. BidaskClub upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 27th. Finally, Berenberg Bank assumed coverage on Ironwood Pharmaceuticals in a research note on Thursday, April 19th. They issued a “buy” rating and a $25.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Ironwood Pharmaceuticals has an average rating of “Hold” and an average price target of $18.80.
Ironwood Pharmaceuticals 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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