Trustcore Financial Services LLC trimmed its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 71.1% in the first quarter, Holdings Channel reports. The institutional investor owned 30,000 shares of the biotechnology company’s stock after selling 73,840 shares during the period. Trustcore Financial Services LLC’s holdings in Ironwood Pharmaceuticals were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $31,000. First Manhattan Co. acquired a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $133,000. Gotham Asset Management LLC acquired a new stake in Ironwood Pharmaceuticals during the 4th quarter worth approximately $135,000. Bank of Montreal Can lifted its holdings in Ironwood Pharmaceuticals by 426.9% during the 4th quarter. Bank of Montreal Can now owns 16,846 shares of the biotechnology company’s stock worth $175,000 after purchasing an additional 13,649 shares during the last quarter. Finally, Amalgamated Bank acquired a new stake in Ironwood Pharmaceuticals during the 4th quarter worth approximately $211,000. 97.04% of the stock is owned by institutional investors.
IRWD has been the subject of several research reports. Wood & Company initiated coverage on Ironwood Pharmaceuticals in a report on Tuesday, February 26th. They set a “buy” rating for the company. BidaskClub raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, January 17th. BTIG Research set a $19.00 price target on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, February 14th. ValuEngine raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Finally, Zacks Investment Research raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, April 16th. One 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. Ironwood Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $15.15.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.10). The company had revenue of $68.73 million during the quarter, compared to analyst estimates of $81.93 million. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.25) earnings per share. As a group, equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.12 earnings per share for the current fiscal year.
In other Ironwood Pharmaceuticals news, CFO Gina Consylman sold 5,677 shares of Ironwood Pharmaceuticals stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $14.31, for a total value of $81,237.87. Following the completion of the transaction, the chief financial officer now directly owns 168,543 shares of the company’s stock, valued at approximately $2,411,850.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence S. Olanoff sold 2,000 shares of Ironwood Pharmaceuticals stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $14.41, for a total value of $28,820.00. The disclosure for this sale can be found here. Insiders sold a total of 288,376 shares of company stock valued at $3,822,783 over the last ninety days. Insiders own 5.90% of the company’s stock.
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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; 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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