Fmr LLC Has $699,000 Stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Fmr LLC raised its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 25.1% in the third quarter, HoldingsChannel.com reports. The fund owned 169,681 shares of the biotechnology company’s stock after purchasing an additional 34,089 shares during the quarter. Fmr LLC’s holdings in Ironwood Pharmaceuticals were worth $699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV raised its holdings in shares of Ironwood Pharmaceuticals by 59.3% in the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 3,198 shares during the period. CWM LLC raised its stake in Ironwood Pharmaceuticals by 55.1% in the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 2,345 shares during the period. Diversified Trust Co acquired a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at approximately $52,000. Legacy Capital Group California Inc. bought a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter worth approximately $59,000. Finally, First Dallas Securities Inc. acquired a new position in shares of Ironwood Pharmaceuticals during the 2nd quarter worth approximately $73,000.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Leerink Partners started coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a “market perform” rating and a $5.00 price objective for the company. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Insiders Place Their Bets

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the sale, the chief financial officer now directly owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.90% of the company’s stock.

Ironwood Pharmaceuticals Stock Performance

NASDAQ:IRWD opened at $3.53 on Wednesday. Ironwood Pharmaceuticals, Inc. has a 52 week low of $3.06 and a 52 week high of $15.70. The firm’s 50-day simple moving average is $3.99 and its 200 day simple moving average is $4.95. The firm has a market cap of $564.90 million, a price-to-earnings ratio of -117.67 and a beta of 0.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share. Sell-side analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current year.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.