Northern Trust Corp boosted its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 5.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,624,268 shares of the biotechnology company’s stock after purchasing an additional 88,464 shares during the quarter. Northern Trust Corp owned approximately 1.09% of Ironwood Pharmaceuticals worth $30,667,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of IRWD. Karp Capital Management Corp bought a new position in Ironwood Pharmaceuticals in the 1st quarter worth approximately $201,000. Parametric Portfolio Associates LLC boosted its stake in Ironwood Pharmaceuticals by 3.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 80,693 shares of the biotechnology company’s stock worth $1,377,000 after purchasing an additional 2,913 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Ironwood Pharmaceuticals by 8.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 12,161 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 898 shares during the period. American International Group Inc. boosted its stake in Ironwood Pharmaceuticals by 5.3% in the 1st quarter. American International Group Inc. now owns 78,346 shares of the biotechnology company’s stock worth $1,337,000 after purchasing an additional 3,940 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Ironwood Pharmaceuticals by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 24,051 shares of the biotechnology company’s stock worth $410,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 97.15% of the company’s stock.
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) opened at 14.57 on Friday. The stock’s market cap is $2.18 billion. The stock’s 50 day moving average price is $15.74 and its 200 day moving average price is $16.75. Ironwood Pharmaceuticals, Inc. has a 52 week low of $12.48 and a 52 week high of $19.94.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.05). Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. The firm had revenue of $65.10 million for the quarter, compared to analyst estimates of $70.00 million. During the same period in the previous year, the company posted ($0.16) EPS. Ironwood Pharmaceuticals’s revenue was up 19.7% on a year-over-year basis. On average, analysts forecast that Ironwood Pharmaceuticals, Inc. will post ($1.11) earnings per share for the current year.
Several research analysts have weighed in on the company. ValuEngine downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Mizuho restated a “buy” rating and issued a $20.00 price target (down from $23.00) on shares of Ironwood Pharmaceuticals in a research note on Friday, August 25th. BidaskClub upgraded Ironwood Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Cowen and Company set a $20.00 target price on Ironwood Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, August 21st. Finally, Wells Fargo & Company set a $19.00 price target on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $18.29.
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About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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