Paloma Partners Management Co reduced its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,988 shares of the biotechnology company’s stock after selling 33,379 shares during the quarter. Paloma Partners Management Co’s holdings in Ironwood Pharmaceuticals were worth $1,109,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Nationwide Fund Advisors lifted its holdings in shares of Ironwood Pharmaceuticals by 2.7% during the third quarter. Nationwide Fund Advisors now owns 287,872 shares of the biotechnology company’s stock valued at $4,540,000 after acquiring an additional 7,478 shares during the period. Sei Investments Co. lifted its holdings in shares of Ironwood Pharmaceuticals by 12.7% during the third quarter. Sei Investments Co. now owns 252,338 shares of the biotechnology company’s stock valued at $3,980,000 after acquiring an additional 28,513 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Ironwood Pharmaceuticals by 3.5% during the third quarter. New York State Common Retirement Fund now owns 1,404,659 shares of the biotechnology company’s stock valued at $22,151,000 after acquiring an additional 47,675 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Ironwood Pharmaceuticals by 40.7% during the third quarter. Russell Investments Group Ltd. now owns 143,082 shares of the biotechnology company’s stock valued at $2,256,000 after acquiring an additional 41,406 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 122.3% during the third quarter. SG Americas Securities LLC now owns 28,187 shares of the biotechnology company’s stock valued at $445,000 after acquiring an additional 15,505 shares during the period.
Ironwood Pharmaceuticals stock opened at $15.36 on Monday. The company has a current ratio of 4.72, a quick ratio of 4.71 and a debt-to-equity ratio of 40.25. Ironwood Pharmaceuticals, Inc. has a twelve month low of $12.89 and a twelve month high of $19.94.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.04. The business had revenue of $94.20 million during the quarter, compared to analysts’ expectations of $88.86 million. Ironwood Pharmaceuticals had a negative return on equity of 2,073.20% and a negative net margin of 39.20%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) earnings per share. analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.46 EPS for the current fiscal year.
A number of research analysts recently issued reports on IRWD shares. ValuEngine raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Bank of America cut Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and cut their price target for the company from $20.00 to $15.00 in a report on Friday, January 5th. BidaskClub cut Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, December 30th. Morgan Stanley reaffirmed a “hold” rating on shares of Ironwood Pharmaceuticals in a report on Monday, December 4th. Finally, Zacks Investment Research raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.29.
In related news, insider Mark G. Currie sold 60,000 shares of Ironwood Pharmaceuticals stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $15.45, for a total value of $927,000.00. Following the completion of the sale, the insider now directly owns 835,000 shares in the company, valued at $12,900,750. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gina Consylman sold 3,594 shares of Ironwood Pharmaceuticals stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $14.66, for a total value of $52,688.04. Following the completion of the sale, the chief financial officer now owns 59,125 shares of the company’s stock, valued at $866,772.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,728 shares of company stock valued at $1,024,732. Corporate insiders own 7.63% of the company’s stock.
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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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