Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Sold by Vestcor Inc

Vestcor Inc lessened its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 6.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 148,614 shares of the biotechnology company’s stock after selling 10,852 shares during the quarter. Vestcor Inc owned about 0.09% of Ironwood Pharmaceuticals worth $658,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV boosted its position in Ironwood Pharmaceuticals by 59.3% during the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 3,198 shares during the period. Journey Strategic Wealth LLC acquired a new position in Ironwood Pharmaceuticals during the 4th quarter worth $45,000. SG Americas Securities LLC acquired a new position in Ironwood Pharmaceuticals during the 4th quarter worth $53,000. CIBC Asset Management Inc acquired a new position in Ironwood Pharmaceuticals during the 4th quarter worth $53,000. Finally, Wolverine Trading LLC acquired a new position in Ironwood Pharmaceuticals during the 3rd quarter worth $51,000.

Ironwood Pharmaceuticals Stock Down 1.3 %

Shares of Ironwood Pharmaceuticals stock opened at $1.49 on Monday. The stock’s fifty day moving average is $2.56 and its 200-day moving average is $3.60. The firm has a market capitalization of $238.44 million, a PE ratio of -49.67 and a beta of 0.37. Ironwood Pharmaceuticals, Inc. has a 12-month low of $1.34 and a 12-month high of $9.23.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $90.55 million for the quarter, compared to analyst estimates of $93.85 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. Analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Insider Activity at Ironwood Pharmaceuticals

In related news, CEO Thomas A. Mccourt sold 139,064 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $244,752.64. Following the transaction, the chief executive officer now directly owns 1,160,634 shares of the company’s stock, valued at approximately $2,042,715.84. The trade was a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $72,633.44. Following the transaction, the chief marketing officer now directly owns 554,007 shares in the company, valued at $975,052.32. The trade was a 6.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 192,381 shares of company stock valued at $338,591. Company insiders own 12.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on IRWD. Craig Hallum reduced their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday. Finally, JMP Securities cut their price objective on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $8.60.

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.