Redwood Investment Management LLC Increases Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Redwood Investment Management LLC raised its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 12.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 534,560 shares of the biotechnology company’s stock after purchasing an additional 58,783 shares during the quarter. Redwood Investment Management LLC owned 0.33% of Ironwood Pharmaceuticals worth $2,149,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. raised its holdings in shares of Ironwood Pharmaceuticals by 1,293.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 380,960 shares of the biotechnology company’s stock valued at $1,570,000 after acquiring an additional 353,624 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Ironwood Pharmaceuticals by 150.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,289 shares of the biotechnology company’s stock worth $520,000 after purchasing an additional 75,917 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Ironwood Pharmaceuticals by 26.6% in the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 2,372,183 shares in the last quarter. KBC Group NV grew its position in shares of Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after buying an additional 3,198 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its position in shares of Ironwood Pharmaceuticals by 20.6% in the 2nd quarter. Hodges Capital Management Inc. now owns 1,041,000 shares of the biotechnology company’s stock valued at $6,787,000 after purchasing an additional 177,500 shares during the last quarter.

Analysts Set New Price Targets

IRWD has been the topic of a number of analyst reports. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their price target on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Craig Hallum cut their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Leerink Partners initiated coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 price objective for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Insider Buying and Selling

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now directly owns 309,572 shares of the company’s stock, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.90% of the company’s stock.

Ironwood Pharmaceuticals Price Performance

Shares of Ironwood Pharmaceuticals stock opened at $3.55 on Thursday. Ironwood Pharmaceuticals, Inc. has a 1 year low of $3.26 and a 1 year high of $15.70. The company’s fifty day moving average is $4.09 and its two-hundred day moving average is $5.13.

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