Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Sold by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC lessened its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 48.0% in the third quarter, Holdings Channel.com reports. The fund owned 455,477 shares of the biotechnology company’s stock after selling 420,791 shares during the quarter. Parkman Healthcare Partners LLC’s holdings in Ironwood Pharmaceuticals were worth $1,877,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. increased its stake in Ironwood Pharmaceuticals by 26.6% in the 3rd quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock worth $46,473,000 after purchasing an additional 2,372,183 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Ironwood Pharmaceuticals by 20.7% in the second quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock worth $55,889,000 after acquiring an additional 1,472,097 shares in the last quarter. Armistice Capital LLC lifted its position in shares of Ironwood Pharmaceuticals by 44.4% in the 2nd quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock valued at $50,856,000 after acquiring an additional 2,400,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ironwood Pharmaceuticals by 23.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock worth $7,846,000 after purchasing an additional 364,841 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in Ironwood Pharmaceuticals by 10.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,104,225 shares of the biotechnology company’s stock worth $7,200,000 after purchasing an additional 102,000 shares during the period.

Insiders Place Their Bets

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the company’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 transaction of $44,884.08. Following the completion of the transaction, the chief financial officer now directly owns 309,572 shares in the company, valued at $1,263,053.76. The trade was a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.90% of the company’s stock.

Ironwood Pharmaceuticals Stock Down 2.2 %

IRWD stock opened at $3.54 on Wednesday. The firm has a 50 day moving average of $4.10 and a two-hundred day moving average of $5.14. Ironwood Pharmaceuticals, Inc. has a 12 month low of $3.26 and a 12 month high of $15.70. The company has a market capitalization of $566.51 million, a price-to-earnings ratio of -118.00 and a beta of 0.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The firm had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The company’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 earned $0.12 EPS. On average, research analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IRWD has been the subject of several recent analyst reports. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Craig Hallum dropped their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company decreased their price target on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. Finally, Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.40.

About Ironwood Pharmaceuticals

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.