Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lessened its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 34.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,479,964 shares of the biotechnology company’s stock after selling 790,078 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Ironwood Pharmaceuticals were worth $12,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. First Eagle Investment Management LLC lifted its stake in shares of Ironwood Pharmaceuticals by 10.5% during the first quarter. First Eagle Investment Management LLC now owns 1,002,225 shares of the biotechnology company’s stock worth $8,729,000 after purchasing an additional 95,000 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Ironwood Pharmaceuticals in the first quarter worth about $2,095,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Ironwood Pharmaceuticals by 339.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 195,057 shares of the biotechnology company’s stock worth $1,699,000 after acquiring an additional 150,663 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Ironwood Pharmaceuticals in the first quarter worth about $693,000. Finally, ProShare Advisors LLC lifted its stake in shares of Ironwood Pharmaceuticals by 8.1% in the first quarter. ProShare Advisors LLC now owns 38,883 shares of the biotechnology company’s stock worth $339,000 after acquiring an additional 2,917 shares in the last quarter.

Ironwood Pharmaceuticals Stock Up 1.4 %

Ironwood Pharmaceuticals stock traded up $0.09 during midday trading on Friday, hitting $6.72. The stock had a trading volume of 1,061,637 shares, compared to its average volume of 2,147,657. Ironwood Pharmaceuticals, Inc. has a 12 month low of $5.47 and a 12 month high of $15.70. The business has a fifty day moving average price of $6.32 and a 200 day moving average price of $9.22.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.20). The company had revenue of $74.90 million for the quarter, compared to the consensus estimate of $105.75 million. Ironwood Pharmaceuticals had a negative net margin of 254.41% and a negative return on equity of 28.45%. The firm’s revenue for the quarter was down 28.0% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Julie Mchugh sold 22,766 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $6.29, for a total value of $143,198.14. Following the completion of the transaction, the director now directly owns 139,528 shares of the company’s stock, valued at approximately $877,631.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 22,766 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $6.29, for a total value of $143,198.14. Following the completion of the sale, the director now directly owns 139,528 shares in the company, valued at $877,631.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Catherine Moukheibir sold 44,426 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $6.36, for a total value of $282,549.36. Following the completion of the sale, the director now owns 84,207 shares of the company’s stock, valued at $535,556.52. The disclosure for this sale can be found here. Corporate insiders own 12.90% of the company’s stock.

Wall Street Analysts Forecast Growth

IRWD has been the topic of several recent analyst reports. Craig Hallum cut their price target on Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $18.40.

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.