Two Sigma Advisers LP increased its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 22.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,157 shares of the biotechnology company’s stock after purchasing an additional 8,000 shares during the period. Two Sigma Advisers LP’s holdings in Ironwood Pharmaceuticals were worth $447,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in IRWD. Bank of New York Mellon Corp grew its position in shares of Ironwood Pharmaceuticals by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 626,367 shares of the biotechnology company’s stock valued at $11,564,000 after purchasing an additional 10,717 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at $177,000. Man Group plc purchased a new stake in Ironwood Pharmaceuticals during the third quarter valued at about $2,354,000. MetLife Investment Advisors LLC grew its position in Ironwood Pharmaceuticals by 54.0% during the third quarter. MetLife Investment Advisors LLC now owns 98,054 shares of the biotechnology company’s stock valued at $1,810,000 after acquiring an additional 34,372 shares during the period. Finally, Teachers Advisors LLC grew its position in Ironwood Pharmaceuticals by 2.9% during the third quarter. Teachers Advisors LLC now owns 262,571 shares of the biotechnology company’s stock valued at $4,847,000 after acquiring an additional 7,380 shares during the period. 97.05% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Peter M. Hecht sold 89,551 shares of the company’s stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $12.53, for a total value of $1,122,074.03. Following the completion of the sale, the chief executive officer now owns 4,726,917 shares of the company’s stock, valued at $59,228,270.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lawrence S. Olanoff sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $14.41, for a total value of $28,820.00. The disclosure for this sale can be found here. Insiders sold 403,872 shares of company stock valued at $5,281,958 in the last ninety days. Company insiders own 7.63% of the company’s stock.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Wednesday, February 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. The company had revenue of $130.70 million during the quarter, compared to analysts’ expectations of $96.57 million. During the same period in the previous year, the company earned ($0.14) EPS. Ironwood Pharmaceuticals’s quarterly revenue was up 38.7% on a year-over-year basis. As a group, equities analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.02 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Tuesday, April 16th. Credit Suisse Group set a $16.00 price target on Ironwood Pharmaceuticals and gave the company a “hold” rating in a research report on Friday, March 22nd. Wood & Company assumed coverage on Ironwood Pharmaceuticals in a research report on Tuesday, February 26th. They set a “buy” rating for the company. BidaskClub downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Finally, ValuEngine raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.15.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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