Creative Planning Increases Stock Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Creative Planning increased its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 12.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,151 shares of the biotechnology company’s stock after buying an additional 4,749 shares during the period. Creative Planning’s holdings in Ironwood Pharmaceuticals were worth $174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Ironwood Pharmaceuticals by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock valued at $170,031,000 after purchasing an additional 3,487,821 shares in the last quarter. Pacer Advisors Inc. grew its position in Ironwood Pharmaceuticals by 23.6% in the 2nd quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company’s stock valued at $58,078,000 after acquiring an additional 1,701,452 shares in the last quarter. Renaissance Technologies LLC grew its position in Ironwood Pharmaceuticals by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock valued at $55,889,000 after acquiring an additional 1,472,097 shares in the last quarter. Armistice Capital LLC grew its position in 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. Finally, Jacobs Levy Equity Management Inc. grew its position in Ironwood Pharmaceuticals by 40.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,235,580 shares of the biotechnology company’s stock valued at $36,892,000 after acquiring an additional 1,226,377 shares in the last quarter.

Wall Street Analyst Weigh In

IRWD has been the subject of several recent research reports. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $12.00 to $4.00 in a research note on Thursday, August 8th. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company decreased their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Craig Hallum decreased their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Ironwood Pharmaceuticals Price Performance

NASDAQ IRWD opened at $4.78 on Tuesday. The firm has a market cap of $763.56 million, a PE ratio of -159.33 and a beta of 0.47. Ironwood Pharmaceuticals, Inc. has a one year low of $3.79 and a one year high of $15.70. The stock’s 50 day simple moving average is $4.32 and its 200 day simple moving average is $5.58.

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 business had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm’s revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. As a group, equities analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.26 earnings per share for the current year.

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.