Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Stake Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 31.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,867 shares of the biotechnology company’s stock after selling 19,100 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Ironwood Pharmaceuticals were worth $168,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IRWD. SG Americas Securities LLC bought a new stake in Ironwood Pharmaceuticals during the first quarter worth approximately $91,000. US Bancorp DE boosted its holdings in Ironwood Pharmaceuticals by 14.9% during the first quarter. US Bancorp DE now owns 45,770 shares of the biotechnology company’s stock worth $399,000 after buying an additional 5,930 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Ironwood Pharmaceuticals by 8.1% during the first quarter. ProShare Advisors LLC now owns 38,883 shares of the biotechnology company’s stock worth $339,000 after buying an additional 2,917 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Ironwood Pharmaceuticals by 339.4% during 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 buying an additional 150,663 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Ironwood Pharmaceuticals by 21.8% during the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock worth $170,031,000 after buying an additional 3,487,821 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IRWD shares. Wells Fargo & Company decreased their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Craig Hallum decreased their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com lowered shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Capital One Financial lowered shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $12.00 to $4.00 in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Ironwood Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Insider Activity

In related news, CFO Sravan Kumar Emany sold 11,001 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the transaction, the chief financial officer now owns 309,572 shares in the company, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.90% of the stock is owned by insiders.

Ironwood Pharmaceuticals Trading Down 7.6 %

Ironwood Pharmaceuticals stock opened at $3.52 on Thursday. The company has a market capitalization of $563.31 million, a P/E ratio of -127.00 and a beta of 0.47. The firm’s fifty day simple moving average is $4.27 and its 200-day simple moving average is $5.39. Ironwood Pharmaceuticals, Inc. has a 1-year low of $3.51 and a 1-year high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share 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 net margin of 0.65% and a negative return on equity of 0.96%. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 EPS. On average, equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.

Ironwood Pharmaceuticals 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.