Principal Financial Group Inc. Has $3.03 Million Stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Principal Financial Group Inc. trimmed its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 7.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 735,727 shares of the biotechnology company’s stock after selling 59,598 shares during the period. Principal Financial Group Inc. owned 0.47% of Ironwood Pharmaceuticals worth $3,031,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its position in shares of Ironwood Pharmaceuticals by 1,293.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 380,960 shares of the biotechnology company’s stock valued at $1,570,000 after purchasing an additional 353,624 shares during the period. Hodges Capital Management Inc. raised its holdings in Ironwood Pharmaceuticals by 20.6% in the 2nd quarter. Hodges Capital Management Inc. now owns 1,041,000 shares of the biotechnology company’s stock worth $6,787,000 after acquiring an additional 177,500 shares during the period. Renaissance Technologies LLC lifted its position in Ironwood Pharmaceuticals by 20.7% during the 2nd 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 during the last quarter. Creative Planning grew its position in shares of Ironwood Pharmaceuticals by 12.7% in the third quarter. Creative Planning now owns 42,151 shares of the biotechnology company’s stock valued at $174,000 after purchasing an additional 4,749 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Ironwood Pharmaceuticals by 344.1% in the second quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 8,156 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRWD. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their target price on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target for the company. Craig Hallum dropped their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Three 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.com, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s 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 sale, the chief financial officer now owns 309,572 shares in the company, valued at approximately $1,263,053.76. The trade was a 3.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.90% of the company’s stock.

Ironwood Pharmaceuticals Stock Performance

NASDAQ:IRWD opened at $3.44 on Friday. The company has a 50-day moving average of $4.23 and a 200-day moving average of $5.36. Ironwood Pharmaceuticals, Inc. has a 52 week low of $3.26 and a 52 week high of $15.70. The company has a market capitalization of $550.50 million, a price-to-earnings ratio of -111.33 and a beta of 0.47.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced 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). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. During the same quarter in the prior year, the business earned $0.12 EPS. The firm’s revenue for the quarter was down 19.4% on a year-over-year basis. Sell-side analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

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.