Victory Capital Management Inc. Reduces Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Victory Capital Management Inc. decreased its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 2.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 218,009 shares of the biotechnology company’s stock after selling 4,564 shares during the period. Victory Capital Management Inc. owned approximately 0.14% of Ironwood Pharmaceuticals worth $898,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position 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 worth $170,031,000 after purchasing an additional 3,487,821 shares in the last quarter. Pacer Advisors Inc. boosted 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 worth $58,078,000 after purchasing an additional 1,701,452 shares in the last quarter. Renaissance Technologies LLC boosted 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 worth $55,889,000 after purchasing an additional 1,472,097 shares in the last quarter. Armistice Capital LLC boosted 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 worth $50,856,000 after purchasing an additional 2,400,000 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its position in Ironwood Pharmaceuticals by 10.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,104,225 shares of the biotechnology company’s stock worth $7,200,000 after purchasing an additional 102,000 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Capital One Financial downgraded Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Wells Fargo & Company reduced their target price 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. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Leerink Partners began coverage on Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 price objective for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Ironwood Pharmaceuticals Stock Performance

NASDAQ IRWD opened at $3.67 on Thursday. Ironwood Pharmaceuticals, Inc. has a one year low of $3.26 and a one year high of $15.70. The company has a market cap of $587.31 million, a P/E ratio of -122.33 and a beta of 0.47. The business has a fifty day moving average price of $4.15 and a 200 day moving average price of $5.23.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (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 company had revenue of $91.60 million during the quarter, compared to analyst estimates of $91.22 million. During the same period last year, the business earned $0.12 earnings per share. The firm’s revenue was down 19.4% compared to the same quarter last year. As a group, sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now directly owns 309,572 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.90% of the company’s stock.

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.