The Manufacturers Life Insurance Company Has $225,000 Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

The Manufacturers Life Insurance Company lowered its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 29.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,522 shares of the biotechnology company’s stock after selling 22,552 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Ironwood Pharmaceuticals were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IRWD. Armistice Capital LLC grew its holdings in shares of 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. Pacer Advisors Inc. grew its position in shares of Ironwood Pharmaceuticals by 26.6% in the 3rd quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock valued at $46,473,000 after acquiring an additional 2,372,183 shares during the period. Renaissance Technologies LLC increased its stake in shares of 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 purchasing an additional 1,472,097 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 23.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock valued at $7,846,000 after purchasing an additional 364,841 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Ironwood Pharmaceuticals by 1,293.6% in the 3rd 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 last quarter.

Insider Activity at Ironwood Pharmaceuticals

In related 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 transaction of $44,884.08. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 12.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on IRWD. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Leerink Partners assumed coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They set a “market perform” rating and a $5.00 price target for the company. Finally, Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $10.40.

Ironwood Pharmaceuticals Stock Down 2.3 %

IRWD stock opened at $3.45 on Tuesday. Ironwood Pharmaceuticals, Inc. has a 52 week low of $3.06 and a 52 week high of $15.70. The business has a 50-day simple moving average of $4.01 and a 200 day simple moving average of $4.99. The company has a market cap of $552.10 million, a PE ratio of -115.00 and a beta of 0.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business 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 business’s quarterly revenue was down 19.4% compared to the same quarter last year. On average, analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal 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.