State Street Corp Has $40.87 Million Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

State Street Corp raised its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 7.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,919,865 shares of the biotechnology company’s stock after buying an additional 677,024 shares during the period. State Street Corp owned about 6.21% of Ironwood Pharmaceuticals worth $40,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP raised its position in Ironwood Pharmaceuticals by 40.0% in the 3rd quarter. Quantinno Capital Management LP now owns 19,191 shares of the biotechnology company’s stock valued at $79,000 after purchasing an additional 5,482 shares during the last quarter. Redwood Investment Management LLC raised its holdings in shares of Ironwood Pharmaceuticals by 12.4% in the third quarter. Redwood Investment Management LLC now owns 534,560 shares of the biotechnology company’s stock valued at $2,149,000 after buying an additional 58,783 shares during the last quarter. PDT Partners LLC bought a new position in shares of Ironwood Pharmaceuticals in the third quarter valued at about $112,000. Walleye Capital LLC lifted its position in Ironwood Pharmaceuticals by 264.2% during the 3rd quarter. Walleye Capital LLC now owns 280,299 shares of the biotechnology company’s stock worth $1,155,000 after buying an additional 203,331 shares in the last quarter. Finally, Stonepine Capital Management LLC grew its holdings in Ironwood Pharmaceuticals by 1,982.8% during the 3rd quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $4,120,000 after acquiring an additional 951,988 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IRWD. Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Leerink Partners started coverage on Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $10.40.

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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 can be accessed through this hyperlink. 12.90% of the stock is currently owned by corporate insiders.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD stock opened at $4.45 on Friday. The firm’s 50 day moving average price is $3.97 and its two-hundred day moving average price is $4.92. Ironwood Pharmaceuticals, Inc. has a 52-week low of $3.06 and a 52-week high of $15.70. The stock has a market cap of $712.12 million, a PE ratio of -148.33 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 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. During the same quarter in the prior year, the company posted $0.12 EPS. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. As a group, sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current fiscal 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.