Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 7.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 735,727 shares of the biotechnology company’s stock after selling 59,598 shares during the period. Principal Financial Group Inc. owned about 0.46% of Ironwood Pharmaceuticals worth $3,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in IRWD. Pacer Advisors Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 26.6% in the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock worth $46,473,000 after buying an additional 2,372,183 shares during the last quarter. State Street Corp boosted its position in Ironwood Pharmaceuticals by 7.3% in the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after purchasing an additional 677,024 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 grew its stake in shares of Ironwood Pharmaceuticals by 44.4% during 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 during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 23.7% during 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 in the last quarter.

Wall Street Analysts Forecast Growth

IRWD has been the topic of several analyst reports. Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a “market perform” rating and a $5.00 price target on the stock. StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.08, for a total transaction of $44,884.08. Following the completion of the sale, the chief financial officer now owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.90% of the stock is owned by corporate insiders.

Ironwood Pharmaceuticals Stock Up 4.2 %

IRWD stock opened at $4.51 on Friday. Ironwood Pharmaceuticals, Inc. has a 52 week low of $3.06 and a 52 week high of $15.70. The firm has a 50-day simple moving average of $4.03 and a 200-day simple moving average of $4.80. The stock has a market capitalization of $721.73 million, a P/E ratio of -150.33 and a beta of 0.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). The firm had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. Ironwood Pharmaceuticals’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share. On average, analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.08 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.