Pacer Advisors Inc. Grows Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Pacer Advisors Inc. boosted its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,730,771 shares of the biotechnology company’s stock after purchasing an additional 450,949 shares during the period. Pacer Advisors Inc. owned approximately 0.07% of Ironwood Pharmaceuticals worth $51,967,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. State Street Corp grew its position in Ironwood Pharmaceuticals by 7.3% during 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 acquiring an additional 364,841 shares during the period. Stonepine Capital Management LLC lifted its stake 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 valued at $4,120,000 after acquiring an additional 951,988 shares during the period. AQR Capital Management LLC lifted its stake in Ironwood Pharmaceuticals by 45.7% during the 2nd quarter. AQR Capital Management LLC now owns 684,578 shares of the biotechnology company’s stock valued at $4,463,000 after acquiring an additional 214,836 shares during the period. Finally, Royce & Associates LP lifted its stake in Ironwood Pharmaceuticals by 10.8% during the 3rd quarter. Royce & Associates LP now owns 662,934 shares of the biotechnology company’s stock valued at $2,731,000 after acquiring an additional 64,353 shares during the period.

Analyst Upgrades and Downgrades

IRWD has been the subject of several research reports. Craig Hallum decreased their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. StockNews.com cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Ironwood Pharmaceuticals Price Performance

IRWD opened at $3.80 on Tuesday. The firm has a fifty day moving average price of $3.90 and a 200 day moving average price of $4.54. Ironwood Pharmaceuticals, Inc. has a 1 year low of $3.06 and a 1 year high of $15.70. The stock has a market cap of $608.11 million, a P/E ratio of -126.67 and a beta of 0.34.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) 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 firm had revenue of $91.60 million during the quarter, compared to analyst estimates of $91.22 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. Equities analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling

In related 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 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. The trade was a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.90% of the stock is owned by insiders.

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.