Insider Selling: Ironwood Pharmaceuticals, Inc. (IRWD) CEO Sells $1,034,016.29 in Stock
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) CEO Peter M. Hecht sold 65,987 shares of the company’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $15.67, for a total transaction of $1,034,016.29. Following the completion of the transaction, the chief executive officer now owns 4,703,315 shares of the company’s stock, valued at $73,700,946.05. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) opened at 15.67 on Friday. Ironwood Pharmaceuticals, Inc. has a 12 month low of $7.35 and a 12 month high of $16.89. The company’s 50-day moving average is $15.59 and its 200 day moving average is $14.43. The stock’s market capitalization is $2.29 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.05. The company earned $66 million during the quarter, compared to analyst estimates of $60.01 million. Ironwood Pharmaceuticals had a negative net margin of 34.29% and a negative return on equity of 94.17%. Ironwood Pharmaceuticals’s quarterly revenue was up 66.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.25) earnings per share. Equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post ($0.75) earnings per share for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Parametrica Management Ltd purchased a new position in Ironwood Pharmaceuticals during the second quarter valued at approximately $150,000. Meeder Asset Management Inc. acquired a new stake in Ironwood Pharmaceuticals during the second quarter valued at $180,000. Alps Advisors Inc. increased its stake in Ironwood Pharmaceuticals by 25.9% in the second quarter. Alps Advisors Inc. now owns 180,481 shares of the company’s stock valued at $2,360,000 after buying an additional 37,144 shares during the period. Quantitative Systematic Strategies LLC increased its stake in Ironwood Pharmaceuticals by 292.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 58,701 shares of the company’s stock valued at $761,000 after buying an additional 43,750 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in Ironwood Pharmaceuticals during the second quarter valued at $241,000. 94.66% of the stock is owned by institutional investors.
Several research analysts have commented on IRWD shares. Wedbush upped their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, October 24th. Mizuho decreased their price objective on shares of Ironwood Pharmaceuticals from $24.00 to $19.00 and set a “buy” rating for the company in a report on Monday, October 10th. Zacks Investment Research lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. WallachBeth Capital upped their price objective on shares of Ironwood Pharmaceuticals from $15.00 to $17.00 and gave the stock a “hold” rating in a report on Tuesday, September 27th. Finally, BTIG Research restated a “buy” rating and issued a $18.00 price objective (up from $15.00) on shares of Ironwood Pharmaceuticals in a report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $15.64.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders.
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