Bank of Montreal Can Lowers Position in Ironwood Pharmaceuticals, Inc. (IRWD)
Bank of Montreal Can decreased its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 32.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,587 shares of the biotechnology company’s stock after selling 31,703 shares during the period. Bank of Montreal Can’s holdings in Ironwood Pharmaceuticals were worth $1,257,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in IRWD. Strs Ohio raised its stake in Ironwood Pharmaceuticals by 132.1% in the first quarter. Strs Ohio now owns 6,500 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 3,700 shares during the last quarter. Jane Street Group LLC acquired a new stake in Ironwood Pharmaceuticals during the first quarter valued at approximately $194,000. Karp Capital Management Corp acquired a new stake in Ironwood Pharmaceuticals during the first quarter valued at approximately $201,000. Raymond James Financial Services Advisors Inc. raised its stake in Ironwood Pharmaceuticals by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,161 shares of the biotechnology company’s stock valued at $207,000 after buying an additional 898 shares during the last quarter. Finally, KCG Holdings Inc. raised its stake in Ironwood Pharmaceuticals by 20.5% in the first quarter. KCG Holdings Inc. now owns 14,270 shares of the biotechnology company’s stock valued at $243,000 after buying an additional 2,428 shares during the last quarter. 97.85% of the stock is owned by hedge funds and other institutional investors.
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) remained flat at $14.50 during midday trading on Friday. The company had a trading volume of 1,294,448 shares. The company’s market cap is $2.17 billion. The firm’s 50-day moving average price is $17.19 and its 200-day moving average price is $17.15. Ironwood Pharmaceuticals, Inc. has a 12 month low of $12.48 and a 12 month high of $19.94.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.05. Ironwood Pharmaceuticals had a negative net margin of 52.97% and a negative return on equity of 333.83%. The company had revenue of $65.10 million during the quarter, compared to analyst estimates of $70 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The company’s revenue was up 19.7% compared to the same quarter last year. Equities analysts predict that Ironwood Pharmaceuticals, Inc. will post ($1.10) EPS for the current year.
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Several equities research analysts have recently commented on the stock. ValuEngine lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. BidaskClub lowered shares of Ironwood Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Cowen and Company set a $20.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 4th. Mizuho reaffirmed a “buy” rating and set a $23.00 price target (up previously from $22.00) on shares of Ironwood Pharmaceuticals in a research report on Wednesday, August 2nd. Finally, Wedbush reaffirmed a “neutral” rating and set a $13.00 price target on shares of Ironwood Pharmaceuticals in a research report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $18.50.
In other Ironwood Pharmaceuticals news, insider Halley E. Gilbert sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $19.75, for a total value of $691,250.00. Following the completion of the transaction, the insider now directly owns 35,000 shares of the company’s stock, valued at $691,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.63% of the company’s stock.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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