Ironwood Pharmaceuticals, Inc. (IRWD) Position Increased by First Republic Investment Management Inc.
First Republic Investment Management Inc. raised its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 646.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 187,052 shares of the biotechnology company’s stock after purchasing an additional 161,994 shares during the quarter. First Republic Investment Management Inc.’s holdings in Ironwood Pharmaceuticals were worth $3,576,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of IRWD. Millennium Management LLC bought a new position in Ironwood Pharmaceuticals in the 4th quarter valued at $367,000. SG Americas Securities LLC bought a new position in Ironwood Pharmaceuticals in the 1st quarter valued at $138,000. Swiss National Bank raised its position in Ironwood Pharmaceuticals by 2.2% in the 1st quarter. Swiss National Bank now owns 223,500 shares of the biotechnology company’s stock valued at $3,449,000 after purchasing an additional 4,900 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in Ironwood Pharmaceuticals in the 1st quarter valued at $180,000. Finally, Schwab Charles Investment Management Inc. raised its position in Ironwood Pharmaceuticals by 5.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 678,398 shares of the biotechnology company’s stock valued at $10,468,000 after purchasing an additional 36,278 shares during the last quarter. Hedge funds and other institutional investors own 96.94% of the company’s stock.
IRWD has been the subject of several research analyst reports. BidaskClub upgraded Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 6th. Cowen reiterated a “market perform” rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, July 18th. ValuEngine upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Wells Fargo & Co set a $22.00 price objective on Ironwood Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, May 30th. Finally, HC Wainwright set a $13.00 price objective on Ironwood Pharmaceuticals and gave the company a “sell” rating in a research report on Wednesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.00.
IRWD stock opened at $18.27 on Friday. The firm has a market cap of $2.65 billion, a PE ratio of -19.66 and a beta of 0.77. Ironwood Pharmaceuticals, Inc. has a twelve month low of $12.89 and a twelve month high of $21.20. The company has a quick ratio of 2.93, a current ratio of 2.94 and a debt-to-equity ratio of -8.64.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Monday, August 6th. The biotechnology company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.09). The firm had revenue of $81.10 million for the quarter, compared to the consensus estimate of $82.61 million. Ironwood Pharmaceuticals had a negative return on equity of 2,073.20% and a negative net margin of 34.03%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.28) EPS. equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.82 earnings per share for the current fiscal year.
Ironwood Pharmaceuticals Profile
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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