Russell Investments Group Ltd. reduced its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 8.9% during the third quarter, Holdings Channel reports. The institutional investor owned 78,417 shares of the biotechnology company’s stock after selling 7,684 shares during the period. Russell Investments Group Ltd.’s holdings in Ironwood Pharmaceuticals were worth $1,446,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. OppenheimerFunds Inc. raised its stake in Ironwood Pharmaceuticals by 11.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,872,640 shares of the biotechnology company’s stock valued at $54,925,000 after acquiring an additional 286,590 shares during the period. Aperio Group LLC increased its position in shares of Ironwood Pharmaceuticals by 34.2% during the second quarter. Aperio Group LLC now owns 21,185 shares of the biotechnology company’s stock valued at $405,000 after buying an additional 5,404 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Ironwood Pharmaceuticals by 11.3% during the second quarter. Public Employees Retirement System of Ohio now owns 120,370 shares of the biotechnology company’s stock valued at $2,301,000 after buying an additional 12,175 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Ironwood Pharmaceuticals by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 722,555 shares of the biotechnology company’s stock valued at $13,816,000 after buying an additional 44,157 shares during the period. Finally, Alps Advisors Inc. increased its position in shares of Ironwood Pharmaceuticals by 23.8% during the third quarter. Alps Advisors Inc. now owns 246,297 shares of the biotechnology company’s stock valued at $4,547,000 after buying an additional 47,400 shares during the period. 94.08% of the stock is currently owned by institutional investors.

In other news, insider Mark G. Currie sold 116,651 shares of the business’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $17.53, for a total transaction of $2,044,892.03. Following the completion of the transaction, the insider now owns 70,680 shares of the company’s stock, valued at $1,239,020.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.63% of the stock is currently owned by insiders.

Shares of IRWD opened at $12.31 on Friday. Ironwood Pharmaceuticals, Inc. has a twelve month low of $11.02 and a twelve month high of $21.20. The stock has a market cap of $1.95 billion, a PE ratio of -13.24 and a beta of 1.27.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.24). The firm had revenue of $68.69 million during the quarter, compared to the consensus estimate of $93.48 million. During the same period last year, the firm earned ($0.18) earnings per share. The company’s quarterly revenue was down 20.9% compared to the same quarter last year. On average, sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.91 EPS for the current year.

Several brokerages have recently weighed in on IRWD. HC Wainwright set a $13.00 price target on Ironwood Pharmaceuticals and gave the company a “sell” rating in a research report on Wednesday, October 31st. BidaskClub cut Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Wedbush reiterated a “neutral” rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, November 7th. BTIG Research set a $17.00 price target on Ironwood Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, November 7th. Finally, ValuEngine cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.45.

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Ironwood Pharmaceuticals Company 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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Institutional Ownership by Quarter for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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