Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC reduced its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,160 shares of the biotechnology company’s stock after selling 2,230 shares during the period. Moran Wealth Management LLC’s holdings in Ironwood Pharmaceuticals were worth $2,290,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of IRWD. Mackenzie Financial Corp lifted its position in Ironwood Pharmaceuticals by 21.5% during the third quarter. Mackenzie Financial Corp now owns 12,713 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 2,253 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Ironwood Pharmaceuticals by 3.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,060 shares of the biotechnology company’s stock worth $877,000 after purchasing an additional 3,460 shares during the period. Inspire Investing LLC increased its holdings in Ironwood Pharmaceuticals by 7.8% in the 3rd quarter. Inspire Investing LLC now owns 31,669 shares of the biotechnology company’s stock valued at $305,000 after purchasing an additional 2,294 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Ironwood Pharmaceuticals by 96.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,997 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,961 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of Ironwood Pharmaceuticals during the third quarter worth about $686,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IRWD shares. Craig Hallum lowered their target price on Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 10th. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. Wells Fargo & Company reduced their target price on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Finally, Piper Sandler raised their price target on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.40.

Ironwood Pharmaceuticals Stock Performance

Shares of Ironwood Pharmaceuticals stock traded up $0.03 on Wednesday, hitting $6.66. 502,831 shares of the company’s stock traded hands, compared to its average volume of 4,162,779. Ironwood Pharmaceuticals, Inc. has a 52-week low of $6.21 and a 52-week high of $15.70. The firm’s 50-day moving average is $8.20 and its 200 day moving average is $10.53.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.20). The company had revenue of $74.90 million for the quarter, compared to the consensus estimate of $105.75 million. Ironwood Pharmaceuticals had a negative net margin of 254.41% and a negative return on equity of 28.45%. The company’s revenue was down 28.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. On average, analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sravan Kumar Emany purchased 10,684 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $9.38 per share, with a total value of $100,215.92. Following the transaction, the chief financial officer now owns 301,733 shares in the company, valued at approximately $2,830,255.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Sravan Kumar Emany bought 10,684 shares of the company’s stock in a transaction on Monday, March 4th. The shares were purchased at an average cost of $9.38 per share, with a total value of $100,215.92. Following the completion of the transaction, the chief financial officer now directly owns 301,733 shares of the company’s stock, valued at $2,830,255.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jon R. Duane bought 6,920 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $8.70 per share, with a total value of $60,204.00. Following the transaction, the director now owns 121,028 shares in the company, valued at approximately $1,052,943.60. The disclosure for this purchase can be found here. 13.10% of the stock is currently owned by company 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.