Victory Capital Management Inc. Lowers Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Victory Capital Management Inc. cut its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 2.1% in the third quarter, HoldingsChannel.com reports. The firm owned 218,009 shares of the biotechnology company’s stock after selling 4,564 shares during the quarter. Victory Capital Management Inc.’s holdings in Ironwood Pharmaceuticals were worth $898,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. GSA Capital Partners LLP grew its holdings in shares of Ironwood Pharmaceuticals by 194.9% during the 3rd quarter. GSA Capital Partners LLP now owns 351,193 shares of the biotechnology company’s stock worth $1,447,000 after purchasing an additional 232,087 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Ironwood Pharmaceuticals by 1,293.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 380,960 shares of the biotechnology company’s stock valued at $1,570,000 after acquiring an additional 353,624 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Ironwood Pharmaceuticals by 50.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 168,071 shares of the biotechnology company’s stock valued at $692,000 after acquiring an additional 56,097 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Ironwood Pharmaceuticals by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 30,723 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 12,047 shares during the period. Finally, Ballentine Partners LLC purchased a new position in Ironwood Pharmaceuticals during the 3rd quarter valued at about $89,000.

Ironwood Pharmaceuticals Price Performance

IRWD stock opened at $3.67 on Thursday. The firm has a market capitalization of $587.31 million, a P/E ratio of -122.33 and a beta of 0.47. The business’s 50-day moving average is $4.15 and its two-hundred day moving average is $5.23. Ironwood Pharmaceuticals, Inc. has a 1 year low of $3.26 and a 1 year high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The company had revenue of $91.60 million during the quarter, compared to analyst estimates of $91.22 million. During the same period in the prior year, the business earned $0.12 EPS. Ironwood Pharmaceuticals’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Insider Transactions at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the sale, the chief financial officer now owns 309,572 shares of the company’s stock, valued at approximately $1,263,053.76. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.90% of the company’s stock.

Analyst Upgrades and Downgrades

IRWD has been the subject of a number of research analyst reports. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Craig Hallum lowered their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company lowered their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 9th. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Leerink Partners started coverage on Ironwood Pharmaceuticals in a research report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Ironwood Pharmaceuticals Profile

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.