Allspring Global Investments Holdings LLC grew its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Rating) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 293,204 shares of the biotechnology company's stock after buying an additional 11,484 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.19% of Ironwood Pharmaceuticals worth $3,037,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in IRWD. Gladius Capital Management LP acquired a new position in shares of Ironwood Pharmaceuticals in the 2nd quarter valued at approximately $55,000. Banque Cantonale Vaudoise bought a new stake in shares of Ironwood Pharmaceuticals during the 2nd quarter valued at approximately $58,000. Captrust Financial Advisors grew its holdings in shares of Ironwood Pharmaceuticals by 441.7% during the 2nd quarter. Captrust Financial Advisors now owns 6,690 shares of the biotechnology company's stock valued at $77,000 after purchasing an additional 5,455 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Ironwood Pharmaceuticals during the 1st quarter valued at approximately $78,000. Finally, Quantbot Technologies LP bought a new stake in shares of Ironwood Pharmaceuticals during the 1st quarter valued at approximately $109,000.
Get Ironwood Pharmaceuticals alerts:Ironwood Pharmaceuticals Trading Down 1.6 %
IRWD opened at $11.41 on Wednesday. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $12.95. The company has a debt-to-equity ratio of 0.67, a current ratio of 25.78 and a quick ratio of 25.78. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 12.01 and a beta of 0.96. The company's 50 day moving average price is $11.89 and its two-hundred day moving average price is $11.39.
Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) last posted its earnings results on Thursday, November 3rd. The biotechnology company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The firm had revenue of $108.64 million for the quarter, compared to analyst estimates of $111.51 million. Ironwood Pharmaceuticals had a net margin of 39.85% and a return on equity of 30.24%. As a group, research analysts predict that Ironwood Pharmaceuticals, Inc. will post 1 earnings per share for the current year.Insider Transactions at Ironwood Pharmaceuticals
In other news, CEO Thomas A. Mccourt sold 110,962 shares of the business's stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $12.07, for a total value of $1,339,311.34. Following the transaction, the chief executive officer now owns 712,440 shares in the company, valued at approximately $8,599,150.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.10% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com lowered shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 17th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.67.
Ironwood Pharmaceuticals Company Profile
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Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It 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 Mexico, as well as under the CONSTELLA name in the Canada and European Union.
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