Comerica Bank trimmed its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Rating) by 22.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,127 shares of the biotechnology company's stock after selling 27,845 shares during the period. Comerica Bank's holdings in Ironwood Pharmaceuticals were worth $1,031,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Raymond James & Associates lifted its position in Ironwood Pharmaceuticals by 11.1% during the first quarter. Raymond James & Associates now owns 24,117 shares of the biotechnology company's stock valued at $303,000 after purchasing an additional 2,418 shares during the period. Cetera Advisor Networks LLC raised its stake in shares of Ironwood Pharmaceuticals by 8.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 11,021 shares of the biotechnology company's stock valued at $139,000 after buying an additional 893 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Ironwood Pharmaceuticals by 6.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 41,253 shares of the biotechnology company's stock valued at $518,000 after buying an additional 2,402 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Ironwood Pharmaceuticals by 55.5% in the first quarter. MetLife Investment Management LLC now owns 79,249 shares of the biotechnology company's stock worth $997,000 after buying an additional 28,288 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Ironwood Pharmaceuticals by 4.0% during the first quarter. Rhumbline Advisers now owns 164,608 shares of the biotechnology company's stock worth $2,071,000 after acquiring an additional 6,277 shares during the period.
Get Ironwood Pharmaceuticals alerts:Ironwood Pharmaceuticals Stock Up 0.6 %
IRWD opened at $11.46 on Wednesday. The company has a fifty day moving average of $11.88 and a two-hundred day moving average of $11.37. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 12.06 and a beta of 0.96. 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 quick ratio of 25.78 and a current ratio of 25.78.
Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The biotechnology company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $108.64 million during the quarter, compared to analyst estimates of $111.51 million. Ironwood Pharmaceuticals had a return on equity of 30.24% and a net margin of 39.85%. On average, research analysts expect that Ironwood Pharmaceuticals, Inc. will post 1 earnings per share for the current year.Insider Activity
In other news, CEO Thomas A. Mccourt sold 110,962 shares of the stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $12.07, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.10% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 17th.
About Ironwood Pharmaceuticals
(Get Rating)
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.
See Also
- Get a free copy of the StockNews.com research report on Ironwood Pharmaceuticals (IRWD)
- Pliant Therapeutics Gaps 34% Higher: More Upside To Come?
- How Will Early 2023 Layoffs Affect These 5 Biotech Stocks?
- Is the Pain Over for Baudax Bio Investors after a 70% Spike?
- Will Rocket Lab's First U.S. Launch Send Stock Into Stratosphere?
- Is It Time To Get Aggressive With Defense Stocks?
Want to see what other hedge funds are holding IRWD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Rating).
Receive News & Ratings for Ironwood Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.