Jacobs Levy Equity Management Inc. Cuts Stock Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Jacobs Levy Equity Management Inc. lessened its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,265,100 shares of the biotechnology company’s stock after selling 93,198 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Ironwood Pharmaceuticals were worth $17,572,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. PDT Partners LLC bought a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter valued at about $112,000. Walleye Capital LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 264.2% during the 3rd quarter. Walleye Capital LLC now owns 280,299 shares of the biotechnology company’s stock valued at $1,155,000 after purchasing an additional 203,331 shares during the last quarter. Stonepine Capital Management LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 1,982.8% in the 3rd quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company’s stock valued at $4,120,000 after acquiring an additional 951,988 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Ironwood Pharmaceuticals by 89.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 154,660 shares of the biotechnology company’s stock valued at $637,000 after acquiring an additional 72,815 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 25.1% in the 3rd quarter. FMR LLC now owns 169,681 shares of the biotechnology company’s stock valued at $699,000 after acquiring an additional 34,089 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Craig Hallum lowered their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 9th. Leerink Partners initiated coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.40.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ:IRWD opened at $3.55 on Thursday. The firm has a market cap of $568.10 million, a PE ratio of -118.33 and a beta of 0.41. The firm’s 50 day simple moving average is $4.09 and its 200-day simple moving average is $5.13. Ironwood Pharmaceuticals, Inc. has a one year low of $3.26 and a one year high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The company had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $91.22 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business’s revenue was down 19.4% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share. Equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal year.

Insider Transactions at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.08, for a total transaction of $44,884.08. Following the transaction, the chief financial officer now directly owns 309,572 shares of the company’s stock, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 12.90% of the company’s stock.

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.