Jupiter Asset Management Ltd. Sells 225,160 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Jupiter Asset Management Ltd. cut its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 15.5% in the 4th quarter, HoldingsChannel reports. The fund owned 1,223,275 shares of the biotechnology company’s stock after selling 225,160 shares during the period. Jupiter Asset Management Ltd.’s holdings in Ironwood Pharmaceuticals were worth $5,419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV increased its position in shares of Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 3,198 shares in the last quarter. Journey Strategic Wealth LLC bought a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $45,000. SG Americas Securities LLC bought a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $53,000. CIBC Asset Management Inc bought a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $53,000. Finally, Wolverine Trading LLC bought a new stake in shares of Ironwood Pharmaceuticals during the third quarter worth about $51,000.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CMO Michael Shetzline sold 41,269 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $72,633.44. Following the transaction, the chief marketing officer now directly owns 554,007 shares in the company, valued at $975,052.32. The trade was a 6.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas A. Mccourt sold 139,064 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $244,752.64. Following the completion of the transaction, the chief executive officer now owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. The trade was a 10.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,381 shares of company stock worth $338,591 over the last three months. 12.90% of the stock is currently owned by insiders.

Ironwood Pharmaceuticals Stock Down 1.9 %

IRWD opened at $1.51 on Friday. The stock has a market cap of $241.64 million, a price-to-earnings ratio of -50.33 and a beta of 0.37. Ironwood Pharmaceuticals, Inc. has a twelve month low of $1.34 and a twelve month high of $9.23. The company’s 50-day moving average price is $2.62 and its two-hundred day moving average price is $3.64.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $90.55 million during the quarter, compared to analysts’ expectations of $93.85 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. As a group, sell-side analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JMP Securities reduced their price objective on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a research report on Thursday, January 30th. Craig Hallum reduced their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, StockNews.com raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.60.

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.