Pacer Advisors Inc. Increases Stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Pacer Advisors Inc. boosted its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 26.6% in the third quarter, HoldingsChannel.com reports. The firm owned 11,279,822 shares of the biotechnology company’s stock after buying an additional 2,372,183 shares during the quarter. Pacer Advisors Inc. owned about 0.07% of Ironwood Pharmaceuticals worth $46,473,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. CWM LLC increased its position in Ironwood Pharmaceuticals by 55.1% in the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 2,345 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Ironwood Pharmaceuticals by 3.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 70,400 shares of the biotechnology company’s stock worth $459,000 after acquiring an additional 2,400 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of Ironwood Pharmaceuticals by 3.6% during the second quarter. SummerHaven Investment Management LLC now owns 72,030 shares of the biotechnology company’s stock worth $470,000 after acquiring an additional 2,491 shares during the period. Rhumbline Advisers raised its holdings in Ironwood Pharmaceuticals by 0.7% during the second quarter. Rhumbline Advisers now owns 365,701 shares of the biotechnology company’s stock worth $2,384,000 after purchasing an additional 2,577 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in Ironwood Pharmaceuticals by 8.1% in the first quarter. ProShare Advisors LLC now owns 38,883 shares of the biotechnology company’s stock valued at $339,000 after purchasing an additional 2,917 shares during the period.

Analysts Set New Price Targets

IRWD has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Leerink Partners began coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They set a “market perform” rating and a $5.00 price objective on the stock. StockNews.com downgraded 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 Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.40.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD opened at $3.34 on Friday. Ironwood Pharmaceuticals, Inc. has a 12-month low of $3.31 and a 12-month high of $15.70. The business’s fifty day moving average price is $4.25 and its 200 day moving average price is $5.38. The stock has a market capitalization of $534.49 million, a PE ratio of -111.33 and a beta of 0.47.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The business had revenue of $91.60 million for the quarter, compared to analyst estimates of $91.22 million. Ironwood Pharmaceuticals’s revenue was down 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 EPS. As a group, research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total value of $44,884.08. Following the sale, the chief financial officer now directly owns 309,572 shares in the company, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.