Daiwa Securities Group Inc. Boosts Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Daiwa Securities Group Inc. boosted its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 21.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 67,570 shares of the biotechnology company’s stock after acquiring an additional 11,800 shares during the period. Daiwa Securities Group Inc.’s holdings in Ironwood Pharmaceuticals were worth $278,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IRWD. Charles Schwab Investment Management Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 23.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock worth $7,846,000 after buying an additional 364,841 shares in the last quarter. Pacer Advisors Inc. boosted its position in Ironwood Pharmaceuticals by 26.6% during the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock worth $46,473,000 after acquiring an additional 2,372,183 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Ironwood Pharmaceuticals in the 3rd quarter worth approximately $181,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Ironwood Pharmaceuticals by 150.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,289 shares of the biotechnology company’s stock worth $520,000 after purchasing an additional 75,917 shares during the last quarter. Finally, Royce & Associates LP grew its position in shares of Ironwood Pharmaceuticals by 10.8% in the third quarter. Royce & Associates LP now owns 662,934 shares of the biotechnology company’s stock valued at $2,731,000 after purchasing an additional 64,353 shares during the period.

Analysts Set New Price Targets

IRWD has been the topic of several recent analyst reports. 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. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Capital One Financial downgraded Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $12.00 to $4.00 in a research report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

Insider Buying and Selling at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany sold 11,001 shares of the company’s stock in a transaction on Monday, November 18th. The shares were 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 of the company’s stock, valued at $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 12.90% of the stock is owned by insiders.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ:IRWD opened at $3.52 on Monday. The company has a market cap of $563.31 million, a P/E ratio of -117.33 and a beta of 0.47. Ironwood Pharmaceuticals, Inc. has a one year low of $3.26 and a one year high of $15.70. The business’s 50-day simple moving average is $4.12 and its 200 day simple moving average is $5.18.

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

Ironwood Pharmaceuticals Company 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.