Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Sold by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC trimmed its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 48.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 455,477 shares of the biotechnology company's stock after selling 420,791 shares during the quarter. Parkman Healthcare Partners LLC owned about 0.29% of Ironwood Pharmaceuticals worth $1,877,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its holdings in Ironwood Pharmaceuticals by 1,293.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 380,960 shares of the biotechnology company's stock worth $1,570,000 after acquiring an additional 353,624 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in 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 buying an additional 75,917 shares in the last quarter. Pacer Advisors Inc. raised its position in Ironwood Pharmaceuticals by 26.6% in the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company's stock valued at $46,473,000 after purchasing an additional 2,372,183 shares during the period. KBC Group NV raised its position in Ironwood Pharmaceuticals by 59.3% in the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company's stock valued at $35,000 after purchasing an additional 3,198 shares during the period. Finally, Hodges Capital Management Inc. grew its stake in shares of Ironwood Pharmaceuticals by 20.6% in the second quarter. Hodges Capital Management Inc. now owns 1,041,000 shares of the biotechnology company's stock valued at $6,787,000 after buying an additional 177,500 shares in the last quarter.

Insider Activity

In related news, CFO Sravan Kumar Emany sold 11,001 shares of Ironwood Pharmaceuticals stock in a transaction 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 transaction, the chief financial officer now owns 309,572 shares in the company, valued at approximately $1,263,053.76. This trade represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.90% of the company's stock.

Wall Street Analysts Forecast Growth

IRWD has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. Leerink Partners began coverage on Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a "market perform" rating and a $5.00 price objective for the company. Capital One Financial downgraded Ironwood Pharmaceuticals from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $12.00 to $4.00 in a research note on Thursday, August 8th. Craig Hallum cut their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Finally, StockNews.com downgraded Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Three 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 currently has an average rating of "Moderate Buy" and an average target price of $10.40.

Ironwood Pharmaceuticals Price Performance

Ironwood Pharmaceuticals stock traded up $0.01 during mid-day trading on Wednesday, hitting $3.55. 1,188,229 shares of the company were exchanged, compared to its average volume of 2,849,639. The business's 50 day simple moving average is $4.10 and its two-hundred day simple moving average is $5.14. The company has a market capitalization of $568.10 million, a P/E ratio of -118.00 and a beta of 0.41. Ironwood Pharmaceuticals, Inc. has a 12-month low of $3.26 and a 12-month high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released its quarterly earnings results 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). 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 quarterly revenue was down 19.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 EPS. Equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current year.

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.