Pacer Advisors Inc. Buys 2,372,183 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Pacer Advisors Inc. increased its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 26.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,279,822 shares of the biotechnology company's stock after acquiring an additional 2,372,183 shares during the quarter. Pacer Advisors Inc. owned about 7.06% of Ironwood Pharmaceuticals worth $46,473,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IRWD. Vanguard Group Inc. raised its position in shares of Ironwood Pharmaceuticals by 21.8% in the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company's stock valued at $170,031,000 after purchasing an additional 3,487,821 shares during the period. Armistice Capital LLC raised its holdings in Ironwood Pharmaceuticals by 44.4% in the 2nd quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company's stock valued at $50,856,000 after acquiring an additional 2,400,000 shares during the period. Kynam Capital Management LP acquired a new stake in Ironwood Pharmaceuticals during the first quarter worth approximately $14,154,000. Renaissance Technologies LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 20.7% during the second quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company's stock worth $55,889,000 after acquiring an additional 1,472,097 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Ironwood Pharmaceuticals by 40.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,235,580 shares of the biotechnology company's stock worth $36,892,000 after purchasing an additional 1,226,377 shares during the period.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals 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 transaction of $44,884.08. Following the sale, the chief financial officer now owns 309,572 shares of the company's stock, valued at approximately $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.90% of the stock is currently owned by company insiders.

Ironwood Pharmaceuticals Price Performance

NASDAQ IRWD traded up $0.10 during trading hours on Friday, reaching $3.44. The company's stock had a trading volume of 1,773,910 shares, compared to its average volume of 2,889,267. Ironwood Pharmaceuticals, Inc. has a 52 week low of $3.26 and a 52 week high of $15.70. The stock has a market cap of $550.50 million, a P/E ratio of -111.33 and a beta of 0.47. The firm has a fifty day simple moving average of $4.23 and a 200-day simple moving average of $5.36.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last issued 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). The business had revenue of $91.60 million during the quarter, compared to the consensus estimate 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 for the quarter was down 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. On average, research analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.