State Street Corp Purchases 677,024 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

State Street Corp raised its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,919,865 shares of the biotechnology company's stock after acquiring an additional 677,024 shares during the period. State Street Corp owned approximately 6.21% of Ironwood Pharmaceuticals worth $40,870,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Quantinno Capital Management LP increased its holdings in shares of Ironwood Pharmaceuticals by 40.0% in the third quarter. Quantinno Capital Management LP now owns 19,191 shares of the biotechnology company's stock worth $79,000 after purchasing an additional 5,482 shares during the last quarter. Redwood Investment Management LLC grew its holdings in Ironwood Pharmaceuticals by 12.4% during the 3rd quarter. Redwood Investment Management LLC now owns 534,560 shares of the biotechnology company's stock valued at $2,149,000 after buying an additional 58,783 shares in the last quarter. PDT Partners LLC bought a new stake in Ironwood Pharmaceuticals in the 3rd quarter worth approximately $112,000. Walleye Capital LLC raised its holdings in shares of Ironwood Pharmaceuticals by 264.2% during the 3rd quarter. Walleye Capital LLC now owns 280,299 shares of the biotechnology company's stock worth $1,155,000 after acquiring an additional 203,331 shares in the last quarter. Finally, Stonepine Capital Management LLC boosted its position in shares of Ironwood Pharmaceuticals by 1,982.8% during the 3rd quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company's stock valued at $4,120,000 after acquiring an additional 951,988 shares during the last quarter.

Insider Transactions at Ironwood Pharmaceuticals

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 309,572 shares of the company's stock, 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 SEC, which can be accessed through this link. Corporate insiders own 12.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IRWD shares. StockNews.com cut shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 12th. Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a "hold" rating in a research report on Monday, September 9th. Finally, Leerink Partners started coverage on Ironwood Pharmaceuticals in a research report on Monday, September 9th. They issued a "market perform" rating and a $5.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ironwood Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.40.

Ironwood Pharmaceuticals Trading Up 14.7 %

Shares of IRWD stock traded up $0.57 during trading hours on Friday, reaching $4.45. 11,007,880 shares of the stock were exchanged, compared to its average volume of 2,868,414. Ironwood Pharmaceuticals, Inc. has a 12-month low of $3.06 and a 12-month high of $15.70. The firm has a market capitalization of $712.12 million, a price-to-earnings ratio of -148.33 and a beta of 0.41. The company's 50-day moving average price is $3.97 and its 200-day moving average price is $4.91.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. During the same period in the prior year, the company posted $0.12 EPS. The company's quarterly revenue was down 19.4% compared to the same quarter last year. On average, sell-side analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS 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.