Vanguard Group Inc. Trims Stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Vanguard Group Inc. lessened its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 11.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,538,555 shares of the biotechnology company's stock after selling 2,499,542 shares during the quarter. Vanguard Group Inc. owned about 12.21% of Ironwood Pharmaceuticals worth $86,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IRWD. Journey Strategic Wealth LLC bought a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at $45,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter valued at about $47,000. Xponance Inc. bought a new stake in shares of Ironwood Pharmaceuticals during the 4th quarter valued at about $50,000. SG Americas Securities LLC purchased a new position in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $53,000. Finally, CIBC Asset Management Inc bought a new position in shares of Ironwood Pharmaceuticals in the fourth quarter worth approximately $53,000.

Ironwood Pharmaceuticals Price Performance

NASDAQ IRWD traded up $0.04 during trading on Tuesday, hitting $0.68. 2,671,295 shares of the company's stock traded hands, compared to its average volume of 2,506,175. The firm has a market cap of $110.68 million, a P/E ratio of -22.77 and a beta of 0.30. The stock has a fifty day moving average of $1.52 and a two-hundred day moving average of $3.10. Ironwood Pharmaceuticals, Inc. has a 12-month low of $0.59 and a 12-month high of $8.45.

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Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $90.55 million for the quarter, compared to the consensus estimate of $93.85 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. As a group, analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at Ironwood Pharmaceuticals

In related news, CMO Michael Shetzline sold 41,269 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $72,633.44. Following the sale, the chief marketing officer now directly owns 554,007 shares of the company's stock, valued at $975,052.32. This trade represents a 6.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas A. Mccourt sold 139,064 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $244,752.64. Following the transaction, the chief executive officer now directly owns 1,160,634 shares of the company's stock, valued at $2,042,715.84. The trade was a 10.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 192,381 shares of company stock worth $338,591. Insiders own 12.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on IRWD. Leerink Partners dropped their target price on shares of Ironwood Pharmaceuticals from $3.00 to $1.00 and set a "market perform" rating for the company in a research report on Monday. Jefferies Financial Group reaffirmed a "hold" rating and set a $0.70 price objective (down from $8.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday. JMP Securities cut their target price on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a "market outperform" rating for the company in a research report on Thursday, January 30th. StockNews.com upgraded Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 29th. Finally, Citizens Jmp cut Ironwood Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Monday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $4.78.

About Ironwood Pharmaceuticals

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.