Peter M. Hecht Sells 65,987 Shares of Ironwood Pharmaceuticals, Inc. (IRWD) Stock
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) CEO Peter M. Hecht sold 65,987 shares of the stock in a transaction that occurred on Thursday, January 12th. The shares were sold at an average price of $15.67, for a total transaction of $1,034,016.29. Following the transaction, the chief executive officer now owns 4,703,315 shares in the company, valued at $73,700,946.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) opened at 15.67 on Friday. The stock’s market cap is $2.29 billion. Ironwood Pharmaceuticals, Inc. has a 12-month low of $7.35 and a 12-month high of $16.89. The firm has a 50 day moving average of $15.59 and a 200-day moving average of $14.43.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Thursday, November 3rd. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.05. Ironwood Pharmaceuticals had a negative net margin of 34.29% and a negative return on equity of 94.17%. The firm had revenue of $66 million for the quarter, compared to the consensus estimate of $60.01 million. During the same period in the prior year, the firm earned ($0.25) EPS. The firm’s revenue for the quarter was up 66.7% on a year-over-year basis. On average, analysts expect that Ironwood Pharmaceuticals, Inc. will post ($0.75) earnings per share for the current year.
A number of large investors have recently made changes to their positions in IRWD. Strs Ohio acquired a new stake in shares of Ironwood Pharmaceuticals during the third quarter valued at $107,000. Joel Isaacson & Co. LLC purchased a new position in Ironwood Pharmaceuticals during the third quarter valued at approximately $109,000. Acrospire Investment Management LLC boosted its position in Ironwood Pharmaceuticals by 20.0% in the third quarter. Acrospire Investment Management LLC now owns 7,800 shares of the company’s stock valued at $124,000 after buying an additional 1,300 shares during the period. SG Americas Securities LLC purchased a new position in Ironwood Pharmaceuticals during the third quarter valued at approximately $127,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Ironwood Pharmaceuticals during the second quarter valued at approximately $144,000. 94.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on IRWD shares. Zacks Investment Research downgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. Mizuho dropped their price objective on shares of Ironwood Pharmaceuticals from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, October 10th. Wedbush increased their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, October 24th. WallachBeth Capital increased their price objective on shares of Ironwood Pharmaceuticals from $15.00 to $17.00 and gave the company a “hold” rating in a research note on Tuesday, September 27th. Finally, BTIG Research reiterated a “buy” rating and set a $18.00 price objective (up from $15.00) on shares of Ironwood Pharmaceuticals in a research note on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $15.64.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders.
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