Balyasny Asset Management LLC Buys 18,883 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)
Balyasny Asset Management LLC grew its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 147.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,670 shares of the biotechnology company’s stock after buying an additional 18,883 shares during the quarter. Balyasny Asset Management LLC’s holdings in Ironwood Pharmaceuticals were worth $327,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Advisor Group Holdings Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 1,729.8% during the second quarter. Advisor Group Holdings Inc. now owns 2,580 shares of the biotechnology company’s stock worth $27,000 after buying an additional 2,439 shares in the last quarter. Federated Hermes Inc. grew its position in Ironwood Pharmaceuticals by 1.1% during the 2nd quarter. Federated Hermes Inc. now owns 588,717 shares of the biotechnology company’s stock worth $6,076,000 after acquiring an additional 6,547 shares during the last quarter. Marshall Wace North America L.P. increased its holdings in Ironwood Pharmaceuticals by 2,100.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 148,924 shares of the biotechnology company’s stock worth $1,537,000 after purchasing an additional 142,155 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Ironwood Pharmaceuticals by 399.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 209,200 shares of the biotechnology company’s stock valued at $2,159,000 after purchasing an additional 167,300 shares during the last quarter. Finally, Athanor Capital LP acquired a new stake in shares of Ironwood Pharmaceuticals during the second quarter valued at about $824,000.
A number of research analysts recently issued reports on IRWD shares. ValuEngine lowered shares of Ironwood Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, August 7th. BidaskClub upgraded shares of Ironwood Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Northland Securities reiterated a “buy” rating on shares of Ironwood Pharmaceuticals in a report on Monday, August 3rd. Morgan Stanley increased their price objective on Ironwood Pharmaceuticals from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Finally, Credit Suisse Group cut their target price on Ironwood Pharmaceuticals from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, June 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Ironwood Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $12.17.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. Ironwood Pharmaceuticals had a negative return on equity of 160.69% and a net margin of 22.74%. The company had revenue of $89.43 million for the quarter, compared to the consensus estimate of $85.38 million. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue was down 12.5% compared to the same quarter last year. As a group, analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.51 earnings per share for the current year.
In other news, Director Julie Mchugh sold 7,950 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $9.77, for a total transaction of $77,671.50. Following the completion of the sale, the director now owns 123,107 shares of the company’s stock, valued at approximately $1,202,755.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by insiders.
Ironwood Pharmaceuticals Profile
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.
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