Ironwood Pharmaceuticals, Inc. (IRWD) Holdings Boosted by Granahan Investment Management Inc. MA
Granahan Investment Management Inc. MA grew its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 24.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 436,000 shares of the biotechnology company’s stock after buying an additional 85,904 shares during the quarter. Granahan Investment Management Inc. MA owned 0.29% of Ironwood Pharmaceuticals worth $6,876,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Ironwood Pharmaceuticals by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 10,761,867 shares of the biotechnology company’s stock worth $203,184,000 after buying an additional 256,406 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Ironwood Pharmaceuticals during the 2nd quarter worth approximately $150,460,000. State Street Corp lifted its position in shares of Ironwood Pharmaceuticals by 13.7% during the 2nd quarter. State Street Corp now owns 4,530,267 shares of the biotechnology company’s stock worth $85,533,000 after buying an additional 545,464 shares in the last quarter. EcoR1 Capital LLC lifted its position in shares of Ironwood Pharmaceuticals by 29.2% during the 2nd quarter. EcoR1 Capital LLC now owns 3,753,635 shares of the biotechnology company’s stock worth $70,869,000 after buying an additional 848,120 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its position in shares of Ironwood Pharmaceuticals by 37.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,622,507 shares of the biotechnology company’s stock worth $41,357,000 after buying an additional 715,147 shares in the last quarter.
In related news, CEO Peter M. Hecht sold 113,405 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $15.12, for a total value of $1,714,683.60. Following the completion of the transaction, the chief executive officer now directly owns 4,696,917 shares in the company, valued at approximately $71,017,385.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 115,769 shares of company stock valued at $1,752,491 over the last quarter. 7.63% of the stock is owned by company insiders.
Several equities analysts have commented on the stock. Mizuho cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $16.00 in a research report on Wednesday, December 6th. Cowen set a $20.00 price target on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, August 21st. BidaskClub cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Credit Suisse Group assumed coverage on shares of Ironwood Pharmaceuticals in a report on Monday, November 27th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, ValuEngine cut shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Ironwood Pharmaceuticals has an average rating of “Hold” and a consensus price target of $17.88.
Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ IRWD) opened at $15.31 on Tuesday. The company has a debt-to-equity ratio of -22.31, a quick ratio of 4.86 and a current ratio of 4.87. Ironwood Pharmaceuticals, Inc. has a 1-year low of $13.43 and a 1-year high of $19.94.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.07. The company had revenue of $86.80 million for the quarter, compared to analysts’ expectations of $73.59 million. Ironwood Pharmaceuticals had a negative net margin of 48.89% and a negative return on equity of 645.22%. Ironwood Pharmaceuticals’s revenue was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.18) EPS. equities analysts forecast that Ironwood Pharmaceuticals, Inc. will post -1.12 EPS for the current year.
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About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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