Wedge Capital Management L L P NC Cuts Stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Wedge Capital Management L L P NC decreased its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 289,023 shares of the biotechnology company’s stock after selling 25,820 shares during the period. Wedge Capital Management L L P NC’s holdings in Ironwood Pharmaceuticals were worth $1,280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its stake in shares of Ironwood Pharmaceuticals by 9.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 187,773 shares of the biotechnology company’s stock worth $832,000 after acquiring an additional 16,962 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Ironwood Pharmaceuticals in the third quarter valued at about $78,000. Vestcor Inc raised its stake in shares of Ironwood Pharmaceuticals by 37.8% in the third quarter. Vestcor Inc now owns 159,466 shares of the biotechnology company’s stock worth $657,000 after purchasing an additional 43,703 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 102.7% during the third quarter. Jane Street Group LLC now owns 323,638 shares of the biotechnology company’s stock worth $1,333,000 after purchasing an additional 164,006 shares during the period. Finally, Wolverine Trading LLC purchased a new stake in Ironwood Pharmaceuticals in the third quarter valued at approximately $51,000.

Ironwood Pharmaceuticals Price Performance

Shares of NASDAQ IRWD opened at $3.66 on Tuesday. The firm’s 50 day simple moving average is $3.94 and its 200-day simple moving average is $4.62. Ironwood Pharmaceuticals, Inc. has a 12 month low of $3.06 and a 12 month high of $15.70. The stock has a market capitalization of $585.71 million, a price-to-earnings ratio of -122.00 and a beta of 0.34.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $91.22 million. During the same period in the previous year, the company earned $0.12 earnings per share. The company’s revenue was down 19.4% compared to the same quarter last year. Analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. 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, the company presently has an average rating of “Moderate Buy” and an average price target of $10.40.

Insider Buying and Selling

In other news, CFO Sravan Kumar Emany sold 11,001 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the completion of the sale, the chief financial officer now directly owns 309,572 shares in the company, valued at $1,263,053.76. This represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.90% of the stock is owned by insiders.

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.