Northern Trust Corp Acquires 118,962 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Northern Trust Corp raised its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,625,110 shares of the biotechnology company’s stock after purchasing an additional 118,962 shares during the quarter. Northern Trust Corp owned 1.02% of Ironwood Pharmaceuticals worth $7,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in Ironwood Pharmaceuticals by 4.0% in the fourth quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock worth $51,967,000 after purchasing an additional 450,949 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Ironwood Pharmaceuticals by 5.5% in the fourth quarter. Renaissance Technologies LLC now owns 9,066,241 shares of the biotechnology company’s stock worth $40,163,000 after acquiring an additional 469,043 shares during the period. Geode Capital Management LLC raised its position in Ironwood Pharmaceuticals by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 3,306,570 shares of the biotechnology company’s stock worth $14,652,000 after acquiring an additional 13,028 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Ironwood Pharmaceuticals by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,983,240 shares of the biotechnology company’s stock valued at $8,786,000 after purchasing an additional 78,969 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Ironwood Pharmaceuticals by 7.2% in the fourth quarter. Bank of New York Mellon Corp now owns 978,135 shares of the biotechnology company’s stock valued at $4,333,000 after purchasing an additional 65,357 shares in the last quarter.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD stock opened at $0.61 on Tuesday. Ironwood Pharmaceuticals, Inc. has a 12 month low of $0.53 and a 12 month high of $7.11. The company’s fifty day moving average price is $1.05 and its two-hundred day moving average price is $2.50. The firm has a market capitalization of $99.02 million, a P/E ratio of -20.40 and a beta of 0.37.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Wednesday, May 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.09). The business had revenue of $41.14 million during the quarter, compared to the consensus estimate of $67.02 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. On average, sell-side analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on IRWD shares. Citizens Jmp cut shares of Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, April 14th. Wells Fargo & Company reissued an “equal weight” rating and set a $1.00 price target (down previously from $7.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday, April 15th. Craig Hallum lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 16th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Finally, Leerink Partners dropped their target price on Ironwood Pharmaceuticals from $3.00 to $1.00 and set a “market perform” rating for the company in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.78.

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.