Victory Capital Management Inc. Cuts Stock Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Victory Capital Management Inc. decreased its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 91.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,714 shares of the biotechnology company’s stock after selling 194,578 shares during the quarter. Victory Capital Management Inc.’s holdings in Ironwood Pharmaceuticals were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Ironwood Pharmaceuticals during the fourth quarter valued at approximately $68,000. KLP Kapitalforvaltning AS bought a new position in Ironwood Pharmaceuticals during the fourth quarter valued at approximately $107,000. Norges Bank bought a new position in Ironwood Pharmaceuticals during the fourth quarter valued at approximately $1,118,000. Geode Capital Management LLC lifted 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 valued at $14,652,000 after purchasing an additional 13,028 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in Ironwood Pharmaceuticals during the fourth quarter valued at approximately $50,000.

Analysts Set New Price Targets

Several research analysts have weighed in on IRWD shares. Craig Hallum downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Jefferies Financial Group reiterated a “hold” rating and issued a $0.70 price target (down from $8.00) on shares of Ironwood Pharmaceuticals in a research report on Tuesday, April 15th. Leerink Partners decreased their price target on shares of Ironwood Pharmaceuticals from $3.00 to $1.00 and set a “market perform” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $1.00 price target (down from $7.00) on shares of Ironwood Pharmaceuticals in a research report on Tuesday, April 15th. Finally, Citizens Jmp downgraded shares of Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.78.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD stock opened at $0.77 on Monday. The company has a market capitalization of $124.83 million, a price-to-earnings ratio of -3.86 and a beta of 0.33. Ironwood Pharmaceuticals, Inc. has a one year low of $0.53 and a one year high of $6.57. The company’s fifty day moving average price is $0.72 and its 200-day moving average price is $1.25.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.09). The firm had revenue of $41.14 million for the quarter, compared to the consensus estimate of $67.02 million. Ironwood Pharmaceuticals had a negative net margin of 9.89% and a negative return on equity of 1.87%. Equities research analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

About Ironwood Pharmaceuticals

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.