Alliancebernstein L.P. reduced its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 27.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,660 shares of the biotechnology company’s stock after selling 88,180 shares during the period. Alliancebernstein L.P. owned approximately 0.16% of Ironwood Pharmaceuticals worth $4,355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in Ironwood Pharmaceuticals by 0.3% during the first quarter. Principal Financial Group Inc. now owns 24,051 shares of the biotechnology company’s stock worth $410,000 after purchasing an additional 62 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Ironwood Pharmaceuticals by 8.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 12,161 shares of the biotechnology company’s stock valued at $207,000 after purchasing an additional 898 shares in the last quarter. Aperio Group LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 11.9% in the 2nd quarter. Aperio Group LLC now owns 13,213 shares of the biotechnology company’s stock valued at $249,000 after purchasing an additional 1,410 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Ironwood Pharmaceuticals by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 47,773 shares of the biotechnology company’s stock valued at $900,000 after purchasing an additional 2,265 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Ironwood Pharmaceuticals by 1.2% in the 1st quarter. Swiss National Bank now owns 205,300 shares of the biotechnology company’s stock valued at $3,502,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 97.90% of the company’s stock.

Several brokerages have recently issued reports on IRWD. Wedbush reiterated a “neutral” rating and issued a $13.00 price target on shares of Ironwood Pharmaceuticals in a research note on Friday, June 16th. BidaskClub upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Mizuho upped their price objective on Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Zacks Investment Research raised Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, July 17th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $19.00 price objective (down from $20.00) on shares of Ironwood Pharmaceuticals in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Ironwood Pharmaceuticals has a consensus rating of “Hold” and an average price target of $18.29.

Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) opened at 16.28 on Wednesday. The company’s 50 day moving average price is $15.54 and its 200 day moving average price is $16.91. The firm’s market cap is $2.44 billion. Ironwood Pharmaceuticals, Inc. has a 12-month low of $12.48 and a 12-month high of $19.94.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.05). The company had revenue of $65.10 million during the quarter, compared to the consensus estimate of $70.00 million. Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. Ironwood Pharmaceuticals’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.16) EPS. Equities research analysts forecast that Ironwood Pharmaceuticals, Inc. will post ($1.10) 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.

Institutional Ownership by Quarter for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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