Arrowstreet Capital Limited Partnership Has $11.92 Million Stake in Ironwood Pharmaceuticals, Inc. $IRWD

Key Points

• Arrowstreet Capital increased its Ironwood Pharmaceuticals stake by 724.5% in the first quarter, acquiring 2.99 million additional shares and ending with 3.40 million shares worth approximately $11.92 million, or 2.08% of the company.
• Several other institutional investors also raised their positions, including Millennium Management, Jane Street, AQR Capital and Goldman Sachs, signaling increased institutional interest in IRWD.
• Ironwood reported quarterly revenue of $106.51 million, above estimates, but EPS of $0.24 slightly missed expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $6.23, while recent insider transactions were sales.

Arrowstreet Capital Limited Partnership boosted its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 724.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,397,242 shares of the biotechnology company's stock after acquiring an additional 2,985,181 shares during the quarter. Arrowstreet Capital Limited Partnership owned 2.08% of Ironwood Pharmaceuticals worth $11,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in Ironwood Pharmaceuticals by 535.8% in the 1st quarter. AQR Capital Management LLC now owns 2,523,875 shares of the biotechnology company's stock valued at $3,710,000 after acquiring an additional 2,126,889 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Ironwood Pharmaceuticals by 186.6% during the first quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company's stock valued at $9,349,000 after acquiring an additional 4,140,439 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Ironwood Pharmaceuticals in the first quarter valued at approximately $57,000. Goldman Sachs Group Inc. boosted its stake in Ironwood Pharmaceuticals by 72.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,575,416 shares of the biotechnology company's stock valued at $2,316,000 after acquiring an additional 660,144 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Ironwood Pharmaceuticals by 740.5% during the 1st quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company's stock worth $5,160,000 after acquiring an additional 3,092,475 shares during the period.

Ironwood Pharmaceuticals Stock Performance

NASDAQ:IRWD opened at $4.23 on Friday. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $0.71 and a fifty-two week high of $5.78. The firm has a market cap of $689.74 million, a PE ratio of 7.05 and a beta of 0.20. The business has a 50 day moving average price of $3.85 and a 200-day moving average price of $3.98.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last announced its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. The business had revenue of $106.51 million for the quarter, compared to the consensus estimate of $92.11 million. Research analysts predict that Ironwood Pharmaceuticals, Inc. will post 1.04 EPS for the current year.

Insiders Place Their Bets

In related news, insider Ronald Silver sold 127,890 shares of Ironwood Pharmaceuticals stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $4.52, for a total transaction of $578,062.80. Following the completion of the sale, the insider owned 313,680 shares in the company, valued at $1,417,833.60. This trade represents a 28.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Julie Mchugh sold 21,571 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.73, for a total transaction of $80,459.83. Following the transaction, the director directly owned 250,749 shares in the company, valued at $935,293.77. This trade represents a 7.92% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 9.30% of the company's stock.

Analyst Upgrades and Downgrades

IRWD has been the topic of several research reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ironwood Pharmaceuticals in a research report on Friday, July 24th. Zacks Research raised Ironwood Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 1st. Finally, Wall Street Zen upgraded Ironwood Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Sunday, May 17th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ironwood Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $6.23.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company's flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.

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