Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp reduced its stake in Ironwood Pharmaceuticals by 48.9% in Q1, selling 478,522 shares and now holding approximately 0.31% of the company worth $734,000.
• The stock recently received mixed analyst ratings, with seven analysts rating it as a "hold" and two as a "buy," reflecting a consensus target price of $4.78.
• Ironwood Pharmaceuticals reported a quarterly loss of ($0.14) per share, missing expectations, with revenues of $41.14 million against estimates of $67.02 million.

Bank of New York Mellon Corp trimmed its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 48.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 499,613 shares of the biotechnology company's stock after selling 478,522 shares during the quarter. Bank of New York Mellon Corp owned about 0.31% of Ironwood Pharmaceuticals worth $734,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IRWD. Raymond James Financial Inc. purchased a new position in Ironwood Pharmaceuticals in the fourth quarter worth about $68,000. KLP Kapitalforvaltning AS purchased a new position in Ironwood Pharmaceuticals in the fourth quarter worth about $107,000. Norges Bank purchased a new position in shares of Ironwood Pharmaceuticals during the fourth quarter valued at approximately $1,118,000. Geode Capital Management LLC boosted its position in shares of 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 buying an additional 13,028 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the fourth quarter valued at approximately $50,000.

Ironwood Pharmaceuticals Trading Up 3.4%

Shares of IRWD stock traded up $0.03 during trading hours on Wednesday, reaching $0.83. 531,211 shares of the company's stock were exchanged, compared to its average volume of 2,924,413. The stock's 50 day moving average is $0.72 and its 200-day moving average is $1.22. The company has a market cap of $134.63 million, a price-to-earnings ratio of -4.18 and a beta of 0.33. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $0.53 and a fifty-two week high of $6.28.

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

Analyst Ratings Changes

Several research analysts have issued reports on IRWD shares. 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 report on Monday, April 14th. Jefferies Financial Group reaffirmed a "hold" rating and set a $0.70 price target (down previously from $8.00) on shares of Ironwood Pharmaceuticals in a research note on Tuesday, April 15th. Craig Hallum downgraded shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Citizens Jmp downgraded shares of Ironwood Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Monday, April 14th. Finally, Wall Street Zen raised shares of Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.78.

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.