Bank of New York Mellon Corp Sells 478,522 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

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 decreased its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 48.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.31% of Ironwood Pharmaceuticals worth $734,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ironwood Pharmaceuticals in the 4th quarter valued at $36,000. MetLife Investment Management LLC boosted its stake in Ironwood Pharmaceuticals by 10.6% in the 4th quarter. MetLife Investment Management LLC now owns 89,255 shares of the biotechnology company's stock valued at $395,000 after buying an additional 8,559 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Ironwood Pharmaceuticals by 88.9% in the 4th quarter. Hsbc Holdings PLC now owns 20,886 shares of the biotechnology company's stock valued at $91,000 after buying an additional 9,828 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Ironwood Pharmaceuticals by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 218,422 shares of the biotechnology company's stock valued at $968,000 after buying an additional 10,149 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Ironwood Pharmaceuticals by 81.1% in the 4th quarter. Bank of Montreal Can now owns 24,758 shares of the biotechnology company's stock valued at $110,000 after buying an additional 11,089 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Craig Hallum lowered Ironwood Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Citizens Jmp lowered Ironwood Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Monday, April 14th. Leerink Partners reduced their price objective on Ironwood Pharmaceuticals from $3.00 to $1.00 and set a "market perform" rating on the stock in a research note on Monday, April 14th. Wall Street Zen raised Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $1.00 price objective (down previously from $7.00) on shares of Ironwood Pharmaceuticals in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $4.78.

Ironwood Pharmaceuticals Price Performance

Shares of Ironwood Pharmaceuticals stock opened at $0.77 on Friday. Ironwood Pharmaceuticals, Inc. has a 1 year low of $0.53 and a 1 year high of $6.57. The business has a 50-day moving average of $0.72 and a two-hundred day moving average of $1.27. The company has a market capitalization of $124.83 million, a P/E ratio of -3.86 and a beta of 0.33.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported ($0.14) earnings per share 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 analyst estimates of $67.02 million. Ironwood Pharmaceuticals had a negative return on equity of 1.87% and a negative net margin of 9.89%. On average, equities analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

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.

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