Federated Hermes Inc. Boosts Stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Key Points

• Federated Hermes Inc. increased its stake in Ironwood Pharmaceuticals by 252.3%, acquiring 934,886 additional shares to total 1,305,362 shares, valued at approximately $1.9 million.
• Recent analyst ratings for Ironwood Pharmaceuticals revealed a mix, with Wall Street Zen upgrading to a "buy," while Wells Fargo and other firms have lowered their target prices significantly.
• Ironwood Pharmaceuticals reported a loss of $0.14 EPS in its latest earnings, missing estimates, and its revenue of $41.14 million fell short of expectations of $67.02 million.

Federated Hermes Inc. grew its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 252.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,305,362 shares of the biotechnology company's stock after acquiring an additional 934,886 shares during the period. Federated Hermes Inc. owned about 0.81% of Ironwood Pharmaceuticals worth $1,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IRWD. Raymond James Financial Inc. acquired a new stake in shares of Ironwood Pharmaceuticals during the 4th quarter worth approximately $68,000. KLP Kapitalforvaltning AS acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at $107,000. Norges Bank purchased a new position in Ironwood Pharmaceuticals in the fourth quarter valued at $1,118,000. Geode Capital Management LLC raised its position in shares of Ironwood Pharmaceuticals by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,306,570 shares of the biotechnology company's stock worth $14,652,000 after acquiring an additional 13,028 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Ironwood Pharmaceuticals during the 4th quarter worth about $50,000.

Ironwood Pharmaceuticals Trading Up 9.3%

Shares of NASDAQ IRWD traded up $0.08 during mid-day trading on Thursday, reaching $0.88. The company had a trading volume of 5,245,860 shares, compared to its average volume of 2,942,915. The firm has a 50 day simple moving average of $0.73 and a two-hundred day simple moving average of $1.20. Ironwood Pharmaceuticals, Inc. has a 52-week low of $0.53 and a 52-week high of $6.14. The stock has a market cap of $142.40 million, a P/E ratio of -4.40 and a beta of 0.33.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last announced its earnings results on Thursday, August 14th. The biotechnology company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.16. Ironwood Pharmaceuticals had a negative net margin of 9.89% and a negative return on equity of 1.87%. On average, equities analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group restated a "hold" rating and issued a $0.70 price objective (down from $8.00) on shares of Ironwood Pharmaceuticals in a research report on Tuesday, April 15th. Wall Street Zen raised shares of Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $1.00 price objective (down from $7.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday, April 15th. Leerink Partners dropped their target price 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. 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Ironwood Pharmaceuticals has an average rating of "Hold" and a consensus target price of $4.78.

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.