Federated Hermes Inc. Has $1.92 Million Stock Holdings 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. boosted its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 252.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,305,362 shares of the biotechnology company's stock after purchasing an additional 934,886 shares during the period. Federated Hermes Inc. owned about 0.81% of Ironwood Pharmaceuticals worth $1,919,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IRWD. Raymond James Financial Inc. bought a new position in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $68,000. KLP Kapitalforvaltning AS bought a new position in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $107,000. Norges Bank bought a new position in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $1,118,000. Geode Capital Management LLC raised its stake 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 valued at $14,652,000 after acquiring an additional 13,028 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $50,000.

Ironwood Pharmaceuticals Trading Up 1.9%

Shares of Ironwood Pharmaceuticals stock traded up $0.02 during midday trading on Friday, reaching $0.90. The company had a trading volume of 1,015,972 shares, compared to its average volume of 1,398,655. The company has a market capitalization of $145.14 million, a price-to-earnings ratio of -17.93 and a beta of 0.33. The stock has a fifty day simple moving average of $0.74 and a 200 day simple moving average of $1.18. Ironwood Pharmaceuticals, Inc. has a 1-year low of $0.53 and a 1-year high of $5.21.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.16. The business had revenue of $85.24 million during the quarter, compared to analyst estimates of $62.02 million. Ironwood Pharmaceuticals had a negative net margin of 2.25% and a negative return on equity of 2.45%. Sell-side analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IRWD. Leerink Partners cut their target price on shares of Ironwood Pharmaceuticals from $3.00 to $1.00 and set a "market perform" rating for the company in a research note on Monday, April 14th. Craig Hallum cut shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $1.00 target price (down previously from $7.00) on shares of Ironwood Pharmaceuticals in a research note on Tuesday, April 15th. Wall Street Zen upgraded shares of Ironwood Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Saturday. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $0.70 price target (down previously from $8.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday, April 15th. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $4.94.

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.