Man Group plc Lowers Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Man Group plc decreased its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 60.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 354,824 shares of the biotechnology company's stock after selling 539,902 shares during the quarter. Man Group plc owned 0.22% of Ironwood Pharmaceuticals worth $1,572,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Journey Strategic Wealth LLC purchased a new position in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $45,000. Catalyst Funds Management Pty Ltd purchased a new position in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $47,000. Envestnet Asset Management Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $50,000. Xponance Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $50,000. Finally, SG Americas Securities LLC purchased a new position in shares of Ironwood Pharmaceuticals in the fourth quarter valued at approximately $53,000.

Ironwood Pharmaceuticals Stock Performance

IRWD stock traded up $0.03 during midday trading on Thursday, reaching $0.62. 197,804 shares of the company were exchanged, compared to its average volume of 2,572,521. Ironwood Pharmaceuticals, Inc. has a 1-year low of $0.53 and a 1-year high of $7.11. The stock's 50-day simple moving average is $0.92 and its 200 day simple moving average is $2.34. The company has a market cap of $100.00 million, a price-to-earnings ratio of -20.60 and a beta of 0.37.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.09). The business had revenue of $41.14 million for the quarter, compared to analysts' expectations of $67.02 million. Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. On average, research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current year.

Analyst Ratings Changes

IRWD has been the topic of several analyst reports. Wall Street Zen raised shares of Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Craig Hallum cut shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 16th. Leerink Partners reduced 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 report on Monday, April 14th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $0.70 target price (down previously from $8.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday, April 15th. Finally, JMP Securities reduced their target price on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a "market outperform" rating on the stock in a report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.