Pacer Advisors Inc. Makes New $3.98 Million Investment in Ironwood Pharmaceuticals, Inc. $IRWD

Key Points

• Pacer Advisors acquired 1.13 million shares of Ironwood Pharmaceuticals during the first quarter, investing approximately $3.98 million and taking a 0.70% stake.
• Institutional ownership increased as several major funds expanded their positions, including Bank of America, Millennium Management and AQR Capital Management.
• Ironwood reported quarterly earnings of $0.31 per share and revenue of $113.04 million, both slightly below analyst expectations. Analysts maintain a consensus “Hold” rating with a $6.23 price target, while recent insider sales add a mixed signal.

Pacer Advisors Inc. acquired a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,134,512 shares of the biotechnology company's stock, valued at approximately $3,982,000. Pacer Advisors Inc. owned 0.70% of Ironwood Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Ironwood Pharmaceuticals by 248.3% during the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company's stock valued at $15,321,000 after buying an additional 8,337,672 shares in the last quarter. Millennium Management LLC increased its holdings in Ironwood Pharmaceuticals by 186.6% in the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company's stock worth $9,349,000 after acquiring an additional 4,140,439 shares in the last quarter. AQR Capital Management LLC raised its position in Ironwood Pharmaceuticals by 144.3% during the second quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company's stock worth $4,422,000 after acquiring an additional 3,641,762 shares during the period. Charles Schwab Investment Management Inc. raised its position in Ironwood Pharmaceuticals by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,975,939 shares of the biotechnology company's stock worth $16,769,000 after acquiring an additional 58,603 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Ironwood Pharmaceuticals by 40.7% during the fourth quarter. Marshall Wace LLP now owns 4,424,002 shares of the biotechnology company's stock valued at $14,909,000 after purchasing an additional 1,279,863 shares in the last quarter.

Wall Street Analysts Forecast Growth

IRWD has been the topic of several research analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Ironwood Pharmaceuticals in a research report on Friday, July 24th. Zacks Research downgraded shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Ironwood Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.23.

Ironwood Pharmaceuticals Stock Performance

NASDAQ:IRWD opened at $4.26 on Friday. Ironwood Pharmaceuticals, Inc. has a one year low of $0.81 and a one year high of $5.78. The stock has a market cap of $694.64 million, a PE ratio of 7.10 and a beta of 0.20. The stock has a 50 day moving average price of $3.89 and a 200 day moving average price of $3.96.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The company had revenue of $113.04 million for the quarter, compared to analyst estimates of $114.84 million. Ironwood Pharmaceuticals had a negative return on equity of 39.65% and a net margin of 28.26%. As a group, analysts predict that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Julie Mchugh sold 21,571 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.73, for a total transaction of $80,459.83. Following the transaction, the director owned 250,749 shares of the company's stock, valued at approximately $935,293.77. The trade was a 7.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ronald Silver sold 127,890 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $4.52, for a total transaction of $578,062.80. Following the sale, the insider owned 313,680 shares of the company's stock, valued at approximately $1,417,833.60. The trade was a 28.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 9.30% of the company's stock.

Ironwood Pharmaceuticals Profile

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company's flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.

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