BNP Paribas Financial Markets Boosts Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

BNP Paribas Financial Markets increased its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 572,947 shares of the biotechnology company's stock after acquiring an additional 148,402 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.37% of Ironwood Pharmaceuticals worth $6,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Signaturefd LLC boosted its holdings in Ironwood Pharmaceuticals by 61.4% during the 4th quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 822 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 331.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 1,900 shares in the last quarter. Headlands Technologies LLC increased its stake in Ironwood Pharmaceuticals by 396.5% during the 3rd quarter. Headlands Technologies LLC now owns 6,737 shares of the biotechnology company's stock worth $65,000 after buying an additional 5,380 shares during the period. Mackenzie Financial Corp lifted its holdings in Ironwood Pharmaceuticals by 21.5% during the 3rd quarter. Mackenzie Financial Corp now owns 12,713 shares of the biotechnology company's stock worth $123,000 after buying an additional 2,253 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Ironwood Pharmaceuticals during the 3rd quarter worth approximately $129,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IRWD. Piper Sandler upped their price objective on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, February 16th. Craig Hallum reduced their price target on Ironwood Pharmaceuticals from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, May 10th. Wells Fargo & Company decreased their price objective on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, March 1st. Finally, StockNews.com lowered shares of Ironwood Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, April 6th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.40.

Insider Activity

In related news, Director Jon R. Duane purchased 6,920 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $8.70 per share, with a total value of $60,204.00. Following the completion of the transaction, the director now directly owns 121,028 shares in the company, valued at $1,052,943.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany bought 10,684 shares of the stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $9.38 per share, for a total transaction of $100,215.92. Following the completion of the transaction, the chief financial officer now owns 301,733 shares in the company, valued at approximately $2,830,255.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jon R. Duane bought 6,920 shares of the firm's stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $8.70 per share, with a total value of $60,204.00. Following the purchase, the director now directly owns 121,028 shares of the company's stock, valued at approximately $1,052,943.60. The disclosure for this purchase can be found here. Company insiders own 13.10% of the company's stock.

Ironwood Pharmaceuticals Stock Performance

NASDAQ IRWD traded down $0.16 during trading on Friday, reaching $6.48. 1,468,431 shares of the company's stock were exchanged, compared to its average volume of 2,862,093. The company has a 50 day moving average price of $8.06 and a two-hundred day moving average price of $10.48. The stock has a market cap of $1.01 billion, a P/E ratio of -0.95 and a beta of 0.57. Ironwood Pharmaceuticals, Inc. has a 1 year low of $6.21 and a 1 year high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.20). The business had revenue of $74.90 million for the quarter, compared to analysts' expectations of $105.75 million. Ironwood Pharmaceuticals had a negative return on equity of 28.45% and a negative net margin of 254.41%. Ironwood Pharmaceuticals's revenue for the quarter was down 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. Research analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.61 EPS for the current fiscal year.

Ironwood Pharmaceuticals 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.