E Fund Management Co. Ltd. Sells 8,739 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

E Fund Management Co. Ltd. decreased its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 34.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,746 shares of the biotechnology company’s stock after selling 8,739 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Ironwood Pharmaceuticals were worth $74,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in Ironwood Pharmaceuticals by 26.6% in the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company’s stock valued at $46,473,000 after buying an additional 2,372,183 shares in the last quarter. Stonepine Capital Management LLC raised its position in Ironwood Pharmaceuticals by 1,982.8% during the 3rd quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $4,120,000 after purchasing an additional 951,988 shares during the last quarter. State Street Corp lifted its stake in shares of Ironwood Pharmaceuticals by 7.3% in the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company’s stock worth $40,870,000 after acquiring an additional 677,024 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Ironwood Pharmaceuticals by 23.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,904,271 shares of the biotechnology company’s stock worth $7,846,000 after purchasing an additional 364,841 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Ironwood Pharmaceuticals by 1,293.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 380,960 shares of the biotechnology company’s stock valued at $1,570,000 after acquiring an additional 353,624 shares during the last quarter.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD opened at $1.50 on Monday. Ironwood Pharmaceuticals, Inc. has a 1 year low of $1.43 and a 1 year high of $9.30. The stock’s fifty day moving average price is $2.85 and its two-hundred day moving average price is $3.72. The firm has a market cap of $240.04 million, a PE ratio of -50.00 and a beta of 0.37.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $90.55 million for the quarter, compared to the consensus estimate of $93.85 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. Sell-side analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Thomas A. Mccourt sold 139,064 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $244,752.64. Following the transaction, the chief executive officer now directly owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. This represents a 10.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Michael Shetzline sold 41,269 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $72,633.44. Following the transaction, the chief marketing officer now owns 554,007 shares in the company, valued at $975,052.32. The trade was a 6.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,381 shares of company stock worth $338,591. 12.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JMP Securities reduced their price objective on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a research report on Thursday, January 30th. Craig Hallum dropped their target price on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, StockNews.com cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.60.

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.