American Century Companies Inc. Increases Stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Posted by Defense World Staff on Jun 8th, 2023

American Century Companies Inc. grew its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Rating) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,242,395 shares of the biotechnology company’s stock after buying an additional 54,954 shares during the period. American Century Companies Inc. owned approximately 0.81% of Ironwood Pharmaceuticals worth $15,393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IRWD. Gladius Capital Management LP purchased a new position in Ironwood Pharmaceuticals in the 4th quarter worth approximately $40,000. Quadrant Capital Group LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 2,065.5% during the third quarter. Quadrant Capital Group LLC now owns 3,768 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 3,594 shares in the last quarter. Ronald Blue Trust Inc. boosted its position in shares of Ironwood Pharmaceuticals by 18,584.6% during the fourth quarter. Ronald Blue Trust Inc. now owns 4,858 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 4,832 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Ironwood Pharmaceuticals in the 1st quarter worth about $78,000. Finally, Captrust Financial Advisors increased its holdings in Ironwood Pharmaceuticals by 563.0% in the 2nd quarter. Captrust Financial Advisors now owns 8,188 shares of the biotechnology company’s stock worth $94,000 after buying an additional 6,953 shares in the last quarter.

Ironwood Pharmaceuticals Stock Up 2.1 %

NASDAQ IRWD opened at $11.51 on Thursday. The company has a 50-day moving average price of $10.68 and a 200-day moving average price of $11.22. Ironwood Pharmaceuticals, Inc. has a 52 week low of $9.73 and a 52 week high of $12.66. The firm has a market capitalization of $1.77 billion, a P/E ratio of 11.40 and a beta of 0.95.

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) last announced its earnings results on Thursday, May 4th. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. Ironwood Pharmaceuticals had a net margin of 43.63% and a return on equity of 29.40%. The company had revenue of $104.06 million during the quarter, compared to analyst estimates of $100.60 million. During the same period in the previous year, the business posted $0.21 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.01 EPS for the current year.

Insider Transactions at Ironwood Pharmaceuticals

In related news, CEO Thomas A. Mccourt sold 46,129 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, March 27th. The stock was sold at an average price of $10.67, for a total transaction of $492,196.43. Following the transaction, the chief executive officer now directly owns 842,064 shares in the company, valued at $8,984,822.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 21,148 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $10.62, for a total transaction of $224,591.76. Following the sale, the chief executive officer now owns 820,916 shares in the company, valued at approximately $8,718,127.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas A. Mccourt sold 46,129 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $10.67, for a total transaction of $492,196.43. Following the completion of the transaction, the chief executive officer now owns 842,064 shares of the company’s stock, valued at $8,984,822.88. The disclosure for this sale can be found here. Insiders sold 93,909 shares of company stock worth $1,001,751 in the last three months. Corporate insiders own 13.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Piper Sandler boosted their target price on shares of Ironwood Pharmaceuticals from $16.00 to $19.00 in a research note on Tuesday, May 23rd.

Ironwood Pharmaceuticals Company Profile

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Ironwood Pharmaceuticals, Inc is a healthcare company, which engages in the development and commercialization of Gastrointestinal (GI) products. It operates through the Human Therapeutics segment. The company was founded on January 5, 1998 and is headquartered in Boston, MA.