State Board of Administration of Florida Retirement System Raises Stock Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Posted by on Sep 20th, 2023

State Board of Administration of Florida Retirement System increased its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,057 shares of the biotechnology company’s stock after acquiring an additional 4,804 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of Ironwood Pharmaceuticals worth $2,052,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Ironwood Pharmaceuticals by 1.2% during the 1st quarter. BlackRock Inc. now owns 14,536,759 shares of the biotechnology company’s stock valued at $182,873,000 after purchasing an additional 167,869 shares during the last quarter. State Street Corp grew its stake in Ironwood Pharmaceuticals by 5.2% during the 3rd quarter. State Street Corp now owns 11,454,170 shares of the biotechnology company’s stock worth $118,665,000 after buying an additional 567,365 shares during the last quarter. Renaissance Technologies LLC increased its position in Ironwood Pharmaceuticals by 6.0% during the 1st quarter. Renaissance Technologies LLC now owns 4,637,753 shares of the biotechnology company’s stock valued at $48,789,000 after buying an additional 263,600 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Ironwood Pharmaceuticals by 25.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,609,079 shares of the biotechnology company’s stock valued at $48,487,000 after buying an additional 946,481 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Ironwood Pharmaceuticals by 121.0% in the fourth quarter. Millennium Management LLC now owns 3,989,942 shares of the biotechnology company’s stock worth $49,435,000 after acquiring an additional 2,184,767 shares in the last quarter.

Ironwood Pharmaceuticals Stock Up 7.5 %

Shares of NASDAQ:IRWD opened at $9.26 on Wednesday. The business has a 50-day moving average price of $9.79 and a 200-day moving average price of $10.37. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -1.53 and a beta of 0.96. Ironwood Pharmaceuticals, Inc. has a 52-week low of $8.07 and a 52-week high of $12.66.

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.06. The company had revenue of $107.38 million during the quarter, compared to analyst estimates of $103.46 million. Ironwood Pharmaceuticals had a negative net margin of 214.68% and a positive return on equity of 55.17%. As a group, equities analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.28 EPS for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In related news, CFO Sravan Kumar Emany purchased 36,072 shares of the business’s stock in a transaction on Friday, September 15th. The shares were bought at an average cost of $8.32 per share, with a total value of $300,119.04. Following the transaction, the chief financial officer now owns 188,730 shares of the company’s stock, valued at $1,570,233.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TheStreet lowered Ironwood Pharmaceuticals from a “b-” rating to a “d-” rating in a research note on Tuesday, August 8th. Piper Sandler raised their price target on shares of Ironwood Pharmaceuticals from $16.00 to $19.00 in a report on Tuesday, May 23rd. Finally, StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th.

Get Our Latest Stock Report on IRWD

Ironwood Pharmaceuticals Company Profile

(Free Report)

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, and China, as well as under the CONSTELLA name in the Canada and European countries.

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Institutional Ownership by Quarter for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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