CANADA LIFE ASSURANCE Co Sells 19,003 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

CANADA LIFE ASSURANCE Co lessened its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 12.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 129,507 shares of the biotechnology company’s stock after selling 19,003 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Ironwood Pharmaceuticals were worth $573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 4.0% during the fourth quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company’s stock valued at $51,967,000 after purchasing an additional 450,949 shares during the period. Renaissance Technologies LLC boosted its position in Ironwood Pharmaceuticals by 5.5% in the 4th quarter. Renaissance Technologies LLC now owns 9,066,241 shares of the biotechnology company’s stock valued at $40,163,000 after buying an additional 469,043 shares during the period. Geode Capital Management LLC grew its stake in Ironwood Pharmaceuticals by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,306,570 shares of the biotechnology company’s stock worth $14,652,000 after acquiring an additional 13,028 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Ironwood Pharmaceuticals by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,983,240 shares of the biotechnology company’s stock worth $8,786,000 after acquiring an additional 78,969 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Ironwood Pharmaceuticals by 7.2% during the fourth quarter. Bank of New York Mellon Corp now owns 978,135 shares of the biotechnology company’s stock worth $4,333,000 after acquiring an additional 65,357 shares during the period.

Ironwood Pharmaceuticals Stock Down 3.1 %

Shares of Ironwood Pharmaceuticals stock opened at $0.94 on Wednesday. Ironwood Pharmaceuticals, Inc. has a 52-week low of $0.59 and a 52-week high of $8.45. The firm’s 50 day moving average price is $1.28 and its 200-day moving average price is $2.85. The company has a market cap of $152.13 million, a P/E ratio of -31.34 and a beta of 0.30.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Ironwood Pharmaceuticals had a negative return on equity of 0.96% and a negative net margin of 0.65%. The firm had revenue of $90.55 million during the quarter, compared to analysts’ expectations of $93.85 million. As a group, equities research analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on IRWD shares. JMP Securities dropped their price objective on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 30th. Leerink Partners cut their price target on Ironwood Pharmaceuticals from $3.00 to $1.00 and set a “market perform” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $1.00 target price (down from $7.00) on shares of Ironwood Pharmaceuticals in a report on Tuesday, April 15th. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Citizens Jmp cut shares of Ironwood Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, April 14th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.78.

Insiders Place Their Bets

In other news, CEO Thomas A. Mccourt sold 139,064 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $244,752.64. Following the completion of the sale, the chief executive officer now directly owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. The trade was a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $72,633.44. Following the completion of the transaction, the chief marketing officer now directly owns 554,007 shares in the company, valued at approximately $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 90 days, insiders sold 192,381 shares of company stock valued at $338,591. 12.90% of the stock is currently owned by corporate insiders.

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.