Park West Asset Management LLC Has $9.73 Million Position in Ironwood Pharmaceuticals, Inc. (IRWD)
Park West Asset Management LLC increased its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 630,593 shares of the biotechnology company’s stock after purchasing an additional 16,635 shares during the period. Park West Asset Management LLC owned approximately 0.42% of Ironwood Pharmaceuticals worth $9,730,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at about $138,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ironwood Pharmaceuticals by 128.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,010 shares of the biotechnology company’s stock valued at $135,000 after acquiring an additional 5,069 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at about $180,000. A.R.T. Advisors LLC acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at about $208,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Ironwood Pharmaceuticals in the fourth quarter valued at about $220,000. 99.47% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. BidaskClub cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Wells Fargo & Co boosted their target price on Ironwood Pharmaceuticals from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, May 31st. ValuEngine raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Mizuho raised Ironwood Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.00 to $24.00 in a research note on Wednesday, May 2nd. Finally, Barclays boosted their target price on Ironwood Pharmaceuticals from $16.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Ironwood Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $18.80.
Shares of Ironwood Pharmaceuticals opened at $18.07 on Thursday, MarketBeat reports. The stock has a market capitalization of $2.70 billion, a PE ratio of -19.43 and a beta of 1.11. Ironwood Pharmaceuticals, Inc. has a one year low of $12.89 and a one year high of $19.94. The company has a debt-to-equity ratio of -21.52, a quick ratio of 4.40 and a current ratio of 4.42.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Tuesday, May 1st. The biotechnology company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). The firm had revenue of $69.16 million during the quarter, compared to the consensus estimate of $78.65 million. Ironwood Pharmaceuticals had a negative net margin of 34.12% and a negative return on equity of 2,073.20%. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.33) earnings per share. analysts predict that Ironwood Pharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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