Engineers Gate Manager LP Has $389,000 Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Engineers Gate Manager LP lifted its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Rating) by 57.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 37,587 shares of the biotechnology company’s stock after purchasing an additional 13,667 shares during the quarter. Engineers Gate Manager LP’s holdings in Ironwood Pharmaceuticals were worth $389,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IRWD. Raymond James & Associates increased its holdings in shares of Ironwood Pharmaceuticals by 11.1% during the first quarter. Raymond James & Associates now owns 24,117 shares of the biotechnology company’s stock worth $303,000 after buying an additional 2,418 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in Ironwood Pharmaceuticals by 8.8% in the first quarter. Cetera Advisor Networks LLC now owns 11,021 shares of the biotechnology company’s stock valued at $139,000 after purchasing an additional 893 shares during the period. PNC Financial Services Group Inc. increased its holdings in Ironwood Pharmaceuticals by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 41,253 shares of the biotechnology company’s stock valued at $518,000 after purchasing an additional 2,402 shares during the period. MetLife Investment Management LLC increased its holdings in Ironwood Pharmaceuticals by 55.5% in the first quarter. MetLife Investment Management LLC now owns 79,249 shares of the biotechnology company’s stock valued at $997,000 after purchasing an additional 28,288 shares during the period. Finally, Rhumbline Advisers increased its holdings in Ironwood Pharmaceuticals by 4.0% in the first quarter. Rhumbline Advisers now owns 164,608 shares of the biotechnology company’s stock valued at $2,071,000 after purchasing an additional 6,277 shares during the period.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 17th.

Ironwood Pharmaceuticals Stock Down 1.8 %

NASDAQ IRWD opened at $10.48 on Tuesday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 10.80 and a beta of 0.94. The stock has a fifty day simple moving average of $11.41 and a 200 day simple moving average of $11.27. Ironwood Pharmaceuticals, Inc. has a twelve month low of $9.73 and a twelve month high of $12.95.

Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The biotechnology company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $107.20 million for the quarter, compared to the consensus estimate of $108.23 million. Ironwood Pharmaceuticals had a net margin of 42.64% and a return on equity of 30.49%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. Research analysts expect that Ironwood Pharmaceuticals, Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, COO Jason Rickard sold 16,746 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $11.41, for a total transaction of $191,071.86. Following the sale, the chief operating officer now owns 350,077 shares of the company’s stock, valued at $3,994,378.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Thomas A. Mccourt sold 110,962 shares of the stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $12.07, for a total transaction of $1,339,311.34. Following the transaction, the chief executive officer now owns 712,440 shares of the company’s stock, valued at approximately $8,599,150.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jason Rickard sold 16,746 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $11.41, for a total transaction of $191,071.86. Following the transaction, the chief operating officer now directly owns 350,077 shares in the company, valued at approximately $3,994,378.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,616 shares of company stock valued at $2,412,900. 13.10% of the stock is currently owned by insiders.

Ironwood Pharmaceuticals Company Profile

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Ironwood Pharmaceuticals, Inc is a healthcare company, which focuses on the development and commercialization of Gastrointestinal (GI) product opportunities in areas of significant unmet need, leveraging demonstrated expertise and capabilities in GI diseases. Its products include linaclotide, a guanylate cyclase type-C agonists which treats patients irritable bowel syndrome with constipation and chronic constipation.