The Vanguard Group, Inc. recently announced the acquisition of new stake in Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD). The institutional investor has increased its shareholding in the Healthcare company by 1.73% to 14.37 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 9.32% valued currently at $161.91 million. In addition, LSV Asset Management raised its holdings by 12177.0 to 7.93 million shares. And Credit Suisse Securities has lifted its position by 12.73% or 0.56 million shares – to 4.93 million shares.
With over 1.88 million Ironwood Pharmaceuticals Inc. (IRWD) shares trading Monday and a closing price of $10.48 on the day, the dollar volume was approximately $19.67 million. The shares have shown a negative half year performance of -4.73% and its price on 03/13/23 lost nearly -1.78%. Currently, there are 153.32M common shares owned by the public and among those 150.89M shares have been available to trade.
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Insiders at the company have transacted a total of 47 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 561,307 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 646,477 shares.
The top 3 mutual fund holders in Ironwood Pharmaceuticals Inc. are Vanguard Health Care Fund, iShares Core S&P Small Cap ETF, and SPDR S&P Biotech ETF. Vanguard Health Care Fund owns 10.9 million shares of the company’s stock, all valued at over $122.87 million. iShares Core S&P Small Cap ETF bought 23738.0 shares to see its total holdings expand to 10.19 million shares valued at over $114.79 million and representing 6.61% of the shares outstanding. SPDR S&P Biotech ETF sold 50970.0 shares to bring its total holdings to over 5.73 million shares at a value of $64.55 million. SPDR S&P Biotech ETF now owns shares totaling to 3.72% of the shares outstanding.
Shares of Ironwood Pharmaceuticals Inc. (NASDAQ: IRWD) opened at $10.63, down -$0.04 from a prior closing price of $10.67. However, the script later moved the day high at 10.81, down -1.78%. The company’s stock has a 5-day price change of -4.47% and -11.19% over the past three months. IRWD shares are trading -15.42% year to date (YTD), with the 12-month market performance down to -10.58% lower. It has a 12-month low price of $9.73 and touched a high of $12.95 over the same period. IRWD has an average intraday trading volume of 1.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.70%, -8.62%, and -7.88% respectively.
Institutional ownership of Ironwood Pharmaceuticals Inc. (NASDAQ: IRWD) 153.32M shares outstanding. Mutual fund holders own 51.04%, while other institutional holders and individual stakeholders account for 59.85% and 22.14% respectively.
It has a market capitalization of $1.62B and a beta (3y monthly) value of 0.97. The stock’s trailing 12-month PE ratio is 10.86, while the earnings-per-share (ttm) stands at $0.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.47% over the week and 2.73% over the month.
Analysts forecast that Ironwood Pharmaceuticals Inc. (IRWD) will achieve an EPS of $0.29 for the current quarter, $0.24 for the next quarter and $1.04 for 2023. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $0.31. Comparatively, EPS for the current quarter was $0.27 a year ago. Earnings per share for the fiscal year are expected to decrease by -70.00%, and -1.34% over the next financial year.
Looking at the support for the IRWD, a number of firms have released research notes about the stock. CapitalOne stated their Overweight rating for the stock in a research note on September 02, 2022, with the firm’s price target at $15. Piper Sandler coverage for the Ironwood Pharmaceuticals Inc. (IRWD) stock in a research note released on April 22, 2022 offered a Overweight rating with a price target of $16. Wells Fargo was of a view on September 30, 2020 that the stock is Equal Weight, while Northland Capital gave the stock Outperform rating on June 17, 2020, issuing a price target of $14. Credit Suisse on their part issued Neutral rating on July 10, 2019.
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