PNC Financial Services Group Inc. Sells 4,629 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

PNC Financial Services Group Inc. lessened its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 14.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,939 shares of the biotechnology company’s stock after selling 4,629 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ironwood Pharmaceuticals were worth $361,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. American Century Companies Inc. increased its stake in Ironwood Pharmaceuticals by 117.4% during the 2nd quarter. American Century Companies Inc. now owns 193,249 shares of the biotechnology company’s stock valued at $2,487,000 after purchasing an additional 104,367 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Ironwood Pharmaceuticals in the 2nd quarter worth $196,000. Euclidean Technologies Management LLC bought a new stake in shares of Ironwood Pharmaceuticals in the 2nd quarter worth $238,000. Teacher Retirement System of Texas grew its stake in shares of Ironwood Pharmaceuticals by 17.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 19,959 shares of the biotechnology company’s stock worth $257,000 after acquiring an additional 2,979 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of Ironwood Pharmaceuticals in the 2nd quarter worth $1,342,000.

Shares of NASDAQ:IRWD opened at $12.35 on Friday. The company’s 50-day moving average is $12.95 and its 200 day moving average is $11.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 4.62 and a current ratio of 4.62. The company has a market capitalization of $2.01 billion, a P/E ratio of 3.96 and a beta of 1.37. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $8.63 and a fifty-two week high of $14.27.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, August 5th. The biotechnology company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.11. The company had revenue of $104.00 million for the quarter, compared to the consensus estimate of $92.47 million. Ironwood Pharmaceuticals had a net margin of 123.20% and a return on equity of 109.74%. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. As a group, research analysts predict that Ironwood Pharmaceuticals, Inc. will post 1.18 earnings per share for the current year.

Several analysts have recently issued reports on IRWD shares. Northland Securities reiterated a “buy” rating and issued a $15.00 target price on shares of Ironwood Pharmaceuticals in a research note on Tuesday, July 6th. Morgan Stanley upped their target price on shares of Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, July 16th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.80.

About Ironwood Pharmaceuticals

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.

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

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