Consonance Capital Management Lp Lowers stake in Ironwood Pharmaceuticals (IRWD)

Ironwood Pharmaceuticals (IRWD) : Consonance Capital Management Lp reduced its stake in Ironwood Pharmaceuticals by 0.3% during the most recent quarter end. The investment management company now holds a total of 4,929,139 shares of Ironwood Pharmaceuticals which is valued at $65,853,297 after selling 15,000 shares in Ironwood Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ironwood Pharmaceuticals makes up approximately 7.87% of Consonance Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Ecor1 Capital boosted its stake in IRWD in the latest quarter, The investment management firm added 369,034 additional shares and now holds a total of 2,430,451 shares of Ironwood Pharmaceuticals which is valued at $32,470,825. Ironwood Pharmaceuticals makes up approx 14.01% of Ecor1 Capital’s portfolio.Ubs Asset Management Americas Inc boosted its stake in IRWD in the latest quarter, The investment management firm added 1,843 additional shares and now holds a total of 74,385 shares of Ironwood Pharmaceuticals which is valued at $992,296. Mizuho Securities Usa sold out all of its stake in IRWD during the most recent quarter. The investment firm sold 23,500 shares of IRWD which is valued $335,345.

Ironwood Pharmaceuticals opened for trading at $13.35 and hit $13.48 on the upside on Thursday, eventually ending the session at $13.35, with a gain of 0.07% or 0.01 points. The heightened volatility saw the trading volume jump to 5,33,355 shares. Company has a market cap of $1,940 M.

On the company’s financial health, Ironwood Pharmaceuticals reported $-0.16 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $-0.16. The company had revenue of $54.40 million for the quarter, compared to analysts expectations of $54.49 million. The company’s revenue was up 96.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.34 EPS.

Many Wall Street Analysts have commented on Ironwood Pharmaceuticals. Company shares were Reiterated by Mizuho on Jul 15, 2016 to “Buy”, Firm has raised the Price Target to $ 24 from a previous price target of $16 .

Ironwood Pharmaceuticals Inc. is a pharmaceutical company. The Company has a product linaclotide which is available in the United States and Mexico under the brand name LINZESS and is available in European countries and Canada under the brand name CONSTELLA. Linaclotide is also being developed and commercialized in other parts of the world by certain of its partners. Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders. The Company in collaboration with Astellas Pharma Inc. (Astellas) is developing linaclotide for the treatment of patients with IBS-C.

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