259,809 Shares in Ironwood Pharmaceuticals, Inc. $IRWD Bought by Globeflex Capital L P

Globeflex Capital L P bought a new position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 259,809 shares of the biotechnology company’s stock, valued at approximately $912,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Ironwood Pharmaceuticals by 529.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,082,055 shares of the biotechnology company’s stock worth $7,307,000 after acquiring an additional 1,751,219 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Ironwood Pharmaceuticals in the 1st quarter valued at about $278,000. Hillsdale Investment Management Inc. boosted its stake in Ironwood Pharmaceuticals by 6.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,236,628 shares of the biotechnology company’s stock valued at $4,341,000 after purchasing an additional 80,250 shares during the period. Principal Financial Group Inc. acquired a new position in Ironwood Pharmaceuticals during the 1st quarter valued at about $40,000. Finally, Chicago Partners Investment Group LLC bought a new position in Ironwood Pharmaceuticals in the 1st quarter worth about $65,000.

Insiders Place Their Bets

In other news, Director Julie Mchugh sold 21,571 shares of Ironwood Pharmaceuticals stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.73, for a total transaction of $80,459.83. Following the transaction, the director directly owned 250,749 shares in the company, valued at approximately $935,293.77. This trade represents a 7.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ronald Silver sold 127,890 shares of Ironwood Pharmaceuticals stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $4.52, for a total value of $578,062.80. Following the transaction, the insider owned 313,680 shares in the company, valued at approximately $1,417,833.60. This trade represents a 28.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.30% of the company’s stock.

Ironwood Pharmaceuticals Trading Down 0.8%

IRWD stock opened at $3.88 on Thursday. The firm’s 50-day moving average is $3.84 and its two-hundred day moving average is $3.99. The company has a market capitalization of $632.67 million, a price-to-earnings ratio of 6.47 and a beta of 0.20. Ironwood Pharmaceuticals, Inc. has a 52 week low of $0.71 and a 52 week high of $5.78.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Ironwood Pharmaceuticals had a net margin of 28.26% and a negative return on equity of 39.65%. The company had revenue of $106.51 million during the quarter, compared to the consensus estimate of $92.11 million. On average, equities research analysts predict that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current year.

Analysts Set New Price Targets

IRWD has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a report on Monday, April 27th. Wall Street Zen raised Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Sunday, May 17th. Finally, Zacks Research upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $6.23.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a commercial‐stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.