Globeflex Capital L P Makes New $1.09 Million Investment in Ironwood Pharmaceuticals, Inc. $IRWD

Globeflex Capital L P purchased a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 259,809 shares of the biotechnology company’s stock, valued at approximately $1,094,000.

A number of other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new position in Ironwood Pharmaceuticals in the 2nd quarter worth approximately $2,142,000. Pacer Advisors Inc. bought a new stake in Ironwood Pharmaceuticals during the 1st quarter valued at $3,982,000. Segall Bryant & Hamill LLC acquired a new position in Ironwood Pharmaceuticals during the 1st quarter worth $976,000. Bull Harbor Capital LLC bought a new position in shares of Ironwood Pharmaceuticals in the first quarter worth $48,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Ironwood Pharmaceuticals by 48.7% in the first quarter. EverSource Wealth Advisors LLC now owns 20,336 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 6,656 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IRWD shares. Weiss Ratings raised shares of Ironwood Pharmaceuticals from a “hold (c-)” rating to a “hold (c+)” rating in a report on Friday. Zacks Research cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.23.

Ironwood Pharmaceuticals Stock Down 3.7%

NASDAQ:IRWD opened at $4.13 on Tuesday. The business’s 50-day moving average price is $4.09 and its 200 day moving average price is $3.90. Ironwood Pharmaceuticals, Inc. has a 52-week low of $1.01 and a 52-week high of $5.78. The firm has a market cap of $682.44 million, a P/E ratio of 5.36 and a beta of 0.20.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Ironwood Pharmaceuticals had a net margin of 33.36% and a negative return on equity of 58.38%. The business had revenue of $113.04 million during the quarter, compared to analyst estimates of $114.84 million. Sell-side analysts expect that Ironwood Pharmaceuticals, Inc. will post 1.04 EPS for the current year.

Insider Buying and Selling

In related news, Director Julie Mchugh sold 21,571 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.73, for a total transaction of $80,459.83. Following the completion of the sale, the director directly owned 250,749 shares of the company’s stock, valued at $935,293.77. This represents a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ronald Silver sold 127,890 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $4.52, for a total transaction of $578,062.80. Following the sale, the insider owned 313,680 shares of the company’s stock, valued at $1,417,833.60. The trade was a 28.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.30% of the stock is owned by insiders.

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.