Inspire Investing LLC Takes $1.79 Million Position in Ironwood Pharmaceuticals, Inc. $IRWD

Inspire Investing LLC purchased a new stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the 1st quarter, Holdings Channel reports. The fund purchased 509,941 shares of the biotechnology company’s stock, valued at approximately $1,790,000.

Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Ironwood Pharmaceuticals by 248.3% during the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock worth $15,321,000 after acquiring an additional 8,337,672 shares during the period. Millennium Management LLC increased its holdings in shares of Ironwood Pharmaceuticals by 186.6% in the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after purchasing an additional 4,140,439 shares during the period. AQR Capital Management LLC increased its holdings in shares of Ironwood Pharmaceuticals by 144.3% in the 2nd quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock valued at $4,422,000 after purchasing an additional 3,641,762 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Ironwood Pharmaceuticals by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,975,939 shares of the biotechnology company’s stock worth $16,769,000 after purchasing an additional 58,603 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Ironwood Pharmaceuticals by 40.7% in the fourth quarter. Marshall Wace LLP now owns 4,424,002 shares of the biotechnology company’s stock worth $14,909,000 after purchasing an additional 1,279,863 shares in the last quarter.

Wall Street Analysts Forecast Growth

IRWD has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, April 27th. Wall Street Zen raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.23.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 21,571 shares of the stock in a transaction 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 transaction, 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 9.30% of the company’s stock.

Ironwood Pharmaceuticals Stock Down 2.1%

NASDAQ IRWD opened at $4.21 on Wednesday. The stock has a market capitalization of $686.48 million, a PE ratio of 7.02 and a beta of 0.25. Ironwood Pharmaceuticals, Inc. has a 12-month low of $0.67 and a 12-month high of $5.78. The company has a 50 day moving average price of $3.83 and a two-hundred day moving average price of $3.90.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $106.51 million for the quarter, compared to analyst estimates of $92.11 million. Ironwood Pharmaceuticals had a negative return on equity of 39.65% and a net margin of 28.26%. As a group, equities analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.04 EPS for the current year.

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.