Los Angeles Capital Management LLC Buys 57,806 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Los Angeles Capital Management LLC lifted its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 209.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,343 shares of the biotechnology company’s stock after purchasing an additional 57,806 shares during the period. Los Angeles Capital Management LLC owned 0.05% of Ironwood Pharmaceuticals worth $743,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. HighTower Advisors LLC lifted its position in shares of Ironwood Pharmaceuticals by 48.6% during the 3rd quarter. HighTower Advisors LLC now owns 50,490 shares of the biotechnology company’s stock valued at $489,000 after buying an additional 16,517 shares during the last quarter. Rhumbline Advisers lifted its holdings in Ironwood Pharmaceuticals by 0.9% during the third quarter. Rhumbline Advisers now owns 458,236 shares of the biotechnology company’s stock valued at $4,413,000 after purchasing an additional 3,935 shares during the last quarter. Aigen Investment Management LP bought a new position in Ironwood Pharmaceuticals during the third quarter worth about $129,000. Hsbc Holdings PLC increased its stake in shares of Ironwood Pharmaceuticals by 4.2% in the third quarter. Hsbc Holdings PLC now owns 256,801 shares of the biotechnology company’s stock worth $2,471,000 after purchasing an additional 10,294 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at approximately $233,000.

Analyst Ratings Changes

A number of research analysts recently weighed in on IRWD shares. Craig Hallum reduced their price objective on shares of Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Wells Fargo & Company dropped their price objective on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Finally, StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ironwood Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $18.40.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 22,766 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $6.29, for a total value of $143,198.14. Following the transaction, the director now directly owns 139,528 shares of the company’s stock, valued at approximately $877,631.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 22,766 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $6.29, for a total value of $143,198.14. Following the transaction, the director now owns 139,528 shares in the company, valued at $877,631.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Catherine Moukheibir sold 44,426 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $6.36, for a total value of $282,549.36. Following the completion of the sale, the director now directly owns 84,207 shares in the company, valued at $535,556.52. The disclosure for this sale can be found here. Company insiders own 12.90% of the company’s stock.

Ironwood Pharmaceuticals Trading Up 3.8 %

Shares of NASDAQ IRWD opened at $6.32 on Tuesday. The stock’s 50-day moving average is $6.87 and its 200 day moving average is $9.83. The stock has a market cap of $989.27 million, a price-to-earnings ratio of -0.93 and a beta of 0.51. Ironwood Pharmaceuticals, Inc. has a 1-year low of $5.47 and a 1-year high of $15.70.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.20). Ironwood Pharmaceuticals had a negative return on equity of 28.45% and a negative net margin of 254.41%. The business had revenue of $74.90 million for the quarter, compared to analysts’ expectations of $105.75 million. During the same period last year, the business posted $0.25 earnings per share. The company’s revenue was down 28.0% compared to the same quarter last year. On average, analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.56 EPS for the current fiscal year.

Ironwood Pharmaceuticals Profile

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.