Stonepine Capital Management LLC Takes $313,000 Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Stonepine Capital Management LLC bought a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 48,012 shares of the biotechnology company’s stock, valued at approximately $313,000. Ironwood Pharmaceuticals comprises approximately 0.3% of Stonepine Capital Management LLC’s holdings, making the stock its 24th biggest holding.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Ironwood Pharmaceuticals by 152.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 2,645 shares in the last quarter. CWM LLC lifted its stake in Ironwood Pharmaceuticals by 55.1% during the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 2,345 shares in the last quarter. SG Americas Securities LLC purchased a new position in Ironwood Pharmaceuticals during the 1st quarter valued at about $91,000. GAMMA Investing LLC grew its position in Ironwood Pharmaceuticals by 344.1% in the 2nd quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 8,156 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its position in shares of Ironwood Pharmaceuticals by 517.4% during the first quarter. EntryPoint Capital LLC now owns 10,589 shares of the biotechnology company’s stock worth $92,000 after purchasing an additional 8,874 shares in the last quarter.

Insider Activity at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 9,910 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $4.27, for a total value of $42,315.70. Following the completion of the sale, the insider now directly owns 284,661 shares of the company’s stock, valued at $1,215,502.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 12.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $12.00 to $4.00 in a report on Thursday, August 8th. Wells Fargo & Company cut their price target on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Craig Hallum decreased their price objective on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

Ironwood Pharmaceuticals Stock Up 2.5 %

Shares of IRWD opened at $4.12 on Tuesday. The company has a market capitalization of $644.90 million, a price-to-earnings ratio of -0.61 and a beta of 0.49. Ironwood Pharmaceuticals, Inc. has a 52-week low of $3.79 and a 52-week high of $15.70. The stock has a 50 day moving average price of $5.07 and a 200 day moving average price of $6.43.

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.