Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Acquired by KBC Group NV

KBC Group NV raised its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 59.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,593 shares of the biotechnology company’s stock after buying an additional 3,198 shares during the period. KBC Group NV’s holdings in Ironwood Pharmaceuticals were worth $35,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. CWM LLC grew its holdings in shares of Ironwood Pharmaceuticals by 55.1% during the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 2,345 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Ironwood Pharmaceuticals during the third quarter worth $52,000. Legacy Capital Group California Inc. acquired a new stake in Ironwood Pharmaceuticals during the third quarter valued at $59,000. GAMMA Investing LLC grew its stake in Ironwood Pharmaceuticals by 344.1% in the second quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 8,156 shares in the last quarter. Finally, First Dallas Securities Inc. acquired a new position in Ironwood Pharmaceuticals in the 2nd quarter worth about $73,000.

Ironwood Pharmaceuticals Trading Up 3.0 %

NASDAQ IRWD opened at $3.44 on Friday. Ironwood Pharmaceuticals, Inc. has a 1 year low of $3.26 and a 1 year high of $15.70. The company has a fifty day simple moving average of $4.21 and a 200 day simple moving average of $5.33. The company has a market cap of $550.50 million, a P/E ratio of -114.67 and a beta of 0.47.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The firm had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The firm’s revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. Equities research analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the sale, the chief financial officer now directly owns 309,572 shares in the company, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on IRWD shares. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Leerink Partners initiated coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They set a “market perform” rating and a $5.00 price target on the stock. Craig Hallum cut their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Capital One Financial cut shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $12.00 to $4.00 in a report on Thursday, August 8th. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Ironwood Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $10.40.

Ironwood Pharmaceuticals Company 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.