Allspring Global Investments Holdings LLC Buys 30,745 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWDFree Report) by 63.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,361 shares of the biotechnology company’s stock after purchasing an additional 30,745 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of Ironwood Pharmaceuticals worth $691,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Old West Investment Management LLC raised its stake in shares of Ironwood Pharmaceuticals by 1.4% in the fourth quarter. Old West Investment Management LLC now owns 56,921 shares of the biotechnology company’s stock valued at $651,000 after acquiring an additional 761 shares during the period. Signaturefd LLC increased its stake in Ironwood Pharmaceuticals by 61.4% in the 4th quarter. Signaturefd LLC now owns 2,160 shares of the biotechnology company’s stock worth $25,000 after buying an additional 822 shares during the period. SummerHaven Investment Management LLC increased its stake in Ironwood Pharmaceuticals by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 68,745 shares of the biotechnology company’s stock worth $786,000 after buying an additional 980 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Ironwood Pharmaceuticals by 10.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,330 shares of the biotechnology company’s stock worth $175,000 after buying an additional 1,483 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Ironwood Pharmaceuticals by 331.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,473 shares of the biotechnology company’s stock worth $29,000 after buying an additional 1,900 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on IRWD. Craig Hallum reduced their price target on shares of Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Ironwood Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.40.

Get Our Latest Research Report on Ironwood Pharmaceuticals

Ironwood Pharmaceuticals Price Performance

Shares of Ironwood Pharmaceuticals stock opened at $6.57 on Tuesday. Ironwood Pharmaceuticals, Inc. has a 1 year low of $5.47 and a 1 year high of $15.70. The firm’s 50-day moving average is $6.57 and its two-hundred day moving average is $9.54. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -0.97 and a beta of 0.52.

Ironwood Pharmaceuticals (NASDAQ:IRWDGet Free Report) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share (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 the consensus estimate of $105.75 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm’s revenue was down 28.0% on a year-over-year basis. On average, equities analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.56 earnings per share for the current year.

Insider Activity

In other news, Director Julie Mchugh sold 22,766 shares of the firm’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 sale, the director now directly owns 139,528 shares in the company, valued at approximately $877,631.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Julie Mchugh sold 22,766 shares of the firm’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 sale, the director now directly owns 139,528 shares in the company, valued at approximately $877,631.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Catherine Moukheibir sold 44,426 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $6.36, for a total transaction of $282,549.36. Following the completion of the sale, the director now 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.

About Ironwood Pharmaceuticals

(Free Report)

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.

See Also

Want to see what other hedge funds are holding IRWD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWDFree Report).

Institutional Ownership by Quarter for Ironwood Pharmaceuticals (NASDAQ:IRWD)

Receive News & Ratings for Ironwood Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.