Edgestream Partners L.P. Takes Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Edgestream Partners L.P. bought a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 296,287 shares of the biotechnology company’s stock, valued at approximately $2,581,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. increased its position in shares of Ironwood Pharmaceuticals by 7.5% during the 3rd quarter. American Century Companies Inc. now owns 1,281,269 shares of the biotechnology company’s stock worth $12,339,000 after purchasing an additional 89,441 shares during the last quarter. Vanguard Group Inc. raised its position in Ironwood Pharmaceuticals by 0.3% during the third quarter. Vanguard Group Inc. now owns 14,895,700 shares of the biotechnology company’s stock worth $143,446,000 after acquiring an additional 49,160 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Ironwood Pharmaceuticals in the third quarter valued at $862,000. Raymond James Financial Services Advisors Inc. lifted its stake in Ironwood Pharmaceuticals by 10.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,330 shares of the biotechnology company’s stock valued at $175,000 after acquiring an additional 1,483 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Ironwood Pharmaceuticals by 351.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,061 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 14,064 shares during the period.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD stock traded down $0.09 during midday trading on Tuesday, hitting $6.75. 44,583 shares of the company were exchanged, compared to its average volume of 3,554,018. Ironwood Pharmaceuticals, Inc. has a 52 week low of $5.47 and a 52 week high of $15.70. The firm’s 50 day moving average price is $6.33 and its two-hundred day moving average price is $9.16.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data 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 company had revenue of $74.90 million for the quarter, compared to analyst estimates of $105.75 million. During the same quarter last year, the business earned $0.25 earnings per share. The company’s revenue was down 28.0% on a year-over-year basis. On average, sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Craig Hallum dropped their target price on shares of Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 10th. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $18.40.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 22,766 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $6.29, for a total transaction of $143,198.14. Following the transaction, the director now 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 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 completion of the sale, the director now owns 139,528 shares of the company’s stock, valued at $877,631.12. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $282,549.36. Following the transaction, 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. 12.90% of the stock is currently owned by corporate insiders.

About Ironwood Pharmaceuticals

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.