Connor Clark & Lunn Investment Management Ltd. Purchases 215,166 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 170.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 341,455 shares of the biotechnology company’s stock after purchasing an additional 215,166 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ironwood Pharmaceuticals were worth $1,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. KBC Group NV raised its holdings in Ironwood Pharmaceuticals by 59.3% in the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 3,198 shares during the period. Journey Strategic Wealth LLC bought a new stake in Ironwood Pharmaceuticals during the fourth quarter valued at about $45,000. SG Americas Securities LLC bought a new position in shares of Ironwood Pharmaceuticals in the fourth quarter worth about $53,000. CIBC Asset Management Inc purchased a new position in shares of Ironwood Pharmaceuticals during the 4th quarter valued at about $53,000. Finally, Wolverine Trading LLC bought a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter valued at approximately $51,000.

Ironwood Pharmaceuticals Trading Up 2.8 %

Shares of Ironwood Pharmaceuticals stock opened at $1.49 on Thursday. The firm has a market cap of $238.44 million, a PE ratio of -49.67 and a beta of 0.37. The stock has a 50 day moving average of $2.38 and a 200 day moving average of $3.54. Ironwood Pharmaceuticals, Inc. has a 12 month low of $1.34 and a 12 month high of $9.23.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business had revenue of $90.55 million during the quarter, compared to analysts’ expectations of $93.85 million. As a group, equities research analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Thomas A. Mccourt sold 139,064 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $244,752.64. Following the completion of the transaction, the chief executive officer now owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. This trade represents a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Michael Shetzline sold 41,269 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $72,633.44. Following the sale, the chief marketing officer now directly owns 554,007 shares in the company, valued at $975,052.32. The trade was a 6.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 192,381 shares of company stock valued at $338,591 in the last three months. Corporate insiders own 12.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Craig Hallum decreased their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, JMP Securities dropped their target price on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.60.

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.