Stonepine Capital Management LLC Has $4.12 Million Stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Stonepine Capital Management LLC raised its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 1,982.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,000,000 shares of the biotechnology company’s stock after acquiring an additional 951,988 shares during the period. Ironwood Pharmaceuticals comprises about 2.6% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Stonepine Capital Management LLC’s holdings in Ironwood Pharmaceuticals were worth $4,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CWM LLC grew its stake in Ironwood Pharmaceuticals by 55.1% in the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 2,345 shares during the period. Louisiana State Employees Retirement System grew its stake in Ironwood Pharmaceuticals by 3.5% in the second quarter. Louisiana State Employees Retirement System now owns 70,400 shares of the biotechnology company’s stock valued at $459,000 after acquiring an additional 2,400 shares during the period. SummerHaven Investment Management LLC grew its stake in Ironwood Pharmaceuticals by 3.6% in the second quarter. SummerHaven Investment Management LLC now owns 72,030 shares of the biotechnology company’s stock valued at $470,000 after acquiring an additional 2,491 shares during the period. Rhumbline Advisers grew its stake in Ironwood Pharmaceuticals by 0.7% in the second quarter. Rhumbline Advisers now owns 365,701 shares of the biotechnology company’s stock valued at $2,384,000 after acquiring an additional 2,577 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Ironwood Pharmaceuticals by 59.3% in the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 3,198 shares in the last quarter.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, CFO Sravan Kumar Emany sold 11,001 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.08, for a total transaction of $44,884.08. Following the transaction, the chief financial officer now owns 309,572 shares of the company’s stock, valued at $1,263,053.76. The trade was a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.90% of the company’s stock.

Ironwood Pharmaceuticals Stock Performance

IRWD traded up $0.17 on Wednesday, hitting $3.52. 2,563,171 shares of the company were exchanged, compared to its average volume of 1,689,625. The stock’s fifty day moving average is $4.16 and its 200-day moving average is $5.24. The company has a market cap of $563.31 million, a PE ratio of -117.33 and a beta of 0.47. Ironwood Pharmaceuticals, Inc. has a 12 month low of $3.26 and a 12 month high of $15.70.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IRWD shares. Leerink Partners started coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target on the stock. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $12.00 to $4.00 in a report on Thursday, August 8th. Finally, 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

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.