Catalyst Funds Management Pty Ltd Acquires New Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Catalyst Funds Management Pty Ltd bought a new position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,500 shares of the biotechnology company’s stock, valued at approximately $47,000.

A number of other hedge funds have also recently bought and sold shares of IRWD. KBC Group NV grew its holdings in Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 3,198 shares during the period. Journey Strategic Wealth LLC acquired a new position in Ironwood Pharmaceuticals during the fourth quarter worth about $45,000. Wolverine Trading LLC acquired a new position in Ironwood Pharmaceuticals during the third quarter worth about $51,000. SG Americas Securities LLC acquired a new position in Ironwood Pharmaceuticals during the fourth quarter worth about $53,000. Finally, CIBC Asset Management Inc purchased a new position in Ironwood Pharmaceuticals in the 4th quarter worth about $53,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IRWD. Craig Hallum dropped their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday. Finally, JMP Securities reduced their price target on 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Ironwood Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $8.60.

Ironwood Pharmaceuticals Stock Performance

IRWD opened at $1.49 on Monday. The business has a 50 day moving average price of $2.56 and a 200 day moving average price of $3.60. Ironwood Pharmaceuticals, Inc. has a twelve month low of $1.34 and a twelve month high of $9.23. The firm has a market cap of $238.44 million, a P/E ratio of -49.67 and a beta of 0.37.

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

Insiders Place Their Bets

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

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.