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

Connor Clark & Lunn Investment Management Ltd. boosted its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 170.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,455 shares of the biotechnology company’s stock after acquiring an additional 215,166 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.21% of Ironwood Pharmaceuticals worth $1,513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. KBC Group NV increased its position in shares of Ironwood Pharmaceuticals by 59.3% during the 3rd 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 during the last quarter. Journey Strategic Wealth LLC bought a new position in Ironwood Pharmaceuticals during the fourth quarter valued at approximately $45,000. Wolverine Trading LLC purchased a new position in shares of Ironwood Pharmaceuticals during the third quarter worth approximately $51,000. SG Americas Securities LLC bought a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter worth approximately $53,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter worth approximately $53,000.

Ironwood Pharmaceuticals Trading Up 2.8 %

Ironwood Pharmaceuticals stock opened at $1.49 on Thursday. 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, Inc. has a 1-year low of $1.34 and a 1-year high of $9.23. The firm has a 50-day moving average of $2.38 and a 200-day moving average of $3.54.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IRWD shares. Craig Hallum decreased their target price 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. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Finally, JMP Securities dropped their target price 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.60.

Insider Activity at Ironwood Pharmaceuticals

In other news, CEO Thomas A. Mccourt sold 139,064 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $244,752.64. Following the completion of the sale, the chief executive officer now directly owns 1,160,634 shares of the company’s stock, valued at approximately $2,042,715.84. This trade represents a 10.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of the company’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 transaction, the chief marketing officer now owns 554,007 shares in the company, valued at $975,052.32. This trade represents a 6.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 192,381 shares of company stock worth $338,591 over the last quarter. Corporate 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.