Entropy Technologies LP Acquires New Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Entropy Technologies LP acquired a new stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the 1st quarter, Holdings Channel reports. The fund acquired 79,541 shares of the biotechnology company’s stock, valued at approximately $693,000.

Several other institutional investors and hedge funds have also modified their holdings of IRWD. Armistice Capital LLC lifted its stake in shares of Ironwood Pharmaceuticals by 64.9% during the fourth quarter. Armistice Capital LLC now owns 5,700,000 shares of the biotechnology company’s stock valued at $65,208,000 after buying an additional 2,244,000 shares during the period. Vanguard Group Inc. raised its stake in Ironwood Pharmaceuticals by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 16,033,545 shares of the biotechnology company’s stock worth $183,424,000 after purchasing an additional 1,137,845 shares during the period. Hodges Capital Management Inc. purchased a new position in Ironwood Pharmaceuticals during the first quarter worth approximately $7,521,000. Norges Bank purchased a new position in Ironwood Pharmaceuticals during the fourth quarter worth approximately $9,321,000. Finally, Eventide Asset Management LLC purchased a new position in Ironwood Pharmaceuticals during the fourth quarter worth approximately $8,472,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IRWD shares. StockNews.com raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday. Craig Hallum cut their price target on shares of Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $18.40.

Ironwood Pharmaceuticals Price Performance

Shares of Ironwood Pharmaceuticals stock remained flat at $6.82 during trading hours on Thursday. 108,051 shares of the stock traded hands, compared to its average volume of 3,603,254. Ironwood Pharmaceuticals, Inc. has a 52 week low of $5.47 and a 52 week high of $15.70. The firm has a fifty day moving average price of $6.33 and a two-hundred day moving average price of $9.29.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released 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 business had revenue of $74.90 million during the quarter, compared to analyst estimates of $105.75 million. During the same period in the previous year, the company earned $0.25 EPS. Ironwood Pharmaceuticals’s revenue was down 28.0% on a year-over-year basis. On average, research analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.56 EPS for the current fiscal year.

Insider Activity at Ironwood Pharmaceuticals

In related news, Director Julie Mchugh sold 22,766 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $6.29, for a total transaction of $143,198.14. Following the completion of the sale, the director now directly owns 139,528 shares of the company’s stock, valued at approximately $877,631.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Catherine Moukheibir sold 44,426 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $6.36, for a total transaction of $282,549.36. Following the completion of the sale, the director now directly owns 84,207 shares of the company’s stock, valued at approximately $535,556.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Julie Mchugh sold 22,766 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $6.29, for a total transaction of $143,198.14. Following the sale, the director now directly owns 139,528 shares of the company’s stock, valued at $877,631.12. The disclosure for this sale can be found here. Company insiders own 12.90% of the company’s stock.

Ironwood Pharmaceuticals Company 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.