Hillsdale Investment Management Inc. Purchases Shares of 1,156,378 Ironwood Pharmaceuticals, Inc. $IRWD

Hillsdale Investment Management Inc. purchased a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the 4th quarter, Holdings Channel reports. The firm purchased 1,156,378 shares of the biotechnology company’s stock, valued at approximately $3,897,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in Ironwood Pharmaceuticals by 248.3% in the 3rd quarter. Bank of America Corp DE now owns 11,695,544 shares of the biotechnology company’s stock valued at $15,321,000 after buying an additional 8,337,672 shares during the last quarter. Millennium Management LLC increased its stake in Ironwood Pharmaceuticals by 186.6% in the 1st quarter. Millennium Management LLC now owns 6,359,682 shares of the biotechnology company’s stock valued at $9,349,000 after buying an additional 4,140,439 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Ironwood Pharmaceuticals by 144.3% in the 2nd quarter. AQR Capital Management LLC now owns 6,165,637 shares of the biotechnology company’s stock valued at $4,422,000 after acquiring an additional 3,641,762 shares during the period. Marshall Wace LLP grew its position in shares of Ironwood Pharmaceuticals by 616.3% in the 2nd quarter. Marshall Wace LLP now owns 3,993,557 shares of the biotechnology company’s stock valued at $2,875,000 after acquiring an additional 3,436,036 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Ironwood Pharmaceuticals by 740.5% in the 1st quarter. Jane Street Group LLC now owns 3,510,117 shares of the biotechnology company’s stock valued at $5,160,000 after acquiring an additional 3,092,475 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IRWD. Jefferies Financial Group reissued a “hold” rating and issued a $3.70 price objective on shares of Ironwood Pharmaceuticals in a research report on Thursday, February 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, April 27th. Wall Street Zen raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Zacks Research downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Citizens Jmp lifted their price objective on shares of Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the company a “market outperform” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ironwood Pharmaceuticals has an average rating of “Hold” and a consensus price target of $6.23.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD opened at $3.57 on Monday. The firm has a 50-day moving average of $3.80 and a 200-day moving average of $3.86. Ironwood Pharmaceuticals, Inc. has a one year low of $0.56 and a one year high of $5.78. The company has a market cap of $582.12 million, a PE ratio of 5.95 and a beta of 0.25.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The company had revenue of $106.51 million for the quarter, compared to the consensus estimate of $92.11 million. Ironwood Pharmaceuticals had a negative return on equity of 39.65% and a net margin of 28.26%. Analysts expect that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current year.

Insider Activity at Ironwood Pharmaceuticals

In related news, Director Alexander J. Denner sold 6,730,800 shares of Ironwood Pharmaceuticals stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $3.05, for a total transaction of $20,528,940.00. Following the completion of the sale, the director owned 9,188,635 shares of the company’s stock, valued at approximately $28,025,336.75. The trade was a 42.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.30% of the company’s stock.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc is a commercial?stage biotechnology company focused on the discovery, development and commercialization of medicines for gastrointestinal (GI) disorders. The company’s flagship product is linaclotide, marketed under the brand name LINZESS in the United States for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Through a strategic collaboration with Allergan (now part of AbbVie), Ironwood also commercializes linaclotide in select ex-U.S.