Ironwood Pharmaceuticals, Inc. $IRWD Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Ironwood Pharmaceuticals by 335.8% in Q1, owning approximately 1.49 million shares worth $2.19 million.
• Several other investors also acquired new stakes in Ironwood Pharmaceuticals during the fourth quarter, with investments ranging from $36,000 to $68,000.
• Ironwood's stock received a rating upgrade from a "hold" to a "strong buy", with an average target price of $4.94 according to analysts.

Connor Clark & Lunn Investment Management Ltd. grew its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 335.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,488,044 shares of the biotechnology company's stock after acquiring an additional 1,146,589 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.92% of Ironwood Pharmaceuticals worth $2,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of Ironwood Pharmaceuticals by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,306,570 shares of the biotechnology company's stock valued at $14,652,000 after acquiring an additional 13,028 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 33.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,647,015 shares of the biotechnology company's stock valued at $3,891,000 after acquiring an additional 663,775 shares during the period. Northern Trust Corp increased its holdings in shares of Ironwood Pharmaceuticals by 7.9% in the 4th quarter. Northern Trust Corp now owns 1,625,110 shares of the biotechnology company's stock valued at $7,199,000 after acquiring an additional 118,962 shares during the period. Deutsche Bank AG increased its holdings in shares of Ironwood Pharmaceuticals by 47.4% in the 4th quarter. Deutsche Bank AG now owns 1,567,535 shares of the biotechnology company's stock valued at $6,944,000 after acquiring an additional 504,336 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Ironwood Pharmaceuticals by 252.3% in the 1st quarter. Federated Hermes Inc. now owns 1,305,362 shares of the biotechnology company's stock valued at $1,919,000 after acquiring an additional 934,886 shares during the period.

Ironwood Pharmaceuticals Price Performance

IRWD traded down $0.0650 on Tuesday, reaching $1.0650. 923,962 shares of the stock were exchanged, compared to its average volume of 2,861,240. The company's 50-day moving average price is $0.79 and its 200 day moving average price is $1.05. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $0.5271 and a fifty-two week high of $5.2050. The firm has a market capitalization of $172.34 million, a PE ratio of -21.30 and a beta of 0.33.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.16. Ironwood Pharmaceuticals had a negative return on equity of 2.46% and a negative net margin of 2.25%.The company had revenue of $85.24 million during the quarter, compared to analysts' expectations of $62.02 million. Ironwood Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Ironwood Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $4.94.

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.