Segall Bryant & Hamill LLC Buys New Position in Ironwood Pharmaceuticals, Inc. $IRWD

Key Points

• Segall Bryant & Hamill LLC initiated a position in Ironwood Pharmaceuticals by purchasing 278,201 shares valued at approximately $976,000. Other institutional investors, including Arrowstreet Capital, also increased their holdings substantially.
• Ironwood shares opened at $4.15, with a 52-week range of $0.80 to $5.78 and a market capitalization of about $676.7 million. The company reported quarterly revenue of $106.5 million, exceeding estimates, but EPS of $0.24 narrowly missed consensus.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and a target price of $6.23. Insiders recently sold shares, including transactions by Director Julie Mchugh and insider Ronald Silver.

Segall Bryant & Hamill LLC bought a new position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 278,201 shares of the biotechnology company's stock, valued at approximately $976,000. Segall Bryant & Hamill LLC owned 0.17% of Ironwood Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IRWD. Bull Harbor Capital LLC acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at approximately $48,000. EverSource Wealth Advisors LLC grew its position in shares of Ironwood Pharmaceuticals by 48.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 20,336 shares of the biotechnology company's stock worth $71,000 after buying an additional 6,656 shares during the period. Quantinno Capital Management LP increased its stake in shares of Ironwood Pharmaceuticals by 9.1% in the 1st quarter. Quantinno Capital Management LP now owns 129,703 shares of the biotechnology company's stock valued at $455,000 after acquiring an additional 10,810 shares in the last quarter. OMERS ADMINISTRATION Corp grew its holdings in Ironwood Pharmaceuticals by 5.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 226,310 shares of the biotechnology company's stock worth $794,000 after purchasing an additional 11,200 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Ironwood Pharmaceuticals by 724.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,397,242 shares of the biotechnology company's stock valued at $11,924,000 after acquiring an additional 2,985,181 shares in the last quarter.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD opened at $4.15 on Thursday. Ironwood Pharmaceuticals, Inc. has a 1-year low of $0.80 and a 1-year high of $5.78. The company has a market capitalization of $676.70 million, a P/E ratio of 6.92 and a beta of 0.20. The firm's 50 day simple moving average is $3.87 and its 200 day simple moving average is $3.97.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The company had revenue of $106.51 million during the quarter, compared to analysts' expectations of $92.11 million. Ironwood Pharmaceuticals had a negative return on equity of 39.65% and a net margin of 28.26%. On average, equities analysts anticipate that Ironwood Pharmaceuticals, Inc. will post 1.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. 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. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ironwood Pharmaceuticals in a report on Friday, July 24th. Finally, Zacks Research lowered shares of Ironwood Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 30th. 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 company. According to MarketBeat, Ironwood Pharmaceuticals currently has a consensus rating of "Hold" and a consensus target price of $6.23.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 21,571 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.73, for a total transaction of $80,459.83. Following the sale, the director owned 250,749 shares in the company, valued at $935,293.77. This trade represents a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ronald Silver sold 127,890 shares of Ironwood Pharmaceuticals stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $4.52, for a total value of $578,062.80. Following the sale, the insider directly owned 313,680 shares of the company's stock, valued at approximately $1,417,833.60. This trade represents a 28.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.

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