Connor Clark & Lunn Investment Management Ltd. Increases Stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Connor Clark & Lunn Investment Management Ltd. increased its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 170.4% in the 4th quarter, according to the company in its most recent filing with the SEC. 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 about 0.21% of Ironwood Pharmaceuticals worth $1,513,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IRWD. Pacer Advisors Inc. boosted its stake in Ironwood Pharmaceuticals by 4.0% in the 4th quarter. Pacer Advisors Inc. now owns 11,730,771 shares of the biotechnology company's stock worth $51,967,000 after purchasing an additional 450,949 shares during the period. State Street Corp boosted its stake in Ironwood Pharmaceuticals by 7.3% in the 3rd quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company's stock worth $40,870,000 after purchasing an additional 677,024 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Ironwood Pharmaceuticals by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,983,240 shares of the biotechnology company's stock worth $8,786,000 after purchasing an additional 78,969 shares during the period. Stonepine Capital Management LLC boosted its stake in Ironwood Pharmaceuticals by 1,982.8% in the 3rd quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company's stock worth $4,120,000 after purchasing an additional 951,988 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Ironwood Pharmaceuticals by 7.2% in the 4th quarter. Bank of New York Mellon Corp now owns 978,135 shares of the biotechnology company's stock worth $4,333,000 after purchasing an additional 65,357 shares during the period.

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Ironwood Pharmaceuticals Trading Down 7.8 %

Shares of IRWD traded down $0.12 during trading hours on Friday, reaching $1.41. 14,621,778 shares of the company's stock traded hands, compared to its average volume of 2,350,083. The stock has a market cap of $225.64 million, a PE ratio of -47.00 and a beta of 0.37. The firm's 50 day simple moving average is $2.27 and its 200-day simple moving average is $3.49. Ironwood Pharmaceuticals, Inc. has a 12 month low of $1.34 and a 12 month high of $9.01.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.08). The business had revenue of $90.55 million for the quarter, compared to the consensus estimate of $93.85 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. As a group, analysts expect that Ironwood Pharmaceuticals, Inc. will post 0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

IRWD has been the subject of several analyst reports. StockNews.com downgraded Ironwood Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday. Craig Hallum cut their target price on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Finally, JMP Securities dropped their price target on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a "market outperform" rating for the company in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.60.

Insider Activity at Ironwood Pharmaceuticals

In related news, CMO Michael Shetzline sold 41,269 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $72,633.44. Following the transaction, the chief marketing officer now directly owns 554,007 shares of the company's stock, valued at approximately $975,052.32. This trade represents a 6.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief executive officer now directly owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. This represents a 10.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 192,381 shares of company stock valued at $338,591. Corporate insiders own 12.90% of the company's stock.

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.