Range Financial Group LLC Acquires Shares of 426,095 Ironwood Pharmaceuticals, Inc. $IRWD

Range Financial Group LLC bought a new position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 426,095 shares of the biotechnology company’s stock, valued at approximately $1,436,000. Range Financial Group LLC owned about 0.26% of Ironwood Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of IRWD. Hennion & Walsh Asset Management Inc. grew its stake in Ironwood Pharmaceuticals by 15.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 196,032 shares of the biotechnology company’s stock worth $661,000 after purchasing an additional 26,539 shares in the last quarter. SG Americas Securities LLC increased its holdings in Ironwood Pharmaceuticals by 56.3% in the fourth quarter. SG Americas Securities LLC now owns 57,747 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 20,795 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Ironwood Pharmaceuticals by 30.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,920,530 shares of the biotechnology company’s stock valued at $2,516,000 after buying an additional 445,484 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Ironwood Pharmaceuticals by 351.2% during the third quarter. Public Employees Retirement System of Ohio now owns 60,768 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 47,299 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Ironwood Pharmaceuticals by 113.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 71,353 shares of the biotechnology company’s stock worth $93,000 after buying an additional 37,938 shares during the last quarter.

Ironwood Pharmaceuticals Trading Up 5.6%

NASDAQ:IRWD opened at $3.23 on Tuesday. The firm has a market capitalization of $526.68 million, a PE ratio of 24.85 and a beta of 0.24. The stock has a 50 day moving average of $4.06 and a 200-day moving average of $3.17. Ironwood Pharmaceuticals, Inc. has a 52 week low of $0.53 and a 52 week high of $5.78.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). Ironwood Pharmaceuticals had a negative return on equity of 13.72% and a net margin of 8.11%.The company had revenue of $47.71 million during the quarter, compared to the consensus estimate of $86.10 million. As a group, analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, Director Alexander J. Denner sold 6,730,800 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $3.05, for a total value of $20,528,940.00. Following the sale, the director directly owned 9,188,635 shares in the company, valued at approximately $28,025,336.75. This trade represents a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 12.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IRWD. Zacks Research downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Wells Fargo & Company raised their price objective on Ironwood Pharmaceuticals from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Craig Hallum raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ironwood Pharmaceuticals in a research note on Monday, December 29th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $3.70 target price on shares of Ironwood Pharmaceuticals in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given 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 $4.93.

Ironwood Pharmaceuticals 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.