International Biotechnology Trust PLC boosted its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Rating) by 8,570.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,000 shares of the biotechnology company's stock after purchasing an additional 59,308 shares during the period. International Biotechnology Trust PLC's holdings in Ironwood Pharmaceuticals were worth $621,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. KBC Group NV acquired a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at approximately $129,000. LSV Asset Management lifted its position in shares of Ironwood Pharmaceuticals by 5.8% in the third quarter. LSV Asset Management now owns 7,914,220 shares of the biotechnology company's stock valued at $81,991,000 after buying an additional 435,063 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Ironwood Pharmaceuticals by 14.7% in the third quarter. Inspire Investing LLC now owns 20,981 shares of the biotechnology company's stock valued at $217,000 after buying an additional 2,690 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at approximately $153,000. Finally, Creative Planning lifted its position in shares of Ironwood Pharmaceuticals by 10.3% in the third quarter. Creative Planning now owns 29,184 shares of the biotechnology company's stock valued at $302,000 after buying an additional 2,726 shares during the last quarter.
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Insider Transactions at Ironwood Pharmaceuticals
In other news, CEO Thomas A. Mccourt sold 110,962 shares of the stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $12.07, for a total transaction of $1,339,311.34. Following the transaction, the chief executive officer now owns 712,440 shares in the company, valued at $8,599,150.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.10% of the stock is owned by corporate insiders.
Ironwood Pharmaceuticals Stock Performance
Shares of NASDAQ IRWD traded down $0.11 during trading hours on Wednesday, reaching $11.41. 40,800 shares of the stock were exchanged, compared to its average volume of 1,874,643. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 12.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 25.78 and a current ratio of 25.78. Ironwood Pharmaceuticals, Inc. has a 52 week low of $9.73 and a 52 week high of $12.95. The stock's fifty day simple moving average is $11.87 and its 200 day simple moving average is $11.35.
Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) last announced its earnings results on Thursday, November 3rd. The biotechnology company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The company had revenue of $108.64 million for the quarter, compared to analyst estimates of $111.51 million. Ironwood Pharmaceuticals had a return on equity of 30.24% and a net margin of 39.85%. Sell-side analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.99 EPS for the current year.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, December 17th.
About Ironwood Pharmaceuticals
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Ironwood Pharmaceuticals, Inc is a healthcare company, which focuses on the development and commercialization of Gastrointestinal (GI) product opportunities in areas of significant unmet need, leveraging demonstrated expertise and capabilities in GI diseases. Its products include linaclotide, a guanylate cyclase type-C agonists which treats patients irritable bowel syndrome with constipation and chronic constipation.
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