Persistent Asset Partners Ltd Takes Position in Ironwood Pharmaceuticals, Inc. $IRWD

Persistent Asset Partners Ltd acquired a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 182,046 shares of the biotechnology company’s stock, valued at approximately $613,000. Persistent Asset Partners Ltd owned approximately 0.11% of Ironwood Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Range Financial Group LLC purchased a new position in Ironwood Pharmaceuticals in the 4th quarter valued at approximately $1,436,000. GSA Capital Partners LLP boosted its holdings in Ironwood Pharmaceuticals by 84.7% in the fourth quarter. GSA Capital Partners LLP now owns 571,613 shares of the biotechnology company’s stock valued at $1,926,000 after purchasing an additional 262,084 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Ironwood Pharmaceuticals during the 4th quarter worth $3,897,000. WINTON GROUP Ltd acquired a new position in Ironwood Pharmaceuticals during the 4th quarter worth $554,000. Finally, Calamos Advisors LLC purchased a new stake in Ironwood Pharmaceuticals during the 4th quarter worth about $49,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IRWD. Wall Street Zen upgraded Ironwood Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ironwood Pharmaceuticals in a report on Monday, April 27th. Jefferies Financial Group reiterated a “hold” rating and issued a $3.70 price target on shares of Ironwood Pharmaceuticals in a research note on Thursday, February 26th. Zacks Research cut shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Citizens Jmp increased their price objective on shares of Ironwood Pharmaceuticals from $8.00 to $10.00 and gave the company a “market outperform” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.23.

Ironwood Pharmaceuticals Stock Performance

NASDAQ:IRWD opened at $3.66 on Wednesday. The stock has a 50-day simple moving average of $3.83 and a 200-day simple moving average of $3.88. The stock has a market cap of $596.80 million, a P/E ratio of 6.10 and a beta of 0.25. Ironwood Pharmaceuticals, Inc. has a 1 year low of $0.62 and a 1 year high of $5.78.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $106.51 million for the quarter, compared to analyst estimates 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 research analysts predict that Ironwood Pharmaceuticals, Inc. will post 1.04 EPS for the current year.

About Ironwood Pharmaceuticals

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.