Journey Strategic Wealth LLC Purchases New Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Journey Strategic Wealth LLC purchased a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,155 shares of the biotechnology company’s stock, valued at approximately $45,000.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV increased its stake in Ironwood Pharmaceuticals by 59.3% in the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 3,198 shares during the period. SG Americas Securities LLC acquired a new position in Ironwood Pharmaceuticals in the 4th quarter valued at approximately $53,000. Diversified Trust Co acquired a new position in Ironwood Pharmaceuticals in the 3rd quarter valued at approximately $52,000. Wolverine Trading LLC acquired a new position in Ironwood Pharmaceuticals in the 3rd quarter valued at approximately $51,000. Finally, Algert Global LLC acquired a new position in Ironwood Pharmaceuticals in the 2nd quarter valued at approximately $93,000.

Ironwood Pharmaceuticals Price Performance

Ironwood Pharmaceuticals stock opened at $2.10 on Tuesday. The company’s 50 day simple moving average is $3.86 and its 200 day simple moving average is $4.42. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $2.05 and a fifty-two week high of $15.70. The firm has a market capitalization of $336.06 million, a price-to-earnings ratio of -70.00 and a beta of 0.29.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The company had revenue of $91.60 million during the quarter, compared to the consensus estimate of $91.22 million. During the same period in the previous year, the firm posted $0.12 EPS. The business’s quarterly revenue was down 19.4% compared to the same quarter last year. As a group, analysts predict that Ironwood Pharmaceuticals, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, CFO Sravan Kumar Emany sold 11,001 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.08, for a total value of $44,884.08. Following the sale, the chief financial officer now directly owns 309,572 shares in the company, valued at $1,263,053.76. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IRWD has been the topic of several research reports. Craig Hallum dropped their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. JMP Securities dropped their price target on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.67.

Ironwood Pharmaceuticals Company 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.