Cibc World Markets Corp Invests $59,000 in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Cibc World Markets Corp bought a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,240 shares of the biotechnology company’s stock, valued at approximately $59,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of IRWD. Journey Strategic Wealth LLC acquired a new stake in Ironwood Pharmaceuticals during the 4th quarter valued at approximately $45,000. Catalyst Funds Management Pty Ltd acquired a new position in Ironwood Pharmaceuticals during the fourth quarter valued at $47,000. Wolverine Trading LLC purchased a new stake in Ironwood Pharmaceuticals in the third quarter valued at $51,000. SG Americas Securities LLC purchased a new stake in Ironwood Pharmaceuticals in the fourth quarter valued at $53,000. Finally, CIBC Asset Management Inc acquired a new stake in Ironwood Pharmaceuticals during the 4th quarter worth about $53,000.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD opened at $1.46 on Friday. The firm has a market cap of $233.64 million, a P/E ratio of -48.67 and a beta of 0.37. Ironwood Pharmaceuticals, Inc. has a 12 month low of $1.34 and a 12 month high of $9.01. The stock’s 50 day moving average is $2.09 and its two-hundred day moving average is $3.41.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its 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 analysts’ expectations of $93.85 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. Equities research analysts forecast that Ironwood Pharmaceuticals, Inc. will post 0.1 EPS for the current year.

Analyst Upgrades and Downgrades

IRWD has been the topic of a number of recent research reports. Craig Hallum lowered their target price on 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 lowered their price objective on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 30th. Finally, StockNews.com cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.60.

Insider Transactions at Ironwood Pharmaceuticals

In related news, CMO Michael Shetzline sold 41,269 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $72,633.44. Following the sale, the chief marketing officer now directly owns 554,007 shares in the company, valued at approximately $975,052.32. The trade was a 6.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas A. Mccourt sold 139,064 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $2,042,715.84. The trade was a 10.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 192,381 shares of company stock valued at $338,591 over the last 90 days. Corporate insiders own 12.90% of the company’s stock.

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.