re = /(^|\s)(#(\w+))/m
str = 'To take this -> #test
#test <- to take this
to take this #test another word
to take this #Mest another word
To don\'t take this -> l\'#09
to don\'t take this -> » or ''
subst = '$1<a href="/hash/$3" class=\'hash_tag\'>$2</a>'
result = str.gsub(re, subst)
# Print the result of the substitution
puts result
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for Ruby, please visit: http://ruby-doc.org/core-2.2.0/Regexp.html