Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading 4.2% Higher

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)’s stock price traded up 4.2% during mid-day trading on Monday . The company traded as high as $4.50 and last traded at $4.50. 158,306 shares were traded during mid-day trading, a decline of 95% from the average session volume of 3,424,728 shares. The stock had previously closed at $4.32.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IRWD shares. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Wells Fargo & Company reduced their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $12.00 to $4.00 in a research report on Thursday, August 8th. Finally, Craig Hallum dropped their target price on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Ironwood Pharmaceuticals Stock Up 5.3 %

The company has a 50 day moving average price of $6.10 and a 200-day moving average price of $8.21. The company has a market cap of $712.21 million, a price-to-earnings ratio of -0.67 and a beta of 0.52.

Insiders Place Their Bets

In other news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, August 12th. The shares were sold at an average price of $4.27, for a total transaction of $42,315.70. Following the transaction, the insider now owns 284,661 shares in the company, valued at $1,215,502.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Julie Mchugh sold 22,766 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $6.29, for a total value of $143,198.14. Following the sale, the director now directly owns 139,528 shares in the company, valued at $877,631.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Minardo John sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $4.27, for a total transaction of $42,315.70. Following the transaction, the insider now owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. The disclosure for this sale can be found here. Insiders have sold 77,102 shares of company stock valued at $468,063 in the last ninety days. 12.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Ironwood Pharmaceuticals by 21.8% during the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock valued at $170,031,000 after acquiring an additional 3,487,821 shares during the last quarter. Armistice Capital LLC lifted its stake in shares of Ironwood Pharmaceuticals by 44.4% in the 2nd quarter. Armistice Capital LLC now owns 7,800,000 shares of the biotechnology company’s stock valued at $50,856,000 after purchasing an additional 2,400,000 shares during the period. Pacer Advisors Inc. boosted its position in shares of Ironwood Pharmaceuticals by 23.6% during the 2nd quarter. Pacer Advisors Inc. now owns 8,907,639 shares of the biotechnology company’s stock valued at $58,078,000 after purchasing an additional 1,701,452 shares in the last quarter. Kynam Capital Management LP acquired a new stake in Ironwood Pharmaceuticals during the first quarter worth approximately $14,154,000. Finally, Renaissance Technologies LLC increased its holdings in Ironwood Pharmaceuticals by 20.7% in the second quarter. Renaissance Technologies LLC now owns 8,571,898 shares of the biotechnology company’s stock worth $55,889,000 after purchasing an additional 1,472,097 shares in the last quarter.

About Ironwood Pharmaceuticals

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.