Several other equities analysts have also recently weighed in on the company. Wells Fargo & Co lowered their target price on Ironwood Pharmaceuticals to $18.50 and set an outperform rating on the stock in a research note on Thursday, November 1st. HC Wainwright set a $13.00 target price on Ironwood Pharmaceuticals and gave the company a sell rating in a research note on Wednesday, October 31st. ValuEngine cut Ironwood Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, October 31st. Finally, BidaskClub raised Ironwood Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, September 28th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $17.35.
IRWD traded up $0.16 during trading on Wednesday, reaching $12.08. The company had a trading volume of 2,840,696 shares, compared to its average volume of 1,719,167. The stock has a market capitalization of $1.96 billion, a P/E ratio of -12.99 and a beta of 1.33. Ironwood Pharmaceuticals has a 12-month low of $11.86 and a 12-month high of $21.20.
In related news, insider Mark G. Currie sold 116,651 shares of the business’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $17.53, for a total value of $2,044,892.03. Following the completion of the sale, the insider now owns 70,680 shares of the company’s stock, valued at approximately $1,239,020.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Julie Mchugh sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $19.10, for a total value of $28,650.00. Following the completion of the sale, the director now directly owns 91,131 shares of the company’s stock, valued at approximately $1,740,602.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 248,339 shares of company stock worth $4,475,466. Company insiders own 7.63% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new stake in shares of Ironwood Pharmaceuticals in the 2nd quarter valued at approximately $186,000. V Wealth Management LLC bought a new stake in shares of Ironwood Pharmaceuticals in the 2nd quarter valued at approximately $258,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at approximately $249,000. PNC Financial Services Group Inc. grew its stake in shares of Ironwood Pharmaceuticals by 17,621.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 17,013 shares of the biotechnology company’s stock valued at $325,000 after buying an additional 16,917 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Ironwood Pharmaceuticals by 17.4% in the 2nd quarter. Amalgamated Bank now owns 21,156 shares of the biotechnology company’s stock valued at $405,000 after buying an additional 3,142 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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