Ironwood Pharmaceuticals (NASDAQ:IRWD) Trading Down 2.9%

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) shares fell 2.9% during mid-day trading on Monday . The company traded as low as $7.79 and last traded at $7.83. 449,404 shares changed hands during trading, a decline of 90% from the average session volume of 4,705,987 shares. The stock had previously closed at $8.06.

Analysts Set New Price Targets

Several research firms have recently commented on IRWD. Piper Sandler boosted their target price on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Friday, February 16th. Wells Fargo & Company reduced their target price on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an "overweight" rating on the stock in a report on Friday, March 1st. Craig Hallum started coverage on Ironwood Pharmaceuticals in a report on Wednesday, January 17th. They set a "buy" rating and a $21.00 price target for the company. Finally, StockNews.com downgraded Ironwood Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.80.

Ironwood Pharmaceuticals Trading Down 0.5 %

The firm has a market capitalization of $1.26 billion, a P/E ratio of -1.23 and a beta of 0.55. The stock has a 50-day simple moving average of $11.54 and a two-hundred day simple moving average of $10.83.

Insider Buying and Selling

In other news, CEO Thomas A. Mccourt sold 177,164 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $2,699,979.36. Following the transaction, the chief executive officer now owns 832,774 shares of the company's stock, valued at approximately $12,691,475.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Thomas A. Mccourt sold 177,164 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $15.24, for a total value of $2,699,979.36. Following the transaction, the chief executive officer now directly owns 832,774 shares in the company, valued at approximately $12,691,475.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sravan Kumar Emany bought 10,684 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average price of $9.38 per share, with a total value of $100,215.92. Following the acquisition, the chief financial officer now directly owns 301,733 shares in the company, valued at approximately $2,830,255.54. The disclosure for this purchase can be found here. Over the last three months, insiders sold 273,008 shares of company stock worth $4,160,642. Company insiders own 13.10% of the company's stock.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Walleye Capital LLC purchased a new position in Ironwood Pharmaceuticals in the 3rd quarter valued at approximately $1,608,000. Illinois Municipal Retirement Fund purchased a new position in Ironwood Pharmaceuticals in the third quarter valued at $743,000. Jacobs Levy Equity Management Inc. purchased a new position in Ironwood Pharmaceuticals in the third quarter valued at $22,903,000. Vanguard Group Inc. increased its stake in shares of Ironwood Pharmaceuticals by 0.3% during the third quarter. Vanguard Group Inc. now owns 14,895,700 shares of the biotechnology company's stock worth $143,446,000 after buying an additional 49,160 shares during the period. Finally, Quantbot Technologies LP raised its holdings in Ironwood Pharmaceuticals by 95.8% in the third quarter. Quantbot Technologies LP now owns 69,500 shares of the biotechnology company's stock valued at $669,000 after acquiring an additional 34,000 shares in the last quarter.

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.