Northeast Financial Consultants Inc purchased a new position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 177,455 shares of the biotechnology company’s stock, valued at approximately $2,401,000.
A number of other large investors have also recently made changes to their positions in IRWD. Gotham Asset Management LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter valued at about $135,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Ironwood Pharmaceuticals in the first quarter valued at about $190,000. Financial Counselors Inc. acquired a new stake in shares of Ironwood Pharmaceuticals in the first quarter valued at about $204,000. Bank of Montreal Can grew its stake in shares of Ironwood Pharmaceuticals by 426.9% in the fourth quarter. Bank of Montreal Can now owns 16,846 shares of the biotechnology company’s stock valued at $175,000 after buying an additional 13,649 shares in the last quarter. Finally, Perennial Advisors LLC purchased a new position in Ironwood Pharmaceuticals in the first quarter valued at about $243,000. Institutional investors own 99.22% of the company’s stock.
IRWD traded down $0.29 on Wednesday, reaching $10.83. The company’s stock had a trading volume of 13,747 shares, compared to its average volume of 1,475,839. Ironwood Pharmaceuticals, Inc. has a 1 year low of $9.07 and a 1 year high of $21.20. The company has a market capitalization of $1.71 billion, a P/E ratio of -11.38 and a beta of 1.78.
In other Ironwood Pharmaceuticals news, CFO Gina Consylman sold 4,055 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $10.53, for a total transaction of $42,699.15. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.90% of the company’s stock.
A number of brokerages recently commented on IRWD. BidaskClub downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Credit Suisse Group set a $16.00 price target on Ironwood Pharmaceuticals and gave the company a “hold” rating in a report on Friday, March 22nd. ValuEngine raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. BTIG Research set a $19.00 price target on Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, February 14th. Finally, GMP Securities raised Ironwood Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price target for the company from $11.50 to $14.00 in a report on Monday, February 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.15.
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About Ironwood Pharmaceuticals
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; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.
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