Michael Shetzline Sells 41,269 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Stock

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Get Free Report) CMO Michael Shetzline sold 41,269 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $72,633.44. Following the sale, the chief marketing officer now owns 554,007 shares in the company, valued at $975,052.32. This represents a 6.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ironwood Pharmaceuticals Stock Down 4.5 %

NASDAQ:IRWD traded down $0.09 during mid-day trading on Friday, hitting $1.92. 2,151,349 shares of the company traded hands, compared to its average volume of 2,572,680. The stock's fifty day moving average price is $3.54 and its 200-day moving average price is $4.10. Ironwood Pharmaceuticals, Inc. has a one year low of $1.59 and a one year high of $15.65. The firm has a market cap of $307.26 million, a price-to-earnings ratio of -64.00 and a beta of 0.29.

Analyst Upgrades and Downgrades

Several research firms have commented on IRWD. JMP Securities dropped their target price on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a "market outperform" rating on the stock in a report on Thursday, January 30th. StockNews.com downgraded Ironwood Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Finally, Craig Hallum dropped their target price on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.67.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of hedge funds have recently made changes to their positions in IRWD. Pacer Advisors Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 26.6% in the third quarter. Pacer Advisors Inc. now owns 11,279,822 shares of the biotechnology company's stock worth $46,473,000 after acquiring an additional 2,372,183 shares during the period. Stonepine Capital Management LLC boosted its stake in shares of Ironwood Pharmaceuticals by 1,982.8% in the third quarter. Stonepine Capital Management LLC now owns 1,000,000 shares of the biotechnology company's stock worth $4,120,000 after acquiring an additional 951,988 shares during the period. State Street Corp boosted its stake in shares of Ironwood Pharmaceuticals by 7.3% in the third quarter. State Street Corp now owns 9,919,865 shares of the biotechnology company's stock worth $40,870,000 after acquiring an additional 677,024 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Ironwood Pharmaceuticals by 5.5% in the fourth quarter. Renaissance Technologies LLC now owns 9,066,241 shares of the biotechnology company's stock worth $40,163,000 after acquiring an additional 469,043 shares during the period. Finally, Federated Hermes Inc. bought a new position in shares of Ironwood Pharmaceuticals in the fourth quarter worth about $1,641,000.

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.