Pacer Advisors Inc. Buys 1,701,452 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Pacer Advisors Inc. lifted its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 23.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,907,639 shares of the biotechnology company's stock after purchasing an additional 1,701,452 shares during the quarter. Pacer Advisors Inc. owned 5.69% of Ironwood Pharmaceuticals worth $58,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its stake in shares of Ironwood Pharmaceuticals by 152.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company's stock worth $50,000 after buying an additional 2,645 shares during the last quarter. CWM LLC grew its holdings in shares of Ironwood Pharmaceuticals by 55.1% during the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company's stock worth $43,000 after purchasing an additional 2,345 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Ironwood Pharmaceuticals by 68.8% in the fourth quarter. Quadrant Capital Group LLC now owns 8,578 shares of the biotechnology company's stock valued at $98,000 after buying an additional 3,497 shares during the period. SG Americas Securities LLC acquired a new stake in Ironwood Pharmaceuticals during the 1st quarter worth approximately $91,000. Finally, GAMMA Investing LLC grew its holdings in Ironwood Pharmaceuticals by 344.1% during the 2nd quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company's stock worth $69,000 after acquiring an additional 8,156 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on IRWD. Craig Hallum dropped their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, August 9th. StockNews.com upgraded Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, July 16th. Wells Fargo & Company reduced their price target on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, August 9th. Leerink Partners began coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a "market perform" rating and a $5.00 target price on the stock. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a "hold" rating in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $13.57.

Ironwood Pharmaceuticals Trading Down 4.7 %

Shares of NASDAQ:IRWD traded down $0.21 during midday trading on Friday, reaching $4.30. The company had a trading volume of 7,065,745 shares, compared to its average volume of 3,261,583. The stock has a market cap of $673.07 million, a P/E ratio of -0.63 and a beta of 0.49. Ironwood Pharmaceuticals, Inc. has a 52-week low of $3.79 and a 52-week high of $15.70. The company's 50 day moving average price is $5.34 and its 200 day moving average price is $6.62.

Insider Activity

In related news, insider Minardo John sold 9,910 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 284,661 shares of the company's stock, valued at approximately $1,215,502.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.90% of the company's stock.

Ironwood Pharmaceuticals 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.