Armistice Capital LLC raised its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) by 44.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,800,000 shares of the biotechnology company's stock after purchasing an additional 2,400,000 shares during the quarter. Ironwood Pharmaceuticals accounts for approximately 0.6% of Armistice Capital LLC's holdings, making the stock its 20th biggest position. Armistice Capital LLC owned about 4.98% of Ironwood Pharmaceuticals worth $50,856,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter worth about $9,321,000. Old West Investment Management LLC boosted its position in Ironwood Pharmaceuticals by 1.4% during the 4th quarter. Old West Investment Management LLC now owns 56,921 shares of the biotechnology company's stock valued at $651,000 after acquiring an additional 761 shares in the last quarter. 13D Management LLC raised its holdings in Ironwood Pharmaceuticals by 971.8% in the fourth quarter. 13D Management LLC now owns 367,649 shares of the biotechnology company's stock worth $4,206,000 after purchasing an additional 333,348 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Ironwood Pharmaceuticals by 4.0% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,140,470 shares of the biotechnology company's stock valued at $13,047,000 after acquiring an additional 43,800 shares during the last quarter. Finally, Parkman Healthcare Partners LLC grew its stake in Ironwood Pharmaceuticals by 20.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 120,652 shares of the biotechnology company's stock worth $1,380,000 after buying an additional 20,652 shares during the last quarter.
Ironwood Pharmaceuticals Stock Performance
Shares of Ironwood Pharmaceuticals stock traded up $0.13 during trading hours on Thursday, hitting $4.06. The company's stock had a trading volume of 1,026,425 shares, compared to its average volume of 3,220,336. The firm has a fifty day moving average of $5.18 and a 200-day moving average of $6.51. The stock has a market cap of $635.51 million, a price-to-earnings ratio of -0.60 and a beta of 0.49. Ironwood Pharmaceuticals, Inc. has a twelve month low of $3.79 and a twelve month high of $15.70.
Insider Buying and Selling at Ironwood Pharmaceuticals
In related news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $4.27, for a total value of $42,315.70. Following the completion of the sale, the insider now owns 284,661 shares in the company, valued at approximately $1,215,502.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.90% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a "hold" rating in a research report on Monday, September 9th. Leerink Partners assumed coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a "market perform" rating and a $5.00 price objective on the stock. Wells Fargo & Company reduced their price objective 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. Capital One Financial cut Ironwood Pharmaceuticals from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $12.00 to $4.00 in a report on Thursday, August 8th. Finally, StockNews.com upgraded Ironwood Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.57.
Check Out Our Latest Analysis on IRWD
About Ironwood Pharmaceuticals
(
Free Report)
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.
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