Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Holdings Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 20.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,571,898 shares of the biotechnology company’s stock after purchasing an additional 1,472,097 shares during the period. Renaissance Technologies LLC owned approximately 5.48% of Ironwood Pharmaceuticals worth $55,889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Ironwood Pharmaceuticals by 21.8% in the 1st quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock worth $170,031,000 after acquiring an additional 3,487,821 shares in the last quarter. Armistice Capital LLC lifted its position in shares of Ironwood Pharmaceuticals by 64.9% in the fourth quarter. Armistice Capital LLC now owns 5,700,000 shares of the biotechnology company’s stock worth $65,208,000 after purchasing an additional 2,244,000 shares in the last quarter. Kynam Capital Management LP acquired a new stake in shares of Ironwood Pharmaceuticals during the first quarter worth approximately $14,154,000. Jacobs Levy Equity Management Inc. grew its position in Ironwood Pharmaceuticals by 40.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,235,580 shares of the biotechnology company’s stock valued at $36,892,000 after purchasing an additional 1,226,377 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new position in Ironwood Pharmaceuticals in the 1st quarter valued at approximately $7,521,000.

Wall Street Analyst Weigh In

IRWD has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Leerink Partners initiated coverage on Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price on the stock. Capital One Financial downgraded Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Finally, Craig Hallum dropped their price objective on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.57.

Ironwood Pharmaceuticals Stock Performance

IRWD opened at $4.48 on Wednesday. The firm has a market cap of $701.25 million, a P/E ratio of -0.66 and a beta of 0.49. The business has a 50 day moving average price of $5.47 and a 200 day moving average price of $6.70. Ironwood Pharmaceuticals, Inc. has a twelve month low of $3.79 and a twelve month high of $15.70.

Insider Transactions at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 9,910 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 284,661 shares in the company, valued at approximately $1,215,502.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.90% of the stock is owned by corporate insiders.

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.