Rhumbline Advisers Boosts Stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Rhumbline Advisers lifted its holdings in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 365,701 shares of the biotechnology company’s stock after acquiring an additional 2,577 shares during the quarter. Rhumbline Advisers’ holdings in Ironwood Pharmaceuticals were worth $2,384,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of IRWD. Vanguard Group Inc. boosted its holdings in Ironwood Pharmaceuticals by 21.8% in the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock valued at $170,031,000 after purchasing an additional 3,487,821 shares during the last quarter. Armistice Capital LLC boosted its stake in shares of Ironwood Pharmaceuticals by 64.9% during the 4th quarter. Armistice Capital LLC now owns 5,700,000 shares of the biotechnology company’s stock valued at $65,208,000 after buying an additional 2,244,000 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of 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 worth $36,892,000 after buying an additional 1,226,377 shares in the last quarter. Kynam Capital Management LP bought a new stake in shares of Ironwood Pharmaceuticals in the first quarter worth $14,154,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Ironwood Pharmaceuticals by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,288,653 shares of the biotechnology company’s stock valued at $14,742,000 after acquiring an additional 57,859 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Ironwood Pharmaceuticals Trading Up 0.9 %

NASDAQ:IRWD opened at $4.52 on Thursday. The stock has a 50 day moving average of $5.43 and a 200-day moving average of $6.68. The firm has a market capitalization of $707.51 million, a PE ratio of -0.67 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.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $4.27, for a total value of $42,315.70. Following the sale, the insider now directly owns 284,661 shares of the company’s stock, valued at $1,215,502.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.90% of the company’s stock.

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.