Profund Advisors LLC Sells 86,472 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Profund Advisors LLC decreased its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 53.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 75,383 shares of the biotechnology company’s stock after selling 86,472 shares during the quarter. Profund Advisors LLC’s holdings in Ironwood Pharmaceuticals were worth $491,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Ironwood Pharmaceuticals by 244.8% in the 1st quarter. Russell Investments Group Ltd. now owns 777,847 shares of the biotechnology company’s stock worth $6,775,000 after acquiring an additional 552,227 shares in the last quarter. Eventide Asset Management LLC bought a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth $8,472,000. Norges Bank acquired a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter valued at $9,321,000. Entropy Technologies LP bought a new position in shares of Ironwood Pharmaceuticals in the first quarter valued at about $693,000. Finally, First Eagle Investment Management LLC lifted its position in Ironwood Pharmaceuticals by 10.5% during the 1st quarter. First Eagle Investment Management LLC now owns 1,002,225 shares of the biotechnology company’s stock worth $8,729,000 after buying an additional 95,000 shares in the last quarter.

Insider Transactions at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 9,910 shares of the company’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 completion of the transaction, the insider now directly owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

IRWD has been the subject of a number of recent research reports. Wells Fargo & Company dropped 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. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Leerink Partners began coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They set a “market perform” rating and a $5.00 price target for the company. Capital One Financial lowered shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.57.

Ironwood Pharmaceuticals Price Performance

NASDAQ IRWD opened at $3.93 on Thursday. Ironwood Pharmaceuticals, Inc. has a one year low of $3.79 and a one year high of $15.70. The firm has a market cap of $627.78 million, a P/E ratio of -0.58 and a beta of 0.49. The stock’s 50-day moving average is $5.18 and its 200-day moving average is $6.51.

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.