Wedge Capital Management L L P NC Invests $1.30 Million in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Wedge Capital Management L L P NC acquired a new stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 314,843 shares of the biotechnology company’s stock, valued at approximately $1,297,000.

Other hedge funds also recently bought and sold shares of the company. CWM LLC raised its position in shares of Ironwood Pharmaceuticals by 55.1% in the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 2,345 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Ironwood Pharmaceuticals by 152.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,383 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 2,645 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Ironwood Pharmaceuticals during the third quarter valued at about $52,000. GAMMA Investing LLC lifted its position in shares of Ironwood Pharmaceuticals by 344.1% during the second quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 8,156 shares during the last quarter. Finally, First Dallas Securities Inc. bought a new stake in shares of Ironwood Pharmaceuticals in the 2nd quarter valued at about $73,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Leerink Partners started coverage on Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a “market perform” rating and a $5.00 price target on the stock. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $12.00 to $4.00 in a research report on Thursday, August 8th. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Wells Fargo & Company cut their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Craig Hallum decreased their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.17.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD stock opened at $4.50 on Thursday. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $15.70. The firm has a market capitalization of $704.38 million, a PE ratio of -0.66 and a beta of 0.48. The stock’s 50-day simple moving average is $4.44 and its 200-day simple moving average is $6.04.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of the firm’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 completion of the transaction, the insider now directly owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 12.90% of the stock is owned by 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.