Legacy Capital Group California Inc. Makes New Investment in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Legacy Capital Group California Inc. acquired a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 14,307 shares of the biotechnology company’s stock, valued at approximately $59,000.

A number of other hedge funds have also modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in Ironwood Pharmaceuticals by 152.2% during the 4th 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 during the period. CWM LLC grew its holdings in shares of Ironwood Pharmaceuticals by 55.1% during the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after buying an additional 2,345 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Ironwood Pharmaceuticals during the first quarter worth about $91,000. GAMMA Investing LLC increased its position in Ironwood Pharmaceuticals by 344.1% in the 2nd quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 8,156 shares during the period. Finally, EntryPoint Capital LLC raised its stake in Ironwood Pharmaceuticals by 517.4% during the 1st quarter. EntryPoint Capital LLC now owns 10,589 shares of the biotechnology company’s stock valued at $92,000 after acquiring an additional 8,874 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IRWD shares. Leerink Partners started 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. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Craig Hallum reduced their target price on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company cut their price target on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.17.

Insiders Place Their Bets

In other 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 transaction of $42,315.70. Following the completion of the sale, the insider now directly owns 284,661 shares in the company, valued at approximately $1,215,502.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.90% of the stock is currently owned by company insiders.

Ironwood Pharmaceuticals Stock Down 0.5 %

NASDAQ:IRWD opened at $3.96 on Friday. The firm’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $5.84. The stock has a market cap of $632.57 million, a PE ratio of 99.00 and a beta of 0.48. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $15.70.

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.