Algert Global LLC Purchases Shares of 14,200 Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Algert Global LLC acquired a new position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,200 shares of the biotechnology company’s stock, valued at approximately $93,000.

A number of other large investors also recently modified their holdings of the company. Texas Permanent School Fund Corp increased its position in Ironwood Pharmaceuticals by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 120,245 shares of the biotechnology company’s stock worth $1,047,000 after purchasing an additional 1,557 shares in the last quarter. CWM LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 55.1% during the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 2,345 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Ironwood Pharmaceuticals by 3.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 70,400 shares of the biotechnology company’s stock worth $459,000 after purchasing an additional 2,400 shares during the period. SummerHaven Investment Management LLC increased its holdings in Ironwood Pharmaceuticals by 3.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 72,030 shares of the biotechnology company’s stock valued at $470,000 after purchasing an additional 2,491 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Ironwood Pharmaceuticals by 0.7% in the second quarter. Rhumbline Advisers now owns 365,701 shares of the biotechnology company’s stock valued at $2,384,000 after purchasing an additional 2,577 shares during the period.

Ironwood Pharmaceuticals Price Performance

NASDAQ IRWD opened at $4.26 on Friday. The company has a market capitalization of $680.49 million, a price-to-earnings ratio of 104.50 and a beta of 0.48. Ironwood Pharmaceuticals, Inc. has a 12 month low of $3.79 and a 12 month high of $15.70. The company’s fifty day moving average price is $4.59 and its two-hundred day moving average price is $6.17.

Insider Transactions at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, August 12th. The stock was 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 in the company, valued at approximately $1,215,502.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.90% of the company’s stock.

Wall Street Analysts Forecast Growth

IRWD has been the subject of a number of recent research reports. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Wells Fargo & Company dropped their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Leerink Partners started coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price for the company. Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

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.