Hennion & Walsh Asset Management Inc. Boosts Stock Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Hennion & Walsh Asset Management Inc. increased its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 31.7% during the 3rd quarter, Holdings Channel reports. The fund owned 170,811 shares of the biotechnology company’s stock after purchasing an additional 41,162 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Ironwood Pharmaceuticals were worth $704,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWM LLC raised its position in Ironwood Pharmaceuticals by 55.1% in the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock valued at $43,000 after purchasing 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 valued at $50,000 after acquiring an additional 2,645 shares in the last quarter. Diversified Trust Co purchased a new position in Ironwood Pharmaceuticals in the third quarter worth approximately $52,000. GAMMA Investing LLC grew its holdings in Ironwood Pharmaceuticals by 344.1% during the 2nd quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 8,156 shares in the last quarter. Finally, First Dallas Securities Inc. acquired a new position in Ironwood Pharmaceuticals during the 2nd quarter worth approximately $73,000.

Analysts Set New Price Targets

IRWD has been the subject of several recent analyst reports. 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. StockNews.com raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Finally, Leerink Partners started coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.17.

Insider Activity

In other news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals 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 transaction, the insider now directly owns 284,661 shares of the company’s stock, valued at $1,215,502.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.90% of the company’s stock.

Ironwood Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ IRWD opened at $3.96 on Monday. The business has a 50-day moving average price of $4.42 and a 200 day moving average price of $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 52-week low of $3.79 and a 52-week high of $15.70.

Ironwood Pharmaceuticals 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.