Ballentine Partners LLC Invests $89,000 in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Ballentine Partners LLC purchased a new position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,541 shares of the biotechnology company’s stock, valued at approximately $89,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Capital Group California Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter worth $59,000. Hennion & Walsh Asset Management Inc. raised its holdings in Ironwood Pharmaceuticals by 31.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 170,811 shares of the biotechnology company’s stock worth $704,000 after purchasing an additional 41,162 shares during the period. Everence Capital Management Inc. raised its holdings in Ironwood Pharmaceuticals by 36.3% in the 3rd quarter. Everence Capital Management Inc. now owns 27,850 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 7,420 shares during the period. Creative Planning raised its holdings in Ironwood Pharmaceuticals by 12.7% in the 3rd quarter. Creative Planning now owns 42,151 shares of the biotechnology company’s stock worth $174,000 after purchasing an additional 4,749 shares during the period. Finally, Wedge Capital Management L L P NC bought a new position in Ironwood Pharmaceuticals in the 3rd quarter worth $1,297,000.

Insider Buying and Selling

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 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 legal filing with the SEC, which is accessible through this hyperlink. 12.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on IRWD shares. Leerink Partners started coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price on the stock. StockNews.com raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company decreased their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $12.00 to $4.00 in a report on Thursday, August 8th. Finally, Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.17.

Ironwood Pharmaceuticals Stock Down 2.4 %

Shares of Ironwood Pharmaceuticals stock opened at $4.15 on Thursday. The firm has a market cap of $649.60 million, a price-to-earnings ratio of -0.61 and a beta of 0.48. The business has a 50-day moving average price of $4.38 and a 200-day moving average price of $5.76. Ironwood Pharmaceuticals, Inc. has a twelve month low of $3.79 and a twelve month 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.