First Eagle Investment Management LLC Grows Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

First Eagle Investment Management LLC raised its position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,104,225 shares of the biotechnology company’s stock after buying an additional 102,000 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.71% of Ironwood Pharmaceuticals worth $7,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. CWM LLC raised its stake in 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 during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Ironwood Pharmaceuticals by 152.2% during 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 during the last quarter. GAMMA Investing LLC raised its stake 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 worth $69,000 after purchasing an additional 8,156 shares during the last quarter. First Dallas Securities Inc. acquired a new stake in shares of Ironwood Pharmaceuticals during the second quarter worth $73,000. Finally, SG Americas Securities LLC purchased a new position in Ironwood Pharmaceuticals in the 1st quarter valued at $91,000.

Insider Buying and Selling

In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $4.27, for a total transaction of $42,315.70. Following the sale, the insider now directly owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IRWD. Capital One Financial downgraded shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Leerink Partners began coverage on Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a “market perform” rating and a $5.00 target price on the stock. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Finally, Craig Hallum dropped their price objective on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.57.

Ironwood Pharmaceuticals Price Performance

Shares of IRWD opened at $4.51 on Friday. Ironwood Pharmaceuticals, Inc. has a 1-year low of $3.79 and a 1-year high of $15.70. The stock has a market cap of $705.95 million, a price-to-earnings ratio of -0.66 and a beta of 0.49. The firm has a 50 day simple moving average of $5.38 and a 200-day simple moving average of $6.67.

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.