Pacer Advisors Inc. Increases Stock Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Pacer Advisors Inc. increased its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 23.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,907,639 shares of the biotechnology company’s stock after purchasing an additional 1,701,452 shares during the quarter. Pacer Advisors Inc. owned approximately 5.69% of Ironwood Pharmaceuticals worth $58,078,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC lifted its position 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 worth $43,000 after buying an additional 2,345 shares in the last quarter. PNC Financial Services Group Inc. boosted its position 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 worth $50,000 after purchasing an additional 2,645 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Ironwood Pharmaceuticals by 344.1% during the 2nd quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 8,156 shares during the last quarter. First Dallas Securities Inc. bought a new position in Ironwood Pharmaceuticals during the second quarter valued at about $73,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Ironwood Pharmaceuticals during the 1st quarter worth approximately $91,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 9th. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Craig Hallum cut 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 report on Friday, August 9th. Finally, Leerink Partners began 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.57.

Ironwood Pharmaceuticals Stock Down 4.7 %

IRWD stock opened at $4.30 on Friday. The stock has a 50-day simple moving average of $5.34 and a two-hundred day simple moving average of $6.62. Ironwood Pharmaceuticals, Inc. has a twelve month low of $3.79 and a twelve month high of $15.70. The firm has a market capitalization of $673.07 million, a PE ratio of -0.63 and a beta of 0.49.

Insider Activity

In related news, insider Minardo John sold 9,910 shares of the company’s 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 sale, the insider now owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.90% of the stock is owned by company insiders.

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.