Exchange Traded Concepts LLC Takes Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Exchange Traded Concepts LLC acquired a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 67,691 shares of the biotechnology company’s stock, valued at approximately $279,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IRWD. PNC Financial Services Group Inc. lifted its stake 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 acquiring an additional 2,645 shares during the last quarter. CWM LLC raised its holdings in Ironwood Pharmaceuticals by 55.1% during the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 2,345 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Ironwood Pharmaceuticals during the first quarter worth approximately $91,000. GAMMA Investing LLC raised its holdings in 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 in the last quarter. Finally, EntryPoint Capital LLC raised its holdings in Ironwood Pharmaceuticals by 517.4% during the first quarter. EntryPoint Capital LLC now owns 10,589 shares of the biotechnology company’s stock worth $92,000 after purchasing an additional 8,874 shares in the last quarter.

Analysts Set New Price Targets

IRWD has been the topic of a number of recent research reports. Craig Hallum cut their target price on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Leerink Partners initiated coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price on the stock. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Capital One Financial cut shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $12.00 to $4.00 in a report on Thursday, August 8th. Finally, Wells Fargo & Company cut their target price on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $12.17.

Insider Activity at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of the business’s stock in a transaction 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 directly owns 284,661 shares in the company, valued at approximately $1,215,502.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.90% of the stock is currently owned by insiders.

Ironwood Pharmaceuticals Price Performance

NASDAQ:IRWD opened at $4.40 on Monday. The firm’s fifty day moving average price is $4.46 and its 200 day moving average price is $5.97. Ironwood Pharmaceuticals, Inc. has a 1-year low of $3.79 and a 1-year high of $15.70. The firm has a market cap of $688.73 million, a price-to-earnings ratio of -0.65 and a beta of 0.48.

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.