Bank of Montreal Can Sells 8,419,683 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Bank of Montreal Can decreased its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 98.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,564 shares of the biotechnology company’s stock after selling 8,419,683 shares during the quarter. Bank of Montreal Can owned about 0.06% of Ironwood Pharmaceuticals worth $618,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in IRWD. CWM LLC lifted its position in Ironwood Pharmaceuticals by 55.1% in the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock worth $43,000 after buying 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 4th 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of Ironwood Pharmaceuticals by 344.1% in the 2nd 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. First Dallas Securities Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the 2nd quarter valued at approximately $73,000. Finally, SG Americas Securities LLC acquired a new position in shares of Ironwood Pharmaceuticals in the 1st quarter valued at $91,000.

Analyst Ratings Changes

IRWD has been the topic of a number of research reports. Craig Hallum cut their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Capital One Financial cut 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. Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target on the stock. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company decreased their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.17.

Insider Activity at Ironwood Pharmaceuticals

In other news, insider Minardo John sold 9,910 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $4.27, for a total transaction of $42,315.70. Following the completion of the sale, the insider now owns 284,661 shares in the company, valued at $1,215,502.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.90% of the stock is owned by insiders.

Ironwood Pharmaceuticals Stock Up 3.5 %

Shares of NASDAQ IRWD opened at $4.15 on Wednesday. The stock has a market cap of $649.60 million, a PE ratio of -0.61 and a beta of 0.48. The business has a 50-day moving average price of $4.75 and a 200 day moving average price of $6.23. Ironwood Pharmaceuticals, Inc. has a 52-week low of $3.79 and a 52-week high of $15.70.

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.