Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its stake in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 10.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,330 shares of the biotechnology company’s stock after acquiring an additional 1,483 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ironwood Pharmaceuticals were worth $175,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position in shares of Ironwood Pharmaceuticals by 96.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,997 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 1,961 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Ironwood Pharmaceuticals by 396.5% during the third quarter. Headlands Technologies LLC now owns 6,737 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 5,380 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Ironwood Pharmaceuticals by 21.5% during the third quarter. Mackenzie Financial Corp now owns 12,713 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 2,253 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at $129,000. Finally, Xponance Inc. purchased a new position in Ironwood Pharmaceuticals in the 3rd quarter worth about $144,000.

Ironwood Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ IRWD opened at $8.08 on Friday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -1.24 and a beta of 0.55. Ironwood Pharmaceuticals, Inc. has a 12-month low of $7.53 and a 12-month high of $15.70. The firm’s 50-day simple moving average is $9.64 and its 200 day simple moving average is $10.66.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IRWD shares. StockNews.com downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. Craig Hallum started coverage on Ironwood Pharmaceuticals in a report on Wednesday, January 17th. They issued a “buy” rating and a $21.00 target price for the company. Wells Fargo & Company lowered their price target on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Finally, Piper Sandler increased their price objective on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

Insiders Place Their Bets

In related news, Director Jon R. Duane purchased 6,920 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $8.70 per share, with a total value of $60,204.00. Following the completion of the acquisition, the director now directly owns 121,028 shares in the company, valued at approximately $1,052,943.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 177,164 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $2,699,979.36. Following the completion of the sale, the chief executive officer now directly owns 832,774 shares of the company’s stock, valued at approximately $12,691,475.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jon R. Duane bought 6,920 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average price of $8.70 per share, for a total transaction of $60,204.00. Following the completion of the transaction, the director now owns 121,028 shares in the company, valued at approximately $1,052,943.60. The disclosure for this purchase can be found here. Over the last three months, insiders sold 273,008 shares of company stock valued at $4,160,642. Insiders own 13.10% of the company’s stock.

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.