Daiwa Securities Group Inc. Purchases 1,900 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Daiwa Securities Group Inc. raised its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 331.6% in the fourth quarter, HoldingsChannel reports. The fund owned 2,473 shares of the biotechnology company’s stock after acquiring an additional 1,900 shares during the period. Daiwa Securities Group Inc.’s holdings in Ironwood Pharmaceuticals were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 0.3% in the third quarter. Vanguard Group Inc. now owns 14,895,700 shares of the biotechnology company’s stock valued at $143,446,000 after buying an additional 49,160 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 17.9% in the third quarter. Victory Capital Management Inc. now owns 4,406,732 shares of the biotechnology company’s stock valued at $42,437,000 after buying an additional 668,694 shares during the period. Armistice Capital LLC bought a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at approximately $33,281,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Ironwood Pharmaceuticals by 160.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 2,462,300 shares of the biotechnology company’s stock valued at $23,712,000 after buying an additional 1,518,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at approximately $22,903,000.

Insider Transactions at Ironwood Pharmaceuticals

In related news, CMO Michael Shetzline sold 38,618 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $588,538.32. Following the completion of the sale, the chief marketing officer now directly owns 340,484 shares in the company, valued at $5,188,976.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Andrew Davis sold 9,846 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $150,053.04. Following the completion of the sale, the senior vice president now directly owns 208,324 shares in the company, valued at $3,174,857.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Michael Shetzline sold 38,618 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $15.24, for a total transaction of $588,538.32. Following the completion of the transaction, the chief marketing officer now directly owns 340,484 shares in the company, valued at approximately $5,188,976.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,008 shares of company stock worth $4,160,642. Corporate insiders own 13.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IRWD. Wells Fargo & Company cut their price target on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Craig Hallum assumed coverage on Ironwood Pharmaceuticals in a research note on Wednesday, January 17th. They set a “buy” rating and a $21.00 target price for the company. Piper Sandler upped their target price on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Finally, StockNews.com cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, April 6th. One analyst has rated the stock with a hold rating and five have issued 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 target price of $19.80.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ:IRWD opened at $7.82 on Monday. The company has a fifty day moving average of $9.50 and a 200-day moving average of $10.67. The company has a market capitalization of $1.22 billion, a PE ratio of -1.20 and a beta of 0.55. Ironwood Pharmaceuticals, Inc. has a 52-week low of $7.53 and a 52-week high of $15.70.

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.