Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,721 shares of the biotechnology company’s stock after purchasing an additional 5,318 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ironwood Pharmaceuticals were worth $374,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Walleye Capital LLC acquired a new position in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at $1,608,000. Illinois Municipal Retirement Fund acquired a new position in Ironwood Pharmaceuticals in the third quarter valued at $743,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the third quarter worth about $22,903,000. Vanguard Group Inc. increased its position in shares of Ironwood Pharmaceuticals by 0.3% during the third quarter. Vanguard Group Inc. now owns 14,895,700 shares of the biotechnology company’s stock worth $143,446,000 after purchasing an additional 49,160 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Ironwood Pharmaceuticals by 95.8% in the 3rd quarter. Quantbot Technologies LP now owns 69,500 shares of the biotechnology company’s stock valued at $669,000 after purchasing an additional 34,000 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. 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 assumed coverage on Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They issued a “buy” rating and a $21.00 price target on the stock. 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 report on Friday, February 16th. Finally, Wells Fargo & Company dropped their target price on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ironwood Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $19.80.

Ironwood Pharmaceuticals Stock Performance

Ironwood Pharmaceuticals stock opened at $8.12 on Friday. The company has a market cap of $1.27 billion, a P/E ratio of -1.25 and a beta of 0.57. Ironwood Pharmaceuticals, Inc. has a one year low of $7.53 and a one year high of $15.70. The business has a fifty day moving average of $8.82 and a two-hundred day moving average of $10.61.

Insider Buying and Selling

In related news, CEO Thomas A. Mccourt sold 177,164 shares of Ironwood Pharmaceuticals stock in a transaction on 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 transaction, the chief executive officer now directly owns 832,774 shares of the company’s stock, valued at $12,691,475.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Thomas A. Mccourt sold 177,164 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $2,699,979.36. Following the completion of the transaction, the chief executive officer now owns 832,774 shares in the company, valued at $12,691,475.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Minardo John sold 47,380 shares of Ironwood Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $722,071.20. Following the transaction, the insider now owns 224,796 shares of the company’s stock, valued at approximately $3,425,891.04. The disclosure for this sale can be found here. Insiders have sold a total of 273,008 shares of company stock worth $4,160,642 in the last quarter. Company insiders own 13.10% of the company’s stock.

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.