Insider Selling: Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) CEO Sells 139,064 Shares of Stock

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) CEO Thomas A. Mccourt sold 139,064 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $244,752.64. Following the completion of the transaction, the chief executive officer now owns 1,160,634 shares of the company’s stock, valued at approximately $2,042,715.84. The trade was a 10.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ironwood Pharmaceuticals Price Performance

NASDAQ IRWD traded up $0.06 during trading on Wednesday, reaching $1.94. 3,432,794 shares of the company’s stock were exchanged, compared to its average volume of 3,904,621. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $1.59 and a fifty-two week high of $15.70. The business has a 50 day moving average price of $3.63 and a 200-day moving average price of $4.18. The stock has a market capitalization of $310.46 million, a P/E ratio of -64.67 and a beta of 0.29.

Analysts Set New Price Targets

IRWD has been the subject of a number of analyst reports. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Craig Hallum cut their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, JMP Securities cut their price target on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.67.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. KBC Group NV grew its position in Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock worth $35,000 after buying an additional 3,198 shares in the last quarter. Journey Strategic Wealth LLC acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter worth approximately $45,000. Catalyst Funds Management Pty Ltd acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter worth approximately $47,000. Xponance Inc. acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter worth approximately $50,000. Finally, SG Americas Securities LLC acquired a new stake in Ironwood Pharmaceuticals during the fourth quarter worth approximately $53,000.

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.