Russell Investments Group Ltd. lowered its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,417 shares of the biotechnology company’s stock after selling 7,684 shares during the quarter. Russell Investments Group Ltd. owned 0.05% of Ironwood Pharmaceuticals worth $1,446,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in IRWD. Point72 Asset Management L.P. increased its stake in shares of Ironwood Pharmaceuticals by 1,569.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,085,106 shares of the biotechnology company’s stock valued at $20,747,000 after acquiring an additional 1,020,106 shares in the last quarter. FMR LLC increased its stake in shares of Ironwood Pharmaceuticals by 3.1% in the 2nd quarter. FMR LLC now owns 18,088,500 shares of the biotechnology company’s stock valued at $345,852,000 after acquiring an additional 547,724 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Ironwood Pharmaceuticals by 11.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,872,640 shares of the biotechnology company’s stock valued at $54,925,000 after acquiring an additional 286,590 shares in the last quarter. First Republic Investment Management Inc. grew its position in Ironwood Pharmaceuticals by 646.5% in the 2nd quarter. First Republic Investment Management Inc. now owns 187,052 shares of the biotechnology company’s stock valued at $3,576,000 after purchasing an additional 161,994 shares during the period. Finally, Royal London Asset Management Ltd. acquired a new stake in Ironwood Pharmaceuticals in the 2nd quarter valued at $2,659,000. Institutional investors own 94.08% of the company’s stock.
NASDAQ IRWD opened at $12.31 on Friday. Ironwood Pharmaceuticals, Inc. has a 12-month low of $11.02 and a 12-month high of $21.20. The firm has a market capitalization of $1.95 billion, a P/E ratio of -13.24 and a beta of 1.27.
Several analysts recently issued reports on the stock. Mizuho reduced their price target on shares of Ironwood Pharmaceuticals to $15.00 and set a “buy” rating for the company in a research report on Monday, November 19th. Wedbush reissued a “neutral” rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, November 7th. Morgan Stanley set a $11.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “sell” rating in a research report on Wednesday, November 7th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $11.00 price target (down previously from $20.00) on shares of Ironwood Pharmaceuticals in a research report on Wednesday, November 7th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $19.00 price target (down previously from $22.00) on shares of Ironwood Pharmaceuticals in a research report on Wednesday, November 7th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Ironwood Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $16.45.
In other Ironwood Pharmaceuticals news, insider Mark G. Currie sold 116,651 shares of Ironwood Pharmaceuticals stock in a transaction on Friday, October 5th. The shares were sold at an average price of $17.53, for a total transaction of $2,044,892.03. Following the transaction, the insider now directly owns 70,680 shares of the company’s stock, valued at approximately $1,239,020.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.63% of the stock is owned by insiders.
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About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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