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 the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $244,752.64. Following the completion of the sale, the chief executive officer now directly owns 1,160,634 shares of the company’s stock, valued at $2,042,715.84. The trade was a 10.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ironwood Pharmaceuticals Stock Performance

Ironwood Pharmaceuticals stock traded up $0.06 during trading hours on Wednesday, reaching $1.94. 3,432,794 shares of the stock were exchanged, compared to its average volume of 3,904,621. The stock has a market cap of $310.46 million, a P/E ratio of -64.67 and a beta of 0.29. Ironwood Pharmaceuticals, Inc. has a 52-week low of $1.59 and a 52-week high of $15.70. The firm’s 50 day moving average is $3.63 and its 200 day moving average is $4.18.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of large investors have recently bought and sold shares of IRWD. KBC Group NV increased its holdings in shares of Ironwood Pharmaceuticals by 59.3% in the 3rd quarter. KBC Group NV now owns 8,593 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 3,198 shares in the last quarter. Journey Strategic Wealth LLC purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at about $45,000. Catalyst Funds Management Pty Ltd purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at about $47,000. Xponance Inc. purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at about $50,000. Finally, SG Americas Securities LLC purchased a new position in shares of Ironwood Pharmaceuticals in the 4th quarter valued at about $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.