Old West Investment Management LLC Buys 9,995 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Old West Investment Management LLC grew its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 17.7% during the second quarter, HoldingsChannel reports. The firm owned 66,452 shares of the biotechnology company’s stock after buying an additional 9,995 shares during the quarter. Old West Investment Management LLC’s holdings in Ironwood Pharmaceuticals were worth $433,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IRWD. Texas Permanent School Fund Corp boosted its position in Ironwood Pharmaceuticals by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 120,245 shares of the biotechnology company’s stock valued at $1,047,000 after buying an additional 1,557 shares in the last quarter. CWM LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 55.1% during the 2nd quarter. CWM LLC now owns 6,600 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 2,345 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Ironwood Pharmaceuticals by 3.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 70,400 shares of the biotechnology company’s stock worth $459,000 after acquiring an additional 2,400 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in Ironwood Pharmaceuticals by 3.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 72,030 shares of the biotechnology company’s stock worth $470,000 after purchasing an additional 2,491 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Ironwood Pharmaceuticals by 0.7% in the second quarter. Rhumbline Advisers now owns 365,701 shares of the biotechnology company’s stock valued at $2,384,000 after purchasing an additional 2,577 shares during the last quarter.

Ironwood Pharmaceuticals Stock Down 2.2 %

Shares of NASDAQ IRWD opened at $4.47 on Tuesday. The company has a market capitalization of $714.04 million, a PE ratio of -0.66 and a beta of 0.49. Ironwood Pharmaceuticals, Inc. has a twelve month low of $3.79 and a twelve month high of $15.70. The firm has a fifty day simple moving average of $5.50 and a 200 day simple moving average of $6.73.

Insider Transactions at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 9,910 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $4.27, for a total transaction of $42,315.70. Following the sale, the insider now owns 284,661 shares in the company, valued at approximately $1,215,502.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.90% of the company’s stock.

Analysts Set New Price Targets

IRWD has been the topic of several research reports. Capital One Financial cut Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $12.00 to $4.00 in a report on Thursday, August 8th. Leerink Partners began coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They set a “market perform” rating and a $5.00 target price on the stock. StockNews.com raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 16th. Craig Hallum cut their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Leerink Partnrs upgraded Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Ironwood Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $13.57.

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.