Zurcher Kantonalbank Zurich Cantonalbank Buys 5,318 Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 19.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,721 shares of the biotechnology company’s stock after buying an additional 5,318 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ironwood Pharmaceuticals were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IRWD. Louisiana State Employees Retirement System purchased a new position in Ironwood Pharmaceuticals in the fourth quarter worth about $786,000. Allspring Global Investments Holdings LLC raised its holdings in Ironwood Pharmaceuticals by 645.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 48,616 shares of the biotechnology company’s stock worth $556,000 after acquiring an additional 42,091 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Ironwood Pharmaceuticals by 351.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,061 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 14,064 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Ironwood Pharmaceuticals by 10.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,330 shares of the biotechnology company’s stock valued at $175,000 after purchasing an additional 1,483 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter worth $862,000.

Analysts Set New Price Targets

IRWD has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price objective on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st. Piper Sandler increased their price objective on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Craig Hallum assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They issued a “buy” rating and a $21.00 target price for the company. Finally, StockNews.com cut Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, April 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.80.

Ironwood Pharmaceuticals Price Performance

Shares of Ironwood Pharmaceuticals stock opened at $8.12 on Friday. Ironwood Pharmaceuticals, Inc. has a 1-year low of $7.53 and a 1-year high of $15.70. The company’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $10.61. The stock has a market capitalization of $1.27 billion, a PE ratio of -1.25 and a beta of 0.57.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, CEO Thomas A. Mccourt sold 177,164 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 832,774 shares of the company’s stock, valued at $12,691,475.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 177,164 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $15.24, for a total transaction of $2,699,979.36. Following the sale, the chief executive officer now owns 832,774 shares in the company, valued at approximately $12,691,475.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Michael Shetzline sold 38,618 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $588,538.32. Following the completion of the transaction, the chief marketing officer now owns 340,484 shares of the company’s stock, valued at $5,188,976.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,008 shares of company stock valued at $4,160,642. Company insiders own 13.10% of the company’s stock.

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.