CIBC Asset Management Inc Takes $53,000 Position in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

CIBC Asset Management Inc acquired a new stake in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) during the 4th quarter, Holdings Channel.com reports. The firm acquired 12,054 shares of the biotechnology company’s stock, valued at approximately $53,000.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV lifted 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 during the period. Journey Strategic Wealth LLC purchased a new position in Ironwood Pharmaceuticals during the fourth quarter worth about $45,000. Wolverine Trading LLC purchased a new position in Ironwood Pharmaceuticals during the third quarter worth about $51,000. SG Americas Securities LLC purchased a new position in Ironwood Pharmaceuticals during the fourth quarter worth about $53,000. Finally, Virtu Financial LLC purchased a new position in Ironwood Pharmaceuticals during the third quarter worth about $78,000.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JMP Securities reduced their target price on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 30th. Craig Hallum dropped their price target on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Finally, StockNews.com lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Ironwood Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $8.60.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 139,064 shares of the 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 transaction, the chief executive officer now owns 1,160,634 shares of the company’s stock, valued at $2,042,715.84. This trade represents a 10.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Michael Shetzline sold 41,269 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $72,633.44. Following the transaction, the chief marketing officer now directly owns 554,007 shares in the company, valued at approximately $975,052.32. This represents a 6.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,381 shares of company stock worth $338,591 in the last 90 days. 12.90% of the stock is owned by corporate insiders.

Ironwood Pharmaceuticals Stock Down 1.4 %

Shares of NASDAQ IRWD opened at $1.71 on Thursday. Ironwood Pharmaceuticals, Inc. has a fifty-two week low of $1.59 and a fifty-two week high of $15.26. The business has a 50 day moving average price of $3.26 and a two-hundred day moving average price of $3.87. The firm has a market cap of $273.65 million, a PE ratio of -57.00 and a beta of 0.29.

About Ironwood Pharmaceuticals

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.