Insider Selling: Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) CMO Sells 41,269 Shares of Stock

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) CMO Michael Shetzline sold 41,269 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1.76, for a total value of $72,633.44. Following the completion of the sale, the chief marketing officer now directly owns 554,007 shares of the company’s stock, valued at $975,052.32. The trade was a 6.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ironwood Pharmaceuticals Price Performance

IRWD stock opened at $1.92 on Friday. Ironwood Pharmaceuticals, Inc. has a 12 month low of $1.59 and a 12 month high of $15.65. The firm’s 50-day moving average is $3.57 and its 200 day moving average is $4.15. The company has a market capitalization of $307.25 million, a PE ratio of -64.00 and a beta of 0.29.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of institutional investors have recently modified their holdings of IRWD. KBC Group NV boosted its holdings in shares of Ironwood Pharmaceuticals by 59.3% in the third 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 during the period. Journey Strategic Wealth LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter worth $45,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter worth $47,000. Envestnet Asset Management Inc. bought a new position in shares of Ironwood Pharmaceuticals during the 4th quarter worth $50,000. Finally, Xponance Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the fourth quarter valued at $50,000.

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.