LSV Asset Management Lowers Stock Holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

LSV Asset Management lessened its holdings in Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 5.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,782,101 shares of the biotechnology company’s stock after selling 382,108 shares during the period. LSV Asset Management owned 4.34% of Ironwood Pharmaceuticals worth $77,587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of IRWD. Vanguard Group Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 0.3% in the third quarter. Vanguard Group Inc. now owns 14,895,700 shares of the biotechnology company’s stock worth $143,446,000 after buying an additional 49,160 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Ironwood Pharmaceuticals by 17.9% in the third quarter. Victory Capital Management Inc. now owns 4,406,732 shares of the biotechnology company’s stock worth $42,437,000 after purchasing an additional 668,694 shares during the last quarter. Armistice Capital LLC purchased a new position in Ironwood Pharmaceuticals in the 3rd quarter worth about $33,281,000. Adage Capital Partners GP L.L.C. lifted its holdings in Ironwood Pharmaceuticals by 160.9% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,462,300 shares of the biotechnology company’s stock valued at $23,712,000 after buying an additional 1,518,500 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Ironwood Pharmaceuticals in the 3rd quarter valued at about $22,903,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Craig Hallum assumed coverage on Ironwood Pharmaceuticals in a report on Wednesday, January 17th. They issued a “buy” rating and a $21.00 target price for the company. StockNews.com downgraded Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. Finally, Piper Sandler lifted their price objective on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.80.

Ironwood Pharmaceuticals Price Performance

IRWD traded down $0.18 on Friday, hitting $8.12. The company had a trading volume of 1,863,557 shares, compared to its average volume of 2,528,026. The stock has a fifty day moving average price of $8.82 and a 200-day moving average price of $10.61. Ironwood Pharmaceuticals, Inc. has a 12-month low of $7.53 and a 12-month high of $15.70.

Insider Activity

In related news, CEO Thomas A. Mccourt sold 177,164 shares of the 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 completion of the sale, 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 is available at this hyperlink. In related news, CEO Thomas A. Mccourt sold 177,164 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $2,699,979.36. Following the transaction, the chief executive officer now directly owns 832,774 shares of the company’s stock, valued at approximately $12,691,475.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Minardo John sold 47,380 shares of the business’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 $722,071.20. Following the sale, the insider now owns 224,796 shares in the company, valued at approximately $3,425,891.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,008 shares of company stock worth $4,160,642. Corporate insiders own 13.10% of the company’s stock.

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.