Wells Fargo & Co Reiterates $19.00 Price Target for Ironwood Pharmaceuticals (IRWD)

Wells Fargo & Co set a $19.00 price target on Ironwood Pharmaceuticals (NASDAQ:IRWD) in a report issued on Wednesday. The firm currently has a buy rating on the biotechnology company’s stock.

IRWD has been the topic of a number of other research reports. HC Wainwright set a $13.00 price target on Ironwood Pharmaceuticals and gave the stock a sell rating in a research report on Tuesday, August 7th. ValuEngine downgraded Ironwood Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday. Cowen restated a market perform rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, July 18th. Finally, BidaskClub upgraded Ironwood Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Friday, July 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Ironwood Pharmaceuticals has an average rating of Hold and an average target price of $18.44.

IRWD stock traded up $0.56 during mid-day trading on Wednesday, reaching $14.10. 1,994,588 shares of the company’s stock were exchanged, compared to its average volume of 1,618,412. Ironwood Pharmaceuticals has a 12-month low of $12.89 and a 12-month high of $21.20.

In related news, Director Julie Mchugh sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $19.10, for a total value of $28,650.00. Following the completion of the sale, the director now owns 91,131 shares of the company’s stock, valued at $1,740,602.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark G. Currie sold 130,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $18.45, for a total value of $2,398,500.00. Following the completion of the sale, the insider now directly owns 791,666 shares of the company’s stock, valued at approximately $14,606,237.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 248,339 shares of company stock valued at $4,475,466. Insiders own 7.63% of the company’s stock.

Large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in Ironwood Pharmaceuticals by 3.1% during the second quarter. FMR LLC now owns 18,088,500 shares of the biotechnology company’s stock worth $345,852,000 after acquiring an additional 547,724 shares during the last quarter. OppenheimerFunds Inc. increased its stake in Ironwood Pharmaceuticals by 11.1% during the second quarter. OppenheimerFunds Inc. now owns 2,872,640 shares of the biotechnology company’s stock worth $54,925,000 after acquiring an additional 286,590 shares during the last quarter. Northern Trust Corp increased its stake in Ironwood Pharmaceuticals by 5.1% during the second quarter. Northern Trust Corp now owns 1,641,866 shares of the biotechnology company’s stock worth $31,392,000 after acquiring an additional 80,100 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Ironwood Pharmaceuticals by 1,569.4% during the second quarter. Point72 Asset Management L.P. now owns 1,085,106 shares of the biotechnology company’s stock worth $20,747,000 after acquiring an additional 1,020,106 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Ironwood Pharmaceuticals by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 722,555 shares of the biotechnology company’s stock worth $13,816,000 after acquiring an additional 44,157 shares during the last quarter. 97.19% of the stock is owned by hedge funds and other institutional investors.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.

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