Adage Capital Partners GP L.L.C. Buys 3,524,600 Shares of Ironwood Pharmaceuticals, Inc. (IRWD)

Adage Capital Partners GP L.L.C. increased its position in shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) by 185.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,424,600 shares of the company’s stock after buying an additional 3,524,600 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Ironwood Pharmaceuticals were worth $86,143,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new stake in Ironwood Pharmaceuticals during the second quarter worth $241,000. Airain ltd purchased a new stake in Ironwood Pharmaceuticals during the second quarter worth $680,000. Nationwide Fund Advisors raised its stake in Ironwood Pharmaceuticals by 2.7% in the second quarter. Nationwide Fund Advisors now owns 114,066 shares of the company’s stock worth $1,491,000 after buying an additional 3,018 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Ironwood Pharmaceuticals by 2.5% in the second quarter. UBS Asset Management Americas Inc. now owns 74,385 shares of the company’s stock worth $973,000 after buying an additional 1,843 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Ironwood Pharmaceuticals by 8.8% in the second quarter. Teacher Retirement System of Texas now owns 16,971 shares of the company’s stock worth $222,000 after buying an additional 1,375 shares in the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Ironwood Pharmaceuticals (NASDAQ:IRWD)

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) opened at 16.44 on Friday. Ironwood Pharmaceuticals, Inc. has a 52 week low of $8.18 and a 52 week high of $16.89. The firm’s 50 day moving average is $15.25 and its 200-day moving average is $14.79. The company’s market cap is $2.40 billion.

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A number of analysts have recently weighed in on IRWD shares. Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, October 19th. Wedbush increased their target price on shares of Ironwood Pharmaceuticals from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, October 24th. Mizuho increased their target price on shares of Ironwood Pharmaceuticals from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 4th. Finally, Cowen and Company set a $16.00 target price on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, January 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Ironwood Pharmaceuticals currently has an average rating of “Hold” and an average target price of $16.09.

In related news, Director Lawrence S. Olanoff sold 3,200 shares of the company’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $15.68, for a total transaction of $50,176.00. Following the transaction, the director now directly owns 26,105 shares in the company, valued at approximately $409,326.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter M. Hecht sold 65,987 shares of the company’s stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $15.67, for a total transaction of $1,034,016.29. Following the transaction, the chief executive officer now owns 4,703,315 shares in the company, valued at $73,700,946.05. The disclosure for this sale can be found here. Corporate insiders own 7.17% of the company’s stock.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders.

5 Day Chart for NASDAQ:IRWD

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