Wall Street analysts expect that Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) will post sales of $92.91 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Ironwood Pharmaceuticals’ earnings, with the highest sales estimate coming in at $95.81 million and the lowest estimate coming in at $88.22 million. Ironwood Pharmaceuticals posted sales of $86.83 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7%. The company is expected to issue its next earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Ironwood Pharmaceuticals will report full-year sales of $340.47 million for the current fiscal year, with estimates ranging from $327.43 million to $349.78 million. For the next year, analysts anticipate that the business will post sales of $440.96 million per share, with estimates ranging from $392.49 million to $530.18 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Monday, August 6th. The biotechnology company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.09). The business had revenue of $81.10 million during the quarter, compared to analyst estimates of $82.61 million. Ironwood Pharmaceuticals had a negative return on equity of 2,073.20% and a negative net margin of 34.03%. Ironwood Pharmaceuticals’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.28) EPS.
Several brokerages have weighed in on IRWD. BidaskClub downgraded Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, April 18th. Morgan Stanley reissued an “underweight” rating and issued a $13.00 price target on shares of Ironwood Pharmaceuticals in a report on Wednesday, May 9th. ValuEngine raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Barclays lifted their target price on Ironwood Pharmaceuticals from $16.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $19.11.
Ironwood Pharmaceuticals traded down $0.39, hitting $18.82, during trading on Tuesday, according to MarketBeat. The company’s stock had a trading volume of 703,541 shares, compared to its average volume of 1,008,305. The company has a debt-to-equity ratio of -8.64, a quick ratio of 4.40 and a current ratio of 2.94. The company has a market cap of $2.94 billion, a PE ratio of -20.24 and a beta of 0.81. Ironwood Pharmaceuticals has a fifty-two week low of $12.89 and a fifty-two week high of $21.20.
In related news, insider Thomas A. Mccourt sold 30,000 shares of Ironwood Pharmaceuticals stock in a transaction dated Friday, July 6th. The stock was sold at an average price of $20.00, for a total transaction of $600,000.00. Following the completion of the sale, the insider now owns 30,000 shares of the company’s stock, valued at $600,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Halley E. Gilbert sold 29,551 shares of Ironwood Pharmaceuticals stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $19.75, for a total value of $583,632.25. Following the sale, the insider now directly owns 29,551 shares of the company’s stock, valued at approximately $583,632.25. The disclosure for this sale can be found here. Insiders have sold 61,051 shares of company stock valued at $1,210,062 in the last ninety days. Corporate insiders own 7.63% of the company’s stock.
Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Ironwood Pharmaceuticals in the first quarter valued at approximately $138,000. Meeder Asset Management Inc. acquired a new position in Ironwood Pharmaceuticals in the second quarter valued at approximately $186,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the first quarter valued at approximately $180,000. A.R.T. Advisors LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the first quarter valued at approximately $208,000. Finally, V Wealth Management LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the second quarter valued at approximately $258,000.
Ironwood Pharmaceuticals Company Profile
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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