Ironwood Pharmaceuticals Stock Price Down 7.7% Following Weak Earnings (IRWD)
Ironwood Pharmaceuticals (NASDAQ:IRWD) was down 7.7% during mid-day trading on Tuesday following a weaker than expected earnings announcement, Analyst Ratings Network reports. The company traded as low as $12.96 and last traded at $13.70, with a volume of 2,677,736 shares. The stock had previously closed at $14.85.
The company reported ($0.38) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.36) by $0.02. The company had revenue of $6.84 million for the quarter, compared to the consensus estimate of $15.75 million. During the same quarter last year, the company posted ($0.57) earnings per share. Ironwood Pharmaceuticals’s revenue was down 29.9% compared to the same quarter last year.
A number of research firms have recently commented on IRWD. Analysts at Furey Research Partners initiated coverage on shares of Ironwood Pharmaceuticals in a research note on Wednesday, July 9th. They set a “buy” rating and a $20.00 price target on the stock. Separately, analysts at Mizuho raised their price target on shares of Ironwood Pharmaceuticals from $17.00 to $19.00 in a research note on Wednesday, June 25th. They now have a “buy” rating on the stock. Finally, analysts at WallachBeth Capital initiated coverage on shares of Ironwood Pharmaceuticals in a research note on Wednesday, June 18th. They set a “hold” rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $15.30.
The stock’s 50-day moving average is $14.87 and its 200-day moving average is $13.55. The company’s market cap is $1.861 billion.
Ironwood Pharmaceuticals, Inc is a pharmaceutical company, which discovers, develops and intends to commercialize differentiated medicines.
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