Brokerages Anticipate Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Will Announce Quarterly Sales of $68.47 Million
Equities research analysts expect that Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) will report $68.47 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ironwood Pharmaceuticals’ earnings. The lowest sales estimate is $66.98 million and the highest is $69.97 million. Ironwood Pharmaceuticals posted sales of $54.35 million during the same quarter last year, which suggests a positive year over year growth rate of 26%. The company is expected to announce its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Ironwood Pharmaceuticals will report full year sales of $68.47 million for the current fiscal year, with estimates ranging from $267.43 million to $291.00 million. For the next year, analysts forecast that the company will post sales of $393.49 million per share, with estimates ranging from $363.36 million to $425.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Monday, May 8th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.19) by $0.14. Ironwood Pharmaceuticals had a negative net margin of 46.49% and a negative return on equity of 195.06%. The firm had revenue of $52.16 million during the quarter, compared to the consensus estimate of $69.39 million. During the same period in the prior year, the business posted ($0.08) earnings per share. Ironwood Pharmaceuticals’s quarterly revenue was down 21.0% compared to the same quarter last year.
Several brokerages have recently issued reports on IRWD. BidaskClub raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday. Wedbush restated a “neutral” rating and issued a $13.00 target price on shares of Ironwood Pharmaceuticals in a research note on Friday, June 16th. Mizuho restated a “buy” rating and issued a $21.00 target price on shares of Ironwood Pharmaceuticals in a research note on Monday, March 13th. BTIG Research restated a “buy” rating and issued a $21.00 target price (up previously from $18.00) on shares of Ironwood Pharmaceuticals in a research note on Monday, March 13th. Finally, Cowen and Company reiterated an “outperform” rating and set a $20.00 price target on shares of Ironwood Pharmaceuticals in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Ironwood Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $18.20.
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In related news, insider Halley E. Gilbert sold 35,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $19.75, for a total transaction of $691,250.00. Following the transaction, the insider now directly owns 35,000 shares of the company’s stock, valued at approximately $691,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas A. Mccourt sold 30,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $18.20, for a total value of $546,000.00. Following the transaction, the insider now directly owns 30,000 shares in the company, valued at $546,000. The disclosure for this sale can be found here. Company insiders own 7.63% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in shares of Ironwood Pharmaceuticals during the fourth quarter worth $436,000. State Street Corp boosted its position in shares of Ironwood Pharmaceuticals by 10.6% in the fourth quarter. State Street Corp now owns 3,791,359 shares of the biotechnology company’s stock worth $57,972,000 after buying an additional 363,423 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the fourth quarter worth $172,000. AQR Capital Management LLC boosted its position in shares of Ironwood Pharmaceuticals by 15.1% in the fourth quarter. AQR Capital Management LLC now owns 46,418 shares of the biotechnology company’s stock worth $710,000 after buying an additional 6,075 shares in the last quarter. Finally, Numeric Investors LLC purchased a new position in shares of Ironwood Pharmaceuticals during the fourth quarter worth $298,000. 98.19% of the stock is currently owned by institutional investors.
Ironwood Pharmaceuticals (NASDAQ IRWD) traded down 1.39% during trading on Friday, hitting $19.16. 255,469 shares of the company traded hands. The firm’s market capitalization is $2.85 billion. Ironwood Pharmaceuticals has a 12-month low of $12.18 and a 12-month high of $19.94. The stock has a 50-day moving average price of $18.20 and a 200-day moving average price of $16.70.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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