FY2021 EPS Estimates for Ironwood Pharmaceuticals, Inc. Reduced by Analyst (IRWD)
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) – Research analysts at Wedbush lowered their FY2021 EPS estimates for shares of Ironwood Pharmaceuticals in a report released on Friday. Wedbush analyst D. Nierengarten now expects that the biotechnology company will post earnings of $0.88 per share for the year, down from their prior forecast of $1.05. Wedbush has a “Neutral” rating and a $13.00 price objective on the stock.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by $0.05. Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. The firm had revenue of $65.10 million for the quarter, compared to the consensus estimate of $70 million. During the same quarter in the previous year, the business posted ($0.16) EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year.
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Several other analysts have also issued reports on the company. Cowen and Company set a $20.00 target price on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday. Mizuho reaffirmed a “buy” rating and issued a $23.00 target price (up previously from $22.00) on shares of Ironwood Pharmaceuticals in a research note on Wednesday, August 2nd. BidaskClub lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. ValuEngine lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Wells Fargo & Company set a $19.00 target price on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Ironwood Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $18.00.
Hedge funds have recently added to or reduced their stakes in the stock. Karp Capital Management Corp acquired a new stake in shares of Ironwood Pharmaceuticals during the first quarter worth approximately $201,000. UBS Asset Management Americas Inc. raised its stake in shares of Ironwood Pharmaceuticals by 2,537.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,342,763 shares of the biotechnology company’s stock worth $22,908,000 after buying an additional 1,291,848 shares during the last quarter. Swiss National Bank raised its stake in shares of Ironwood Pharmaceuticals by 1.2% in the first quarter. Swiss National Bank now owns 205,300 shares of the biotechnology company’s stock worth $3,502,000 after buying an additional 2,400 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Ironwood Pharmaceuticals by 68.3% in the first quarter. Pictet Asset Management Ltd. now owns 1,631,192 shares of the biotechnology company’s stock worth $27,828,000 after buying an additional 661,868 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Ironwood Pharmaceuticals during the first quarter worth approximately $1,879,000. 98.16% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Thomas A. Mccourt sold 30,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $18.20, for a total transaction of $546,000.00. Following the completion of the sale, the insider now owns 30,000 shares of the company’s stock, valued at $546,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Halley E. Gilbert sold 35,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $19.75, for a total value of $691,250.00. Following the sale, the insider now directly owns 35,000 shares of the company’s stock, valued at approximately $691,250. The disclosure for this sale can be found here. Corporate insiders own 7.63% of the company’s stock.
Ironwood Pharmaceuticals Company Profile
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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