Ironwood Pharmaceuticals, Inc. (IRWD) Expected to Announce Quarterly Sales of $68.04 Million
Brokerages expect Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) to report $68.04 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ironwood Pharmaceuticals’ earnings. The highest sales estimate is $69.31 million and the lowest is $66.77 million. Ironwood Pharmaceuticals posted sales of $66.11 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.9%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Ironwood Pharmaceuticals will report full-year sales of $68.04 million for the current year, with estimates ranging from $256.82 million to $269.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $364.35 million per share, with estimates ranging from $348.22 million to $392.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). The firm had revenue of $65.10 million during the quarter, compared to analyst estimates of $70.00 million. Ironwood Pharmaceuticals had a negative net margin of 52.97% and a negative return on equity of 333.83%. The business’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.16) earnings per share.
A number of equities analysts recently commented on IRWD shares. Zacks Investment Research raised Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, July 17th. BidaskClub raised Ironwood Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Wells Fargo & Company set a $19.00 price objective on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Wood & Company lowered Ironwood Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Friday, July 21st. Finally, Mizuho reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Ironwood Pharmaceuticals in a research note on Sunday, July 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Ironwood Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $18.13.
Shares of Ironwood Pharmaceuticals (IRWD) opened at 15.84 on Friday. The company has a 50 day moving average of $15.49 and a 200-day moving average of $17.03. Ironwood Pharmaceuticals has a 12 month low of $12.48 and a 12 month high of $19.94. The firm’s market capitalization is $2.37 billion.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its stake in Ironwood Pharmaceuticals by 201.9% in the second quarter. Public Employees Retirement System of Ohio now owns 115,375 shares of the biotechnology company’s stock valued at $2,178,000 after buying an additional 77,155 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Ironwood Pharmaceuticals by 5.8% in the second quarter. Ameritas Investment Partners Inc. now owns 11,821 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 648 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Ironwood Pharmaceuticals by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 104,571 shares of the biotechnology company’s stock valued at $1,974,000 after buying an additional 3,681 shares during the period. EcoR1 Capital LLC lifted its stake in Ironwood Pharmaceuticals by 29.2% in the second quarter. EcoR1 Capital LLC now owns 3,753,635 shares of the biotechnology company’s stock valued at $70,869,000 after buying an additional 848,120 shares during the period. Finally, State Street Corp lifted its stake in Ironwood Pharmaceuticals by 13.7% in the second quarter. State Street Corp now owns 4,530,267 shares of the biotechnology company’s stock valued at $85,533,000 after buying an additional 545,464 shares during the period. 97.90% of the stock is currently owned by hedge funds and other institutional investors.
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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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