$68.04 Million in Sales Expected for Ironwood Pharmaceuticals, Inc. (IRWD) This Quarter
Wall Street analysts predict that Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) will announce sales of $68.04 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ironwood Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $66.77 million and the highest estimate coming in at $69.31 million. Ironwood Pharmaceuticals posted sales of $66.11 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The firm is scheduled to report its next earnings results before the market opens on Thursday, November 2nd.
On average, analysts expect that Ironwood Pharmaceuticals will report full year sales of $68.04 million for the current fiscal year, with estimates ranging from $256.82 million to $269.00 million. For the next financial year, analysts expect that the firm 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 analysts that cover Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.05). The company had revenue of $65.10 million for the quarter, compared to analyst estimates of $70.00 million. Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. The business’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm posted ($0.16) earnings per share.
A number of analysts have issued reports on IRWD shares. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $19.00 target price (down previously from $20.00) on shares of Ironwood Pharmaceuticals in a report on Friday, July 21st. BidaskClub downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company set a $20.00 target price on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, August 21st. Zacks Investment Research upgraded Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Mizuho raised their target price on Ironwood Pharmaceuticals from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $18.29.
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Ironwood Pharmaceuticals (IRWD) traded down 4.03% during trading on Wednesday, reaching $14.76. The company had a trading volume of 458,745 shares. Ironwood Pharmaceuticals has a 12 month low of $12.65 and a 12 month high of $19.94. The company’s market capitalization is $2.21 billion. The stock has a 50 day moving average of $15.68 and a 200-day moving average of $16.73.
A number of institutional investors and hedge funds have recently modified their holdings of IRWD. Janus Henderson Group PLC bought a new position in Ironwood Pharmaceuticals in the 2nd quarter valued at $150,460,000. EcoR1 Capital LLC increased its stake in shares of Ironwood Pharmaceuticals by 29.2% in the 2nd 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. Pictet Asset Management Ltd. increased its stake in shares of Ironwood Pharmaceuticals by 37.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,622,507 shares of the biotechnology company’s stock valued at $41,357,000 after buying an additional 715,147 shares during the period. Penn Capital Management Co. Inc. increased its stake in shares of Ironwood Pharmaceuticals by 258.4% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 855,314 shares of the biotechnology company’s stock valued at $16,261,000 after buying an additional 616,686 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Ironwood Pharmaceuticals by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,505,461 shares of the biotechnology company’s stock valued at $179,223,000 after buying an additional 562,179 shares during the period. Hedge funds and other institutional investors own 97.88% of the company’s stock.
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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