Ironwood Pharmaceuticals, Inc. (IRWD) Releases Earnings Results, Beats Expectations By $0.07 EPS
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) issued its earnings results on Wednesday. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.07, Bloomberg Earnings reports. The company had revenue of $86.80 million for the quarter, compared to analysts’ expectations of $73.59 million. Ironwood Pharmaceuticals had a negative net margin of 52.97% and a negative return on equity of 333.83%. Ironwood Pharmaceuticals’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) EPS.
IRWD has been the topic of a number of research analyst reports. BidaskClub raised shares of Ironwood Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, July 17th. Wells Fargo & Company set a $19.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, July 22nd. Wood & Company lowered shares of Ironwood Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Friday, July 21st. Finally, ValuEngine upgraded shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $18.29.
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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