Equities research analysts expect Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) to post $86.24 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Ironwood Pharmaceuticals’ earnings. The highest sales estimate is $92.09 million and the lowest is $79.00 million. Ironwood Pharmaceuticals reported sales of $87.46 million in the same quarter last year, which indicates a negative year over year growth rate of 1.4%. The company is scheduled to announce its next earnings results before the market opens on Thursday, February 15th.
According to Zacks, analysts expect that Ironwood Pharmaceuticals will report full year sales of $86.24 million for the current financial year, with estimates ranging from $263.93 million to $303.00 million. For the next fiscal year, analysts expect that the business will report sales of $381.48 million per share, with estimates ranging from $365.11 million to $413.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Ironwood Pharmaceuticals.
IRWD has been the topic of a number of recent analyst reports. BidaskClub lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. Morgan Stanley reaffirmed a “hold” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, December 4th. Bank of America lowered Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and cut their target price for the stock from $20.00 to $15.00 in a research report on Friday, January 5th. Zacks Investment Research lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, ValuEngine lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $17.56.
In related news, insider Mark G. Currie sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $15.45, for a total transaction of $927,000.00. Following the transaction, the insider now directly owns 835,000 shares of the company’s stock, valued at $12,900,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter M. Hecht sold 113,405 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $15.12, for a total value of $1,714,683.60. Following the transaction, the chief executive officer now directly owns 4,696,917 shares in the company, valued at $71,017,385.04. The disclosure for this sale can be found here. Insiders have sold 174,905 shares of company stock worth $2,666,359 over the last three months. 7.63% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of IRWD. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Ironwood Pharmaceuticals by 128.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,010 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 5,069 shares during the period. Gerber Kawasaki Wealth & Investment Management acquired a new position in Ironwood Pharmaceuticals during the third quarter valued at $170,000. Hemenway Trust Co LLC acquired a new position in Ironwood Pharmaceuticals during the fourth quarter valued at $204,000. Ameritas Investment Partners Inc. raised its position in Ironwood Pharmaceuticals by 5.8% during 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. Finally, Virtu KCG Holdings LLC raised its position in Ironwood Pharmaceuticals by 10.3% during the second quarter. Virtu KCG Holdings LLC now owns 15,740 shares of the biotechnology company’s stock valued at $297,000 after buying an additional 1,470 shares during the period.
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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