Ironwood Pharmaceuticals (IRWD) Posts Quarterly Earnings Results

Ironwood Pharmaceuticals (NASDAQ:IRWD) issued its earnings results on Thursday. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.04, Briefing.com reports. The company had revenue of $94.20 million for the quarter, compared to analyst estimates of $88.86 million. Ironwood Pharmaceuticals had a negative net margin of 48.89% and a negative return on equity of 645.22%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS.

Ironwood Pharmaceuticals (NASDAQ IRWD) traded up $0.51 during trading on Thursday, hitting $14.49. 1,275,100 shares of the company traded hands, compared to its average volume of 1,835,074. Ironwood Pharmaceuticals has a 1-year low of $12.89 and a 1-year high of $19.94. The company has a quick ratio of 4.86, a current ratio of 4.87 and a debt-to-equity ratio of -22.31. The stock has a market cap of $2,170.00, a price-to-earnings ratio of -15.09 and a beta of 1.28.

Several brokerages have commented on IRWD. Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. BidaskClub upgraded shares of Ironwood Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Sunday. Credit Suisse Group started coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, November 27th. They issued a “buy” rating and a $19.00 price objective on the stock. ValuEngine lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, Mizuho lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $16.00 in a research report on Wednesday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Ironwood Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $17.56.

In related news, CEO Peter M. Hecht sold 113,405 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 4,696,917 shares of the company’s stock, valued at approximately $71,017,385.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark G. Currie sold 60,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $15.45, for a total transaction of $927,000.00. Following the completion of the transaction, the insider now directly owns 835,000 shares of the company’s stock, valued at approximately $12,900,750. The disclosure for this sale can be found here. Insiders sold a total of 174,905 shares of company stock worth $2,666,359 over the last quarter. Insiders own 7.63% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. acquired a new position in Ironwood Pharmaceuticals in the 2nd quarter valued at about $1,472,000. Granahan Investment Management Inc. MA raised its stake in Ironwood Pharmaceuticals by 24.5% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 436,000 shares of the biotechnology company’s stock valued at $6,876,000 after purchasing an additional 85,904 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Ironwood Pharmaceuticals by 40.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 143,082 shares of the biotechnology company’s stock valued at $2,256,000 after purchasing an additional 41,406 shares during the last quarter. Sawyer & Company Inc acquired a new position in Ironwood Pharmaceuticals in the 4th quarter valued at about $615,000. Finally, The Manufacturers Life Insurance Company raised its stake in Ironwood Pharmaceuticals by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 104,571 shares of the biotechnology company’s stock valued at $1,974,000 after purchasing an additional 3,681 shares during the last quarter.

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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.

Earnings History for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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