Equities analysts forecast that Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) will report $93.85 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Ironwood Pharmaceuticals’ earnings, with estimates ranging from $89.50 million to $99.90 million. Ironwood Pharmaceuticals posted sales of $94.21 million during the same quarter last year, which suggests a negative year over year growth rate of 0.4%. The firm is expected to announce its next quarterly earnings results on Thursday, February 21st.
On average, analysts expect that Ironwood Pharmaceuticals will report full year sales of $315.28 million for the current year, with estimates ranging from $305.40 million to $342.30 million. For the next financial year, analysts forecast that the firm will post sales of $393.59 million, with estimates ranging from $341.31 million to $474.70 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 issued its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.24). The firm had revenue of $68.69 million for the quarter, compared to analysts’ expectations of $93.48 million. During the same quarter last year, the company earned ($0.18) EPS. The business’s revenue was down 20.9% on a year-over-year basis.
Several research analysts have recently issued reports on IRWD shares. Wells Fargo & Co set a $19.00 target price on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, October 31st. Wedbush restated a “neutral” rating on shares of Ironwood Pharmaceuticals in a report on Wednesday, November 7th. Morgan Stanley set a $11.00 target price on shares of Ironwood Pharmaceuticals and gave the stock a “sell” rating in a report on Wednesday, November 7th. BTIG Research set a $17.00 target price on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, November 7th. Finally, ValuEngine cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.45.
Shares of Ironwood Pharmaceuticals stock opened at $13.62 on Friday. Ironwood Pharmaceuticals has a 52-week low of $11.02 and a 52-week high of $21.20. The company has a market capitalization of $2.01 billion, a PE ratio of -14.65 and a beta of 1.33.
In related news, Director Julie Mchugh sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $19.10, for a total value of $28,650.00. Following the completion of the sale, the director now owns 91,131 shares of the company’s stock, valued at $1,740,602.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark G. Currie sold 116,651 shares of the firm’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $17.53, for a total value of $2,044,892.03. Following the completion of the sale, the insider now directly owns 70,680 shares of the company’s stock, valued at approximately $1,239,020.40. The disclosure for this sale can be found here. Insiders sold 119,509 shares of company stock valued at $2,089,580 in the last ninety days. 7.63% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in IRWD. Pacer Advisors Inc. purchased a new stake in Ironwood Pharmaceuticals in the third quarter worth $177,000. Meeder Asset Management Inc. purchased a new position in Ironwood Pharmaceuticals during the second quarter valued at $186,000. Campbell & CO Investment Adviser LLC purchased a new position in Ironwood Pharmaceuticals during the third quarter valued at $249,000. PNC Financial Services Group Inc. lifted its position in Ironwood Pharmaceuticals by 17,621.9% during the second quarter. PNC Financial Services Group Inc. now owns 17,013 shares of the biotechnology company’s stock valued at $325,000 after buying an additional 16,917 shares during the period. Finally, Aperio Group LLC lifted its position in Ironwood Pharmaceuticals by 34.2% during the second quarter. Aperio Group LLC now owns 21,185 shares of the biotechnology company’s stock valued at $405,000 after buying an additional 5,404 shares during the period. 95.84% of the stock is owned by institutional investors.
Ironwood Pharmaceuticals Company Profile
Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.
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