Analysts expect Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) to post earnings per share of $0.10 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Ironwood Pharmaceuticals’ earnings, with the highest EPS estimate coming in at $0.12 and the lowest estimate coming in at $0.08. Ironwood Pharmaceuticals posted earnings of ($0.38) per share during the same quarter last year, which would indicate a positive year over year growth rate of 126.3%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, October 31st.
According to Zacks, analysts expect that Ironwood Pharmaceuticals will report full-year earnings of ($0.04) per share for the current financial year, with EPS estimates ranging from ($0.07) to $0.01. For the next financial year, analysts expect that the business will report earnings of $0.55 per share, with EPS estimates ranging from $0.18 to $1.08. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Tuesday, July 30th. The biotechnology company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.15. The firm had revenue of $102.22 million for the quarter, compared to analysts’ expectations of $89.28 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. The firm’s quarterly revenue was up 26.0% on a year-over-year basis.
Several equities analysts have commented on the stock. Cowen set a $12.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “hold” rating in a research note on Friday, September 13th. ValuEngine upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Wedbush increased their price target on shares of Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Credit Suisse Group reiterated a “neutral” rating on shares of Ironwood Pharmaceuticals in a research note on Wednesday, July 10th. Finally, HC Wainwright set a $13.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “hold” rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.86.
Shares of IRWD stock traded up $0.13 during trading hours on Tuesday, reaching $9.01. 565,709 shares of the stock were exchanged, compared to its average volume of 1,591,113. The business’s fifty day moving average is $8.98 and its two-hundred day moving average is $10.24. Ironwood Pharmaceuticals has a 12-month low of $7.91 and a 12-month high of $17.11. The firm has a market capitalization of $1.37 billion, a P/E ratio of -9.48 and a beta of 1.79.
In other news, President Thomas A. Mccourt sold 220,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $9.24, for a total value of $2,032,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Halley E. Gilbert sold 20,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $10.00, for a total value of $200,000.00. The disclosure for this sale can be found here. Insiders sold 240,212 shares of company stock worth $2,234,716 over the last quarter. 5.90% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of IRWD. Brown Capital Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 19.4% in the second quarter. Brown Capital Management LLC now owns 12,329,890 shares of the biotechnology company’s stock valued at $134,889,000 after acquiring an additional 2,003,252 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the second quarter valued at approximately $13,487,000. Nuveen Asset Management LLC acquired a new stake in shares of Ironwood Pharmaceuticals in the second quarter valued at approximately $10,126,000. Janus Henderson Group PLC boosted its holdings in shares of Ironwood Pharmaceuticals by 12.8% in the second quarter. Janus Henderson Group PLC now owns 7,505,293 shares of the biotechnology company’s stock valued at $82,108,000 after acquiring an additional 852,356 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Ironwood Pharmaceuticals by 4.5% in the second quarter. Vanguard Group Inc. now owns 15,606,157 shares of the biotechnology company’s stock valued at $170,730,000 after acquiring an additional 664,893 shares during the period.
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; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.
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