Ironwood Pharmaceuticals (NASDAQ:IRWD) Issues Earnings Results, Misses Estimates By $0.08 EPS

Ironwood Pharmaceuticals (NASDAQ:IRWD) released its quarterly earnings data on Thursday. The biotechnology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08), Zacks reports. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business had revenue of $90.55 million during the quarter, compared to analyst estimates of $93.85 million.

Ironwood Pharmaceuticals Price Performance

NASDAQ IRWD opened at $1.61 on Friday. Ironwood Pharmaceuticals has a 1 year low of $1.55 and a 1 year high of $11.00. The company has a market capitalization of $257.65 million, a PE ratio of -53.67 and a beta of 0.29. The company has a fifty day moving average of $3.16 and a two-hundred day moving average of $3.84.

Analysts Set New Price Targets

IRWD has been the topic of a number of recent analyst reports. JMP Securities decreased their price objective on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a report on Thursday, January 30th. Craig Hallum cut their target price on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, StockNews.com lowered Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ironwood Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $8.60.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other news, CEO Thomas A. Mccourt sold 139,064 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $244,752.64. Following the completion of the sale, the chief executive officer now owns 1,160,634 shares in the company, valued at approximately $2,042,715.84. This represents a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Michael Shetzline sold 41,269 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $72,633.44. Following the transaction, the chief marketing officer now directly owns 554,007 shares of the company’s stock, valued at $975,052.32. This represents a 6.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 192,381 shares of company stock worth $338,591 over the last 90 days. Corporate insiders own 12.90% of the company’s stock.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.