Ironwood Pharmaceuticals (NASDAQ:IRWD) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Ironwood Pharmaceuticals (NASDAQ:IRWD) issued its earnings results on Thursday, February 15th. The biotechnology company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.04, Bloomberg Earnings reports. Ironwood Pharmaceuticals had a negative return on equity of 2,458.64% and a negative net margin of 39.20%. The firm had revenue of $94.20 million for the quarter, compared to analyst estimates of $88.86 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. Ironwood Pharmaceuticals’s revenue for the quarter was up 7.7% on a year-over-year basis.

Ironwood Pharmaceuticals (NASDAQ IRWD) traded down $0.15 during midday trading on Friday, hitting $14.68. The stock had a trading volume of 791,236 shares, compared to its average volume of 1,554,217. The stock has a market cap of $2,220.87, a PE ratio of -18.35 and a beta of 1.29. The company has a current ratio of 4.87, a quick ratio of 4.86 and a debt-to-equity ratio of -22.31. Ironwood Pharmaceuticals has a fifty-two week low of $12.89 and a fifty-two week high of $19.94.

In related news, CEO Peter M. Hecht sold 113,405 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $15.12, for a total transaction of $1,714,683.60. Following the completion of the transaction, the chief executive officer now directly owns 4,696,917 shares in the company, valued at approximately $71,017,385.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina Consylman sold 3,594 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $14.66, for a total value of $52,688.04. Following the transaction, the chief financial officer now owns 59,125 shares of the company’s stock, valued at $866,772.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,133 shares of company stock valued at $2,743,001. Company insiders own 7.63% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 5.8% in the 2nd 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. Virtu KCG Holdings LLC boosted its stake in shares of Ironwood Pharmaceuticals by 10.3% in the 2nd 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. Oppenheimer & Co. Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 11.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 34,000 shares of the biotechnology company’s stock valued at $536,000 after buying an additional 3,600 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of 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 buying an additional 3,681 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Ironwood Pharmaceuticals by 2.1% in the 2nd quarter. California Public Employees Retirement System now owns 230,200 shares of the biotechnology company’s stock valued at $4,346,000 after buying an additional 4,800 shares during the period.

Several research firms have commented on IRWD. BidaskClub upgraded Ironwood Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Sunday, February 11th. Zacks Investment Research raised Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Bank of America downgraded Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $20.00 to $15.00 in a research note on Friday, January 5th. ValuEngine downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Finally, Mizuho downgraded Ironwood Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $16.00 in a research note on Wednesday, December 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $17.75.

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Ironwood Pharmaceuticals Company Profile

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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