Equities analysts expect that Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) will report ($0.20) earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Ironwood Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.19) and the lowest estimate coming in at ($0.22). Ironwood Pharmaceuticals posted earnings of ($0.28) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 28.6%. The firm is expected to announce its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that Ironwood Pharmaceuticals will report full year earnings of ($0.72) per share for the current year, with EPS estimates ranging from ($0.81) to ($0.67). For the next fiscal year, analysts expect that the business will post earnings of ($0.05) per share, with EPS estimates ranging from ($0.42) to $0.41. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Tuesday, May 1st. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). Ironwood Pharmaceuticals had a negative return on equity of 2,073.20% and a negative net margin of 34.12%. The firm had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $78.65 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The firm’s revenue was up 32.6% compared to the same quarter last year.
A number of research analysts recently issued reports on IRWD shares. Wells Fargo & Co set a $22.00 price target on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, May 30th. BidaskClub upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th. Berenberg Bank assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Thursday, April 19th. They set a “buy” rating and a $25.00 price objective for the company. Mizuho upgraded shares of Ironwood Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $16.00 to $24.00 in a research report on Wednesday, May 2nd. Finally, ValuEngine upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.44.
In other news, Director Julie Mchugh sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $17.62, for a total transaction of $26,430.00. Following the completion of the sale, the director now owns 92,631 shares in the company, valued at approximately $1,632,158.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.63% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in IRWD. BVF Inc. IL purchased a new stake in Ironwood Pharmaceuticals in the 1st quarter valued at $85,519,000. OppenheimerFunds Inc. purchased a new stake in Ironwood Pharmaceuticals in the 1st quarter valued at $39,903,000. Sarissa Capital Management LP purchased a new stake in Ironwood Pharmaceuticals in the 4th quarter valued at $24,733,000. Senzar Asset Management LLC raised its position in Ironwood Pharmaceuticals by 185.8% in the 4th quarter. Senzar Asset Management LLC now owns 1,448,800 shares of the biotechnology company’s stock valued at $21,718,000 after purchasing an additional 941,800 shares during the last quarter. Finally, Park West Asset Management LLC purchased a new stake in Ironwood Pharmaceuticals in the 4th quarter valued at $9,203,000.
Ironwood Pharmaceuticals stock traded up $0.17 during trading on Friday, reaching $19.12. The stock had a trading volume of 1,145,532 shares, compared to its average volume of 1,345,551. Ironwood Pharmaceuticals has a 52-week low of $12.89 and a 52-week high of $19.79. The company has a quick ratio of 4.40, a current ratio of 4.42 and a debt-to-equity ratio of -21.52. The company has a market capitalization of $2.88 billion, a P/E ratio of -20.56 and a beta of 1.11.
About Ironwood Pharmaceuticals
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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