Equities research analysts predict that Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) will announce $92.28 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Ironwood Pharmaceuticals’ earnings, with the highest sales estimate coming in at $95.81 million and the lowest estimate coming in at $88.22 million. Ironwood Pharmaceuticals posted sales of $86.83 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.3%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that Ironwood Pharmaceuticals will report full-year sales of $338.40 million for the current financial year, with estimates ranging from $327.55 million to $349.78 million. For the next year, analysts forecast that the business will post sales of $433.43 million, with estimates ranging from $375.40 million to $530.18 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.18). The business had revenue of $68.69 million for the quarter, compared to analyst estimates of $93.48 million. The firm’s revenue was down 20.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.18) earnings per share.
Several brokerages have recently commented on IRWD. BidaskClub downgraded shares of Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. Wells Fargo & Co set a $23.00 price objective on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 8th. HC Wainwright set a $13.00 price objective on shares of Ironwood Pharmaceuticals and gave the company a “sell” rating in a research note on Wednesday, October 31st. ValuEngine downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Finally, Cowen reaffirmed a “market perform” rating on shares of Ironwood Pharmaceuticals in a research note on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.44.
Ironwood Pharmaceuticals stock opened at $12.78 on Wednesday. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -13.74 and a beta of 1.33. Ironwood Pharmaceuticals has a twelve month low of $12.67 and a twelve month high of $21.20.
In related news, insider Mark G. Currie sold 130,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $18.45, for a total transaction of $2,398,500.00. Following the transaction, the insider now owns 791,666 shares in the company, valued at $14,606,237.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Julie Mchugh sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $19.10, for a total transaction of $28,650.00. Following the transaction, the director now owns 91,131 shares in the company, valued at approximately $1,740,602.10. The disclosure for this sale can be found here. Insiders have sold 248,339 shares of company stock worth $4,475,466 in the last quarter. 7.63% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the second quarter valued at about $186,000. A.R.T. Advisors LLC purchased a new position in shares of Ironwood Pharmaceuticals during the first quarter valued at about $208,000. V Wealth Management LLC purchased a new position in shares of Ironwood Pharmaceuticals during the second quarter valued at about $258,000. PNC Financial Services Group Inc. increased its position in shares of 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, Amalgamated Bank increased its position in shares of Ironwood Pharmaceuticals by 17.4% during the second quarter. Amalgamated Bank now owns 21,156 shares of the biotechnology company’s stock valued at $405,000 after buying an additional 3,142 shares during the period. Institutional investors own 97.29% of the company’s stock.
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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