Analysts expect Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) to post $93.85 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ironwood Pharmaceuticals’ earnings. The highest sales estimate is $99.90 million and the lowest is $89.50 million. Ironwood Pharmaceuticals posted sales of $94.21 million during the same quarter last year, which suggests a negative year over year growth rate of 0.4%. The company is expected to issue its next quarterly earnings results on Thursday, February 21st.
According to Zacks, analysts expect that Ironwood Pharmaceuticals will report full-year sales of $315.28 million for the current year, with estimates ranging from $305.40 million to $342.30 million. For the next fiscal year, analysts expect that the firm will report sales of $393.59 million, with estimates ranging from $341.31 million to $474.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.24). The company had revenue of $68.69 million for the quarter, compared to analysts’ expectations of $93.48 million. During the same period in the prior year, the company earned ($0.18) earnings per share. The firm’s revenue was down 20.9% compared to the same quarter last year.
Several equities analysts recently issued reports on IRWD shares. Wedbush reissued a “neutral” rating on shares of Ironwood Pharmaceuticals in a report on Wednesday, November 7th. Wells Fargo & Co set a $19.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 31st. Morgan Stanley set a $11.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “sell” rating in a report on Wednesday, November 7th. ValuEngine downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Finally, BTIG Research set a $17.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, November 7th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.45.
IRWD stock traded down $1.08 during trading on Friday, hitting $12.72. 2,106,747 shares of the stock traded hands, compared to its average volume of 1,423,737. Ironwood Pharmaceuticals has a one year low of $11.02 and a one year high of $21.20. The company has a market capitalization of $2.13 billion, a P/E ratio of -13.68 and a beta of 1.27.
In other Ironwood Pharmaceuticals news, insider Mark G. Currie sold 116,651 shares of the business’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $17.53, for a total value of $2,044,892.03. Following the completion of the transaction, the insider now directly owns 70,680 shares of the company’s stock, valued at $1,239,020.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.63% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in IRWD. Pacer Advisors Inc. bought a new stake in shares of Ironwood Pharmaceuticals during the third quarter worth approximately $177,000. Meeder Asset Management Inc. bought a new stake in shares of Ironwood Pharmaceuticals during the second quarter worth approximately $186,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Ironwood Pharmaceuticals during the third quarter worth approximately $249,000. PNC Financial Services Group Inc. raised its stake 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 worth $325,000 after buying an additional 16,917 shares during the last quarter. Finally, Amalgamated Bank raised its stake 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 worth $405,000 after buying an additional 3,142 shares during the last quarter. 94.08% of the stock is owned by institutional investors.
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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