Brokerages expect Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) to announce sales of $97.31 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ironwood Pharmaceuticals' earnings, with the highest sales estimate coming in at $97.91 million and the lowest estimate coming in at $96.70 million. Ironwood Pharmaceuticals posted sales of $131.17 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 25.8%. The company is scheduled to report its next earnings results on Thursday, October 29th.
According to Zacks, analysts expect that Ironwood Pharmaceuticals will report full year sales of $373.24 million for the current fiscal year, with estimates ranging from $371.10 million to $376.41 million. For the next financial year, analysts forecast that the business will post sales of $405.38 million, with estimates ranging from $397.35 million to $410.68 million. Zacks' sales averages are an average based on a survey of research analysts that that provide coverage for Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, August 6th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.08 by $0.08. The firm had revenue of $89.43 million during the quarter, compared to analyst estimates of $85.38 million. Ironwood Pharmaceuticals had a net margin of 22.74% and a negative return on equity of 160.69%. The business's revenue was down 12.5% on a year-over-year basis. During the same quarter last year, the business earned $0.10 EPS.
IRWD has been the subject of several analyst reports. Northland Securities restated a "buy" rating on shares of Ironwood Pharmaceuticals in a report on Monday, August 3rd. Morgan Stanley raised their target price on shares of Ironwood Pharmaceuticals from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. BidaskClub upgraded shares of Ironwood Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Tuesday. ValuEngine downgraded shares of Ironwood Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Friday, August 7th. Finally, Credit Suisse Group reduced their price target on shares of Ironwood Pharmaceuticals from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Monday, June 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. Ironwood Pharmaceuticals currently has an average rating of "Hold" and an average price target of $12.17.
In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 7,950 shares of the firm's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $9.77, for a total transaction of $77,671.50. Following the transaction, the director now owns 123,107 shares of the company's stock, valued at approximately $1,202,755.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company's stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in Ironwood Pharmaceuticals by 361.3% during the 2nd quarter. Principal Financial Group Inc. now owns 200,443 shares of the biotechnology company's stock valued at $2,069,000 after purchasing an additional 156,987 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of Ironwood Pharmaceuticals in the 2nd quarter valued at about $279,000. Nuveen Asset Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 50.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,490,293 shares of the biotechnology company's stock valued at $15,380,000 after buying an additional 500,309 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ironwood Pharmaceuticals by 12.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,105,073 shares of the biotechnology company's stock valued at $11,405,000 after buying an additional 119,395 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Ironwood Pharmaceuticals by 63.7% in the 2nd quarter. AQR Capital Management LLC now owns 440,921 shares of the biotechnology company's stock valued at $4,550,000 after buying an additional 171,531 shares in the last quarter.
Ironwood Pharmaceuticals stock opened at $9.47 on Thursday. The firm has a 50-day moving average price of $10.04 and a 200-day moving average price of $10.12. The firm has a market capitalization of $1.51 billion, a PE ratio of 15.52 and a beta of 1.47. Ironwood Pharmaceuticals has a 12-month low of $7.91 and a 12-month high of $14.10.
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; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.
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