Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Expected to Post Quarterly Sales of $95.62 Million

Last updated on Sunday, July 25, 2021 | 2021 MarketBeat

Equities analysts expect Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) to announce sales of $95.62 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ironwood Pharmaceuticals' earnings. The highest sales estimate is $97.73 million and the lowest is $93.50 million. Ironwood Pharmaceuticals posted sales of $89.43 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The company is scheduled to issue its next earnings results before the market opens on Thursday, August 5th.

On average, analysts expect that Ironwood Pharmaceuticals will report full-year sales of $401.74 million for the current financial year, with estimates ranging from $383.26 million to $415.66 million. For the next fiscal year, analysts expect that the business will post sales of $434.81 million, with estimates ranging from $420.70 million to $460.35 million. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research firms that follow Ironwood Pharmaceuticals.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Thursday, May 6th. The biotechnology company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Ironwood Pharmaceuticals had a net margin of 35.83% and a return on equity of 447.47%. The business had revenue of $88.80 million during the quarter, compared to analysts' expectations of $87.94 million. During the same period last year, the business earned $0.04 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis.

IRWD has been the subject of several analyst reports. Northland Securities reissued a "buy" rating and issued a $15.00 target price on shares of Ironwood Pharmaceuticals in a research note on Tuesday, July 6th. Morgan Stanley lifted their price objective on shares of Ironwood Pharmaceuticals from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, July 16th. Finally, Zacks Investment Research raised shares of Ironwood Pharmaceuticals from a "sell" rating to a "buy" rating and set a $11.00 price objective for the company in a research report on Tuesday, April 20th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. The stock currently has a consensus rating of "Hold" and a consensus price target of $11.80.

NASDAQ:IRWD opened at $13.02 on Friday. Ironwood Pharmaceuticals has a 1-year low of $8.63 and a 1-year high of $13.34. The company has a quick ratio of 22.80, a current ratio of 22.80 and a debt-to-equity ratio of 3.96. The firm has a fifty day moving average price of $12.21. The company has a market capitalization of $2.11 billion, a PE ratio of 14.63 and a beta of 1.39.

In other news, CMO Michael Shetzline sold 2,077 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, May 24th. The stock was sold at an average price of $12.25, for a total transaction of $25,443.25. Following the completion of the sale, the chief marketing officer now owns 197,437 shares of the company's stock, valued at $2,418,603.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark G. Currie sold 23,571 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, June 14th. The stock was sold at an average price of $11.59, for a total value of $273,187.89. Following the sale, the director now directly owns 570,187 shares of the company's stock, valued at approximately $6,608,467.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,880 shares of company stock valued at $325,973. Company insiders own 12.60% of the company's stock.

A number of hedge funds have recently bought and sold shares of the stock. Sarissa Capital Management LP raised its stake in Ironwood Pharmaceuticals by 16.7% in the first quarter. Sarissa Capital Management LP now owns 16,390,000 shares of the biotechnology company's stock valued at $183,240,000 after purchasing an additional 2,350,000 shares in the last quarter. BlackRock Inc. raised its stake in Ironwood Pharmaceuticals by 2.3% in the first quarter. BlackRock Inc. now owns 13,348,564 shares of the biotechnology company's stock valued at $149,239,000 after purchasing an additional 303,914 shares in the last quarter. Renaissance Technologies LLC raised its stake in Ironwood Pharmaceuticals by 56.6% in the first quarter. Renaissance Technologies LLC now owns 3,140,753 shares of the biotechnology company's stock valued at $35,114,000 after purchasing an additional 1,135,000 shares in the last quarter. Bridger Management LLC raised its stake in Ironwood Pharmaceuticals by 15.6% in the first quarter. Bridger Management LLC now owns 2,852,414 shares of the biotechnology company's stock valued at $31,890,000 after purchasing an additional 385,442 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Ironwood Pharmaceuticals by 12.2% in the first quarter. Geode Capital Management LLC now owns 2,776,343 shares of the biotechnology company's stock valued at $31,039,000 after purchasing an additional 302,099 shares in the last quarter.

Ironwood Pharmaceuticals Company Profile

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It 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 Mexico, as well as under the CONSTELLA name in the Canada and European Union.

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Earnings History and Estimates for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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