Ironwood Pharmaceuticals (NASDAQ:IRWD) Issues Earnings Results

Ironwood Pharmaceuticals (NASDAQ:IRWD) posted its quarterly earnings results on Thursday. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07), Briefing.com reports. The business had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $91.22 million. Ironwood Pharmaceuticals had a net margin of 2.30% and a negative return on equity of 6.37%. The firm’s quarterly revenue was down 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 EPS. Ironwood Pharmaceuticals updated its FY 2024 guidance to EPS.

Ironwood Pharmaceuticals Stock Performance

Shares of NASDAQ:IRWD traded up $0.21 during trading on Friday, hitting $4.87. The company’s stock had a trading volume of 643,075 shares, compared to its average volume of 2,944,379. The company has a market capitalization of $777.93 million, a PE ratio of 116.50 and a beta of 0.47. Ironwood Pharmaceuticals has a fifty-two week low of $3.79 and a fifty-two week high of $15.70. The stock’s 50-day moving average price is $4.32 and its two-hundred day moving average price is $5.64.

Insider Buying and Selling at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $4.27, for a total value of $42,315.70. Following the transaction, the insider now directly owns 284,661 shares of the company’s stock, valued at $1,215,502.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.90% of the stock is owned by insiders.

Analyst Ratings Changes

IRWD has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday. Wells Fargo & Company lowered their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Capital One Financial lowered Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. Finally, Craig Hallum reduced their target price on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.