Ironwood Pharmaceuticals (NASDAQ:IRWD) Announces Quarterly Earnings Results

by · The Markets Daily

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

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD stock traded up $0.31 during trading hours on Friday, reaching $4.97. The company had a trading volume of 1,112,986 shares, compared to its average volume of 2,945,575. Ironwood Pharmaceuticals has a one year low of $3.79 and a one year high of $15.70. The business has a fifty day moving average price of $4.32 and a 200-day moving average price of $5.64. The firm has a market cap of $793.91 million, a PE ratio of 121.75 and a beta of 0.47.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IRWD. Craig Hallum lowered their price target on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Leerink Partnrs upgraded shares of Ironwood Pharmaceuticals to a “hold” rating in a research report on Monday, September 9th. Leerink Partners started coverage on shares of Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a “market perform” rating and a $5.00 price target on the stock. StockNews.com raised shares of Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Wells Fargo & Company lowered their price target on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.17.

View Our Latest Stock Report on IRWD

Insider Buying and Selling

In related news, insider Minardo John sold 9,910 shares of the business’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 transaction of $42,315.70. Following the completion of the transaction, the insider now directly owns 284,661 shares in the company, valued at approximately $1,215,502.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.90% of the stock is currently owned by corporate insiders.

About Ironwood Pharmaceuticals

(Get Free Report)

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.

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