Ironwood Pharmaceuticals, Inc. (IRWD) Expected to Post Quarterly Sales of $86.72 Million

Analysts expect Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) to report sales of $86.72 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Ironwood Pharmaceuticals’ earnings. The lowest sales estimate is $73.16 million and the highest is $93.86 million. Ironwood Pharmaceuticals reported sales of $94.21 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 8%. The company is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, February 13th.

On average, analysts expect that Ironwood Pharmaceuticals will report full-year sales of $304.29 million for the current year, with estimates ranging from $289.11 million to $311.92 million. For the next year, analysts forecast that the business will post sales of $395.21 million, with estimates ranging from $350.05 million to $474.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ironwood Pharmaceuticals.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Wednesday, February 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. The firm had revenue of $130.70 million for the quarter, compared to the consensus estimate of $96.57 million. Ironwood Pharmaceuticals’s revenue was up 38.7% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS.

Several equities research analysts recently weighed in on the stock. ValuEngine raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday. BidaskClub raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Wood & Company reissued a “buy” rating on shares of Ironwood Pharmaceuticals in a research report on Thursday, January 31st. Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, January 28th. Finally, JPMorgan Chase & Co. upgraded shares of Ironwood Pharmaceuticals from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $11.00 to $13.00 in a report on Thursday, January 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.28.

Shares of IRWD traded up $1.54 on Friday, hitting $14.75. 4,755,723 shares of the stock traded hands, compared to its average volume of 1,698,158. The company has a market capitalization of $2.14 billion, a P/E ratio of -15.86 and a beta of 1.91. Ironwood Pharmaceuticals has a one year low of $9.07 and a one year high of $21.20.

In other news, CEO Peter M. Hecht sold 30,000 shares of Ironwood Pharmaceuticals stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $12.66, for a total transaction of $379,800.00. Following the transaction, the chief executive officer now owns 4,726,917 shares in the company, valued at approximately $59,842,769.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter M. Hecht sold 89,551 shares of Ironwood Pharmaceuticals stock in a transaction on Friday, January 25th. The stock was sold at an average price of $12.53, for a total transaction of $1,122,074.03. Following the transaction, the chief executive officer now owns 4,726,917 shares in the company, valued at approximately $59,228,270.01. The disclosure for this sale can be found here. Insiders sold 121,551 shares of company stock worth $1,526,814 in the last 90 days. 7.63% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of IRWD. CWM LLC purchased a new position in shares of Ironwood Pharmaceuticals during the 4th quarter worth $31,000. First Manhattan Co. purchased a new position in shares of Ironwood Pharmaceuticals during the 4th quarter worth $133,000. Bank of Montreal Can boosted its stake in shares of Ironwood Pharmaceuticals by 426.9% during the 4th quarter. Bank of Montreal Can now owns 16,846 shares of the biotechnology company’s stock worth $175,000 after acquiring an additional 13,649 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter worth $177,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter worth $249,000. Institutional investors and hedge funds own 93.85% of the company’s stock.

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; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.

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