Ironwood Pharmaceuticals (IRWD) Releases Earnings Results

Ironwood Pharmaceuticals (NASDAQ:IRWD) announced its quarterly earnings data on Wednesday. The biotechnology company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.15, Morningstar.com reports. The firm had revenue of $130.70 million during the quarter, compared to analysts’ expectations of $96.57 million. During the same period in the prior year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. Ironwood Pharmaceuticals updated its FY 2019 guidance to EPS.

Shares of Ironwood Pharmaceuticals stock traded up $1.28 during trading hours on Wednesday, hitting $14.50. The company had a trading volume of 1,207,475 shares, compared to its average volume of 1,592,725. Ironwood Pharmaceuticals has a twelve month low of $9.07 and a twelve month high of $21.20. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -15.59 and a beta of 1.91.

In other news, CEO Peter M. Hecht sold 30,000 shares of the company’s stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $12.66, for a total value of $379,800.00. Following the completion of 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 document filed with the SEC, which is available at this link. Also, CEO Peter M. Hecht sold 89,551 shares of the company’s stock in a transaction on Friday, January 25th. The shares were sold at an average price of $12.53, for a total transaction of $1,122,074.03. Following the completion of the transaction, the chief executive officer now owns 4,726,917 shares of the company’s stock, valued at approximately $59,228,270.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,551 shares of company stock valued at $1,526,814. Company insiders own 7.63% of the company’s stock.

Institutional investors have recently modified their holdings of the company. CWM LLC acquired a new stake in Ironwood Pharmaceuticals during the 4th quarter worth $31,000. Pacer Advisors Inc. acquired a new stake in Ironwood Pharmaceuticals during the 3rd quarter worth $177,000. First Manhattan Co. acquired a new stake in Ironwood Pharmaceuticals during the 4th quarter worth $133,000. Campbell & CO Investment Adviser LLC acquired a new stake in Ironwood Pharmaceuticals during the 3rd quarter worth $249,000. Finally, Meeder Asset Management Inc. boosted its stake in Ironwood Pharmaceuticals by 42.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 13,839 shares of the biotechnology company’s stock worth $256,000 after purchasing an additional 4,136 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

A number of brokerages have commented on IRWD. Zacks Investment Research raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. BidaskClub raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. HC Wainwright set a $13.00 price objective on shares of Ironwood Pharmaceuticals and gave the company a “sell” rating in a research report on Wednesday, October 31st. ValuEngine downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Finally, Wood & Company reissued a “buy” rating on shares of Ironwood Pharmaceuticals in a research report on Thursday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $17.28.

TRADEMARK VIOLATION WARNING: “Ironwood Pharmaceuticals (IRWD) Releases Earnings Results” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.com-unik.info/2019/02/13/ironwood-pharmaceuticals-irwd-releases-earnings-results.html.

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.

Recommended Story: What is a conference call?

Earnings History for Ironwood Pharmaceuticals (NASDAQ:IRWD)

Receive News & Ratings for Ironwood Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit