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.
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.
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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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