Zacks Research Equities Analysts Lower Earnings Estimates for Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD)

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) – Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for shares of Ironwood Pharmaceuticals in a report issued on Monday, July 29th. Zacks Research analyst R. Department now expects that the biotechnology company will post earnings of $0.17 per share for the quarter, down from their previous estimate of $0.18. The consensus estimate for Ironwood Pharmaceuticals’ current full-year earnings is $0.56 per share. Zacks Research also issued estimates for Ironwood Pharmaceuticals’ Q4 2024 earnings at $0.17 EPS, FY2024 earnings at $0.47 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.17 EPS and Q2 2026 earnings at $0.22 EPS.

Several other equities research analysts have also recently issued reports on IRWD. Craig Hallum lowered their price objective on Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 10th. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $18.40.

Ironwood Pharmaceuticals Trading Down 3.5 %

IRWD stock opened at $6.59 on Wednesday. Ironwood Pharmaceuticals has a 12-month low of $5.47 and a 12-month high of $15.70. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -0.97 and a beta of 0.52. The business’s 50-day moving average is $6.38 and its 200 day moving average is $8.89.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.20). Ironwood Pharmaceuticals had a negative return on equity of 28.45% and a negative net margin of 254.41%. The firm had revenue of $74.90 million during the quarter, compared to analyst estimates of $105.75 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was down 28.0% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IRWD. Vanguard Group Inc. grew its position in Ironwood Pharmaceuticals by 21.8% in the first quarter. Vanguard Group Inc. now owns 19,521,366 shares of the biotechnology company’s stock worth $170,031,000 after acquiring an additional 3,487,821 shares during the period. Armistice Capital LLC lifted its stake in Ironwood Pharmaceuticals by 64.9% during the fourth quarter. Armistice Capital LLC now owns 5,700,000 shares of the biotechnology company’s stock worth $65,208,000 after purchasing an additional 2,244,000 shares in the last quarter. Kynam Capital Management LP acquired a new position in Ironwood Pharmaceuticals during the first quarter worth $14,154,000. Jacobs Levy Equity Management Inc. lifted its stake in Ironwood Pharmaceuticals by 40.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,235,580 shares of the biotechnology company’s stock worth $36,892,000 after purchasing an additional 1,226,377 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new position in Ironwood Pharmaceuticals during the first quarter worth $7,521,000.

Insider Transactions at Ironwood Pharmaceuticals

In other news, Director Julie Mchugh sold 22,766 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $6.29, for a total transaction of $143,198.14. Following the transaction, the director now directly owns 139,528 shares in the company, valued at approximately $877,631.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Julie Mchugh sold 22,766 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $6.29, for a total value of $143,198.14. Following the completion of the transaction, the director now directly owns 139,528 shares in the company, valued at $877,631.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Catherine Moukheibir sold 44,426 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $6.36, for a total value of $282,549.36. Following the completion of the transaction, the director now owns 84,207 shares of the company’s stock, valued at $535,556.52. The disclosure for this sale can be found here. Insiders own 12.90% of the company’s stock.

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.