Ironwood Pharmaceuticals (NASDAQ:IRWD) Posts Quarterly Earnings Results

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

Ironwood Pharmaceuticals Stock Up 6.4 %

Shares of NASDAQ:IRWD opened at $4.96 on Friday. The firm has a fifty day moving average of $4.32 and a two-hundred day moving average of $5.61. The firm has a market capitalization of $792.31 million, a P/E ratio of 124.00 and a beta of 0.47. Ironwood Pharmaceuticals has a 12-month low of $3.79 and a 12-month high of $15.70.

Insider Buying and Selling at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, August 12th. The shares were sold at an average price of $4.27, for a total value of $42,315.70. Following the completion of the sale, the insider now owns 284,661 shares of the company’s stock, valued at approximately $1,215,502.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.90% of the company’s stock.

Analyst Upgrades and Downgrades

IRWD has been the topic of several recent research reports. Capital One Financial lowered shares of Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $12.00 to $4.00 in a research report on Thursday, August 8th. StockNews.com raised shares of Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 4th. Leerink Partnrs raised shares of Ironwood Pharmaceuticals to a “hold” rating in a research note on Monday, September 9th. Leerink Partners assumed coverage on shares of Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.17.

Ironwood Pharmaceuticals Company Profile

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.