Brokerages predict that Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) will report sales of $86.72 million for the current fiscal quarter, Zacks reports. Four analysts have issued 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 in the same quarter last year, which indicates a negative year-over-year growth rate of 8%. The business is scheduled to announce its next earnings report before the market opens on Wednesday, February 13th.
According to Zacks, analysts expect that Ironwood Pharmaceuticals will report full-year sales of $304.29 million for the current financial year, with estimates ranging from $289.11 million to $311.92 million. For the next fiscal year, analysts forecast that the firm will report 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 analysts that cover Ironwood Pharmaceuticals.
IRWD has been the subject of a number of analyst reports. ValuEngine downgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Credit Suisse Group reiterated a “neutral” rating and issued a $19.00 price target (down from $22.00) on shares of Ironwood Pharmaceuticals in a research report on Wednesday, November 7th. HC Wainwright set a $12.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “sell” rating in a research report on Monday, December 10th. Wells Fargo & Co dropped their price target on shares of Ironwood Pharmaceuticals to $18.50 and set an “outperform” rating for the company in a research report on Thursday, November 1st. Finally, Morgan Stanley set a $11.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “sell” rating in a research report on Wednesday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $17.28.
Shares of NASDAQ IRWD traded down $0.18 during midday trading on Friday, reaching $13.69. The company’s stock had a trading volume of 101,107 shares, compared to its average volume of 1,380,053. Ironwood Pharmaceuticals has a fifty-two week low of $9.07 and a fifty-two week high of $21.20. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -14.74 and a beta of 1.91.
In other Ironwood Pharmaceuticals news, 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 sale, the chief executive officer now owns 4,726,917 shares of the company’s stock, valued at $59,228,270.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $379,800.00. Following the sale, the chief executive officer now directly owns 4,726,917 shares in the company, valued at approximately $59,842,769.22. The disclosure for this sale can be found here. In the last three months, insiders sold 121,551 shares of company stock worth $1,526,814. 7.63% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of IRWD. Trustcore Financial Services LLC bought a new position in shares of Ironwood Pharmaceuticals during the 3rd quarter worth about $1,917,000. Engineers Gate Manager LP acquired a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter worth about $1,761,000. PNC Financial Services Group Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 584.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 116,489 shares of the biotechnology company’s stock worth $2,152,000 after acquiring an additional 99,476 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,324,954 shares of the biotechnology company’s stock worth $227,518,000 after acquiring an additional 377,177 shares during the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Ironwood Pharmaceuticals by 23.8% in the 3rd quarter. Alps Advisors Inc. now owns 246,297 shares of the biotechnology company’s stock worth $4,547,000 after acquiring an additional 47,400 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.
About Ironwood Pharmaceuticals
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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