Ironwood Pharmaceuticals (NASDAQ:IRWD) Posts Earnings Results, Misses Estimates By $0.07 EPS

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

Ironwood Pharmaceuticals Stock Up 4.5 %

Shares of Ironwood Pharmaceuticals stock traded up $0.21 during trading on Friday, hitting $4.87. 643,075 shares of the company were exchanged, compared to its average volume of 2,944,379. Ironwood Pharmaceuticals has a fifty-two week low of $3.79 and a fifty-two week high of $15.70. The firm has a 50 day moving average price of $4.32 and a 200 day moving average price of $5.64. The stock has a market capitalization of $777.93 million, a price-to-earnings ratio of 116.50 and a beta of 0.47.

Insider Buying and Selling at Ironwood Pharmaceuticals

In related news, insider Minardo John sold 9,910 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $4.27, for a total transaction of $42,315.70. Following the sale, the insider now owns 284,661 shares of the company’s stock, valued at $1,215,502.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

IRWD has been the subject of several recent analyst reports. Leerink Partnrs raised Ironwood Pharmaceuticals to a “hold” rating in a report on Monday, September 9th. Wells Fargo & Company decreased their target price on shares of Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Craig Hallum reduced their price objective on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com upgraded shares of Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Leerink Partners initiated coverage on shares of Ironwood Pharmaceuticals in a research report on Monday, September 9th. They set a “market perform” rating and a $5.00 price target for the company. Three investment 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 company. Based on data from MarketBeat, the stock currently has an average 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.