Wall Street analysts forecast that Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) will announce sales of $68.04 million for the current quarter, according to Zacks. Two analysts have made estimates for Ironwood Pharmaceuticals’ earnings, with the highest sales estimate coming in at $69.31 million and the lowest estimate coming in at $66.77 million. Ironwood Pharmaceuticals reported sales of $66.11 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The company is scheduled to announce its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Ironwood Pharmaceuticals will report full-year sales of $68.04 million for the current financial year, with estimates ranging from $256.82 million to $269.00 million. For the next year, analysts expect that the firm will report sales of $364.35 million per share, with estimates ranging from $348.22 million to $392.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.05). Ironwood Pharmaceuticals had a negative return on equity of 333.83% and a negative net margin of 52.97%. The business had revenue of $65.10 million during the quarter, compared to analyst estimates of $70.00 million. During the same quarter last year, the company posted ($0.16) EPS. Ironwood Pharmaceuticals’s quarterly revenue was up 19.7% compared to the same quarter last year.
Several research analysts have commented on IRWD shares. Wood & Company lowered Ironwood Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Friday, July 21st. Mizuho reissued a “buy” rating and issued a $20.00 target price (down previously from $23.00) on shares of Ironwood Pharmaceuticals in a report on Friday, August 25th. Wedbush reissued a “neutral” rating and issued a $13.00 target price on shares of Ironwood Pharmaceuticals in a report on Friday, June 16th. Wells Fargo & Company set a $19.00 target price on Ironwood Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, July 22nd. Finally, BidaskClub lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $18.29.
Several large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its holdings in shares of Ironwood Pharmaceuticals by 201.9% in the second quarter. Public Employees Retirement System of Ohio now owns 115,375 shares of the biotechnology company’s stock valued at $2,178,000 after purchasing an additional 77,155 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 5.8% in the second quarter. Ameritas Investment Partners Inc. now owns 11,821 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 648 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Ironwood Pharmaceuticals by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 104,571 shares of the biotechnology company’s stock valued at $1,974,000 after buying an additional 3,681 shares in the last quarter. EcoR1 Capital LLC boosted its stake in shares of Ironwood Pharmaceuticals by 29.2% in the second quarter. EcoR1 Capital LLC now owns 3,753,635 shares of the biotechnology company’s stock valued at $70,869,000 after buying an additional 848,120 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Ironwood Pharmaceuticals by 13.7% in the second quarter. State Street Corp now owns 4,530,267 shares of the biotechnology company’s stock valued at $85,533,000 after buying an additional 545,464 shares in the last quarter. 97.90% of the stock is currently owned by institutional investors and hedge funds.
Ironwood Pharmaceuticals (NASDAQ:IRWD) opened at 15.62 on Friday. The company has a 50-day moving average of $15.88 and a 200 day moving average of $16.88. Ironwood Pharmaceuticals has a one year low of $12.48 and a one year high of $19.94. The firm’s market cap is $2.34 billion.
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About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.
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