Ironwood Pharmaceuticals (NASDAQ:IRWD) Announces Earnings Results

Ironwood Pharmaceuticals (NASDAQ:IRWD) issued its 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 business had revenue of $91.60 million for the quarter, compared to the consensus estimate of $91.22 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue was down 19.4% on a year-over-year basis. Ironwood Pharmaceuticals updated its FY 2024 guidance to EPS.

Ironwood Pharmaceuticals Stock Performance

Ironwood Pharmaceuticals stock traded up $0.25 during midday trading on Friday, reaching $4.91. The stock had a trading volume of 879,803 shares, compared to its average volume of 2,944,777. Ironwood Pharmaceuticals has a 1-year low of $3.79 and a 1-year high of $15.70. The stock has a market capitalization of $784.32 million, a P/E ratio of 121.75 and a beta of 0.47. The firm’s fifty day simple moving average is $4.32 and its 200-day simple moving average is $5.64.

Insider Buying and Selling

In other news, insider Minardo John sold 9,910 shares of Ironwood Pharmaceuticals stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on IRWD. StockNews.com raised shares of Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday. Craig Hallum decreased their price target on shares of Ironwood Pharmaceuticals from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 9th. Capital One Financial downgraded Ironwood Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $12.00 to $4.00 in a research note on Thursday, August 8th. Leerink Partners initiated coverage on Ironwood Pharmaceuticals in a research note on Monday, September 9th. They issued a “market perform” rating and a $5.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

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.