Ironwood Pharmaceuticals (NASDAQ:IRWD) Releases Quarterly Earnings Results

Ironwood Pharmaceuticals (NASDAQ:IRWD) issued its quarterly earnings results on Thursday. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08), Zacks reports. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The business had revenue of $90.55 million for the quarter, compared to the consensus estimate of $93.85 million.

Ironwood Pharmaceuticals Stock Performance

Shares of IRWD stock opened at $1.62 on Friday. The company has a market capitalization of $259.25 million, a P/E ratio of -54.00 and a beta of 0.29. Ironwood Pharmaceuticals has a fifty-two week low of $1.59 and a fifty-two week high of $15.24. The stock has a 50 day moving average price of $3.21 and a two-hundred day moving average price of $3.86.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com cut Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. JMP Securities reduced their price objective on Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 30th. Finally, Craig Hallum dropped their target price on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.60.

Insider Transactions at Ironwood Pharmaceuticals

In related news, CEO Thomas A. Mccourt sold 139,064 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $244,752.64. Following the completion of the sale, the chief executive officer now owns 1,160,634 shares of the company’s stock, valued at $2,042,715.84. This trade represents a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Michael Shetzline sold 41,269 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $72,633.44. Following the transaction, the chief marketing officer now directly owns 554,007 shares in the company, valued at approximately $975,052.32. The trade was a 6.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 192,381 shares of company stock worth $338,591. Insiders own 12.90% of the company’s stock.

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.