Ironwood Pharmaceuticals (IRWD) Releases Earnings Results, Beats Estimates By $0.04 EPS

Ironwood Pharmaceuticals (NASDAQ:IRWD) issued its earnings results on Thursday. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04, Briefing.com reports. Ironwood Pharmaceuticals had a negative net margin of 48.89% and a negative return on equity of 645.22%. The firm had revenue of $94.20 million during the quarter, compared to analyst estimates of $88.86 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Ironwood Pharmaceuticals’s revenue for the quarter was up 7.7% on a year-over-year basis.

Ironwood Pharmaceuticals (IRWD) traded up $0.51 during mid-day trading on Thursday, reaching $14.49. 1,275,100 shares of the company’s stock traded hands, compared to its average volume of 1,835,074. Ironwood Pharmaceuticals has a fifty-two week low of $12.89 and a fifty-two week high of $19.94. The company has a quick ratio of 4.86, a current ratio of 4.87 and a debt-to-equity ratio of -22.31. The company has a market capitalization of $2,170.00, a price-to-earnings ratio of -15.09 and a beta of 1.28.

A number of equities analysts recently weighed in on IRWD shares. BidaskClub lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. Morgan Stanley restated a “hold” rating on shares of Ironwood Pharmaceuticals in a research report on Monday, December 4th. Bank of America lowered shares of Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $20.00 to $15.00 in a research report on Friday, January 5th. Zacks Investment Research lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, ValuEngine lowered shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $17.56.

In other news, insider Mark G. Currie sold 60,000 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $15.45, for a total value of $927,000.00. Following the sale, the insider now owns 835,000 shares of the company’s stock, valued at $12,900,750. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Peter M. Hecht sold 113,405 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $15.12, for a total transaction of $1,714,683.60. Following the completion of the sale, the chief executive officer now directly owns 4,696,917 shares in the company, valued at approximately $71,017,385.04. The disclosure for this sale can be found here. Insiders have sold 174,905 shares of company stock valued at $2,666,359 in the last quarter. 7.63% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ironwood Pharmaceuticals by 128.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,010 shares of the biotechnology company’s stock valued at $135,000 after acquiring an additional 5,069 shares during the period. Gerber Kawasaki Wealth & Investment Management purchased a new position in Ironwood Pharmaceuticals in the 3rd quarter worth about $170,000. Ameritas Investment Partners Inc. increased its stake in Ironwood Pharmaceuticals by 5.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,821 shares of the biotechnology company’s stock worth $223,000 after buying an additional 648 shares during the period. Hemenway Trust Co LLC purchased a new position in Ironwood Pharmaceuticals in the 4th quarter worth about $204,000. Finally, Virtu KCG Holdings LLC increased its stake in Ironwood Pharmaceuticals by 10.3% in the 2nd quarter. Virtu KCG Holdings LLC now owns 15,740 shares of the biotechnology company’s stock worth $297,000 after buying an additional 1,470 shares during the period.

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Ironwood Pharmaceuticals Company Profile

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.

Earnings History for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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