Zacks: Analysts Anticipate Ironwood Pharmaceuticals, Inc. (IRWD) Will Announce Quarterly Sales of $92.91 Million

Equities research analysts expect Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) to announce sales of $92.91 million for the current quarter, according to Zacks. Four analysts have provided estimates for Ironwood Pharmaceuticals’ earnings. The highest sales estimate is $95.81 million and the lowest is $88.22 million. Ironwood Pharmaceuticals posted sales of $86.83 million in the same quarter last year, which suggests a positive year over year growth rate of 7%. The business is expected to issue its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Ironwood Pharmaceuticals will report full year sales of $340.47 million for the current financial year, with estimates ranging from $327.43 million to $349.78 million. For the next financial year, analysts anticipate that the firm will report sales of $440.96 million per share, with estimates ranging from $392.49 million to $530.18 million. Zacks’ sales averages are an average based on a survey of analysts that cover Ironwood Pharmaceuticals.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings results on Monday, August 6th. The biotechnology company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.09). The firm had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $82.61 million. Ironwood Pharmaceuticals had a negative net margin of 34.03% and a negative return on equity of 2,073.20%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.28) EPS.

A number of equities research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $13.00 price objective on shares of Ironwood Pharmaceuticals in a research report on Wednesday, May 9th. BidaskClub raised Ironwood Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 6th. Cowen reaffirmed a “market perform” rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, July 18th. Zacks Investment Research downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, April 18th. Finally, ValuEngine raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.11.

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $17.62, for a total value of $26,430.00. Following the completion of the sale, the director now owns 92,631 shares of the company’s stock, valued at $1,632,158.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Halley E. Gilbert sold 29,551 shares of the firm’s stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $19.75, for a total value of $583,632.25. Following the completion of the sale, the insider now directly owns 29,551 shares of the company’s stock, valued at approximately $583,632.25. The disclosure for this sale can be found here. In the last three months, insiders sold 61,051 shares of company stock valued at $1,210,062. Corporate insiders own 7.63% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC acquired a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $367,000. MetLife Investment Advisors LLC acquired a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $955,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Ironwood Pharmaceuticals during the fourth quarter worth about $220,000. Alps Advisors Inc. lifted its holdings in shares of Ironwood Pharmaceuticals by 21.0% during the first quarter. Alps Advisors Inc. now owns 181,590 shares of the biotechnology company’s stock worth $2,802,000 after purchasing an additional 31,560 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Ironwood Pharmaceuticals during the first quarter worth about $138,000.

Shares of Ironwood Pharmaceuticals stock traded down $0.39 during trading on Tuesday, hitting $18.82. 703,541 shares of the stock traded hands, compared to its average volume of 1,008,305. The firm has a market cap of $2.94 billion, a P/E ratio of -20.24 and a beta of 0.81. The company has a current ratio of 2.94, a quick ratio of 4.40 and a debt-to-equity ratio of -8.64. Ironwood Pharmaceuticals has a 52-week low of $12.89 and a 52-week high of $21.20.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc, a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and CONSTELLA name in the European Union; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.

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