Ironwood Pharmaceuticals, Inc. (IRWD) Expected to Announce Quarterly Sales of $90.77 Million

Equities research analysts predict that Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) will post sales of $90.77 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Ironwood Pharmaceuticals’ earnings. The lowest sales estimate is $73.41 million and the highest is $105.80 million. Ironwood Pharmaceuticals posted sales of $69.16 million during the same quarter last year, which would indicate a positive year over year growth rate of 31.2%. The firm is expected to report its next quarterly earnings report on Tuesday, May 7th.

On average, analysts expect that Ironwood Pharmaceuticals will report full year sales of $386.57 million for the current fiscal year, with estimates ranging from $385.26 million to $388.48 million. For the next year, analysts forecast that the business will report sales of $446.59 million, with estimates ranging from $383.69 million to $542.02 million. Zacks’ sales averages are an average based on a survey of analysts that follow Ironwood Pharmaceuticals.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings results on Wednesday, February 13th. The biotechnology company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.15. The company had revenue of $130.70 million during the quarter, compared to the consensus estimate of $96.57 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was up 38.7% on a year-over-year basis.

Several research analysts have issued reports on the stock. Wood & Company assumed coverage on shares of Ironwood Pharmaceuticals in a report on Tuesday, February 26th. They set a “buy” rating on the stock. BidaskClub lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. GMP Securities raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price target for the company from $11.50 to $14.00 in a research report on Monday, February 25th. HC Wainwright raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price target for the company from $11.50 to $14.00 in a research report on Monday, February 25th. Finally, BTIG Research set a $19.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Ironwood Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $17.35.

In other Ironwood Pharmaceuticals news, CEO Peter M. Hecht sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 23rd. The shares were sold at an average price of $12.66, for a total transaction of $379,800.00. Following the completion of the transaction, the chief executive officer now directly owns 4,726,917 shares of the company’s stock, valued at approximately $59,842,769.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter M. Hecht sold 89,551 shares of the firm’s stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $12.53, for a total transaction of $1,122,074.03. Following the transaction, the chief executive officer now directly owns 4,726,917 shares of the company’s stock, valued at $59,228,270.01. The disclosure for this sale can be found here. Insiders sold a total of 403,872 shares of company stock valued at $5,281,958 over the last ninety days. 7.63% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Ironwood Pharmaceuticals by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 1,658,754 shares of the biotechnology company’s stock worth $17,184,000 after buying an additional 94,453 shares during the last quarter. Norges Bank purchased a new position in Ironwood Pharmaceuticals during the 4th quarter worth approximately $19,568,000. Dimensional Fund Advisors LP purchased a new position in Ironwood Pharmaceuticals during the 4th quarter worth approximately $252,000. Amalgamated Bank purchased a new position in Ironwood Pharmaceuticals during the 4th quarter worth approximately $211,000. Finally, Millennium Management LLC raised its position in Ironwood Pharmaceuticals by 425.5% during the 4th quarter. Millennium Management LLC now owns 1,373,080 shares of the biotechnology company’s stock worth $14,225,000 after buying an additional 1,111,814 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Ironwood Pharmaceuticals stock traded down $0.15 during midday trading on Friday, hitting $13.29. 1,042,563 shares of the company’s stock were exchanged, compared to its average volume of 1,562,034. Ironwood Pharmaceuticals has a 12 month low of $9.07 and a 12 month high of $21.20. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -13.99 and a beta of 1.91.

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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