Equities research analysts expect Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) to report $83.14 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Ironwood Pharmaceuticals’ earnings. The lowest sales estimate is $73.41 million and the highest is $93.09 million. Ironwood Pharmaceuticals posted sales of $69.16 million during the same quarter last year, which suggests a positive year over year growth rate of 20.2%. The firm is expected to report its next earnings results on Tuesday, May 7th.
On average, analysts expect that Ironwood Pharmaceuticals will report full-year sales of $387.84 million for the current fiscal year, with estimates ranging from $385.26 million to $389.51 million. For the next fiscal year, analysts forecast that the company will report sales of $432.47 million, with estimates ranging from $383.69 million to $471.32 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last announced its quarterly earnings data on Wednesday, February 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.15. The company had revenue of $130.70 million for the quarter, compared to analyst estimates of $96.57 million. During the same quarter last year, the company posted ($0.14) EPS. Ironwood Pharmaceuticals’s revenue was up 38.7% on a year-over-year basis.
In other Ironwood Pharmaceuticals news, insider Mark G. Currie sold 275,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.26, for a total transaction of $3,646,500.00. Following the completion of the sale, the insider now directly owns 577,980 shares in the company, valued at $7,664,014.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter M. Hecht sold 30,000 shares of the company’s stock in a transaction dated Wednesday, January 23rd. The shares were sold at an average price of $12.66, for a total transaction of $379,800.00. Following the sale, the chief executive officer now owns 4,726,917 shares of the company’s stock, valued at $59,842,769.22. The disclosure for this sale can be found here. Insiders have sold 403,872 shares of company stock valued at $5,281,958 over the last 90 days. Corporate insiders own 7.63% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in IRWD. CWM LLC bought a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter valued at about $31,000. Pacer Advisors Inc. bought a new stake in shares of Ironwood Pharmaceuticals in the third quarter valued at about $177,000. First Manhattan Co. bought a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter valued at about $133,000. Gotham Asset Management LLC bought a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter valued at about $135,000. Finally, Bank of Montreal Can lifted its stake in shares of Ironwood Pharmaceuticals by 426.9% in the fourth quarter. Bank of Montreal Can now owns 16,846 shares of the biotechnology company’s stock valued at $175,000 after buying an additional 13,649 shares during the period. Institutional investors own 96.68% of the company’s stock.
Shares of NASDAQ IRWD traded up $0.81 during mid-day trading on Monday, reaching $13.53. The company had a trading volume of 1,261,613 shares, compared to its average volume of 1,347,345. Ironwood Pharmaceuticals has a twelve month low of $9.07 and a twelve month high of $21.20. The company has a market capitalization of $1.97 billion, a PE ratio of -14.24 and a beta of 1.92.
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.
Featured Story: Marijuana Stocks Future Looks Bright
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ironwood Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.