Brokerages Anticipate Ironwood Pharmaceuticals, Inc. (IRWD) Will Post Quarterly Sales of $83.14 Million

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.

A number of equities analysts have recently weighed in on IRWD shares. ValuEngine raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. BidaskClub raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Wood & Company reaffirmed a “buy” rating on shares of Ironwood Pharmaceuticals in a research note on Thursday, January 31st. Mizuho upped their price target on shares of Ironwood Pharmaceuticals to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 15th. Finally, BTIG Research set a $19.00 price target on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, February 14th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.35.

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

Get a free copy of the Zacks research report on Ironwood Pharmaceuticals (IRWD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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.