Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) – Equities researchers at Wedbush raised their Q3 2019 earnings per share (EPS) estimates for Ironwood Pharmaceuticals in a report released on Wednesday, July 31st. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will post earnings of $0.15 per share for the quarter, up from their prior forecast of $0.05. Wedbush currently has a “Neutral” rating and a $12.00 target price on the stock. Wedbush also issued estimates for Ironwood Pharmaceuticals’ Q4 2019 earnings at $0.13 EPS, FY2019 earnings at $0.08 EPS and FY2022 earnings at $0.89 EPS.
A number of other research firms also recently weighed in on IRWD. BidaskClub downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Credit Suisse Group restated a “neutral” rating on shares of Ironwood Pharmaceuticals in a report on Wednesday, July 10th. Zacks Investment Research raised shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, April 16th. ValuEngine raised shares of Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, HC Wainwright set a $13.00 price target on shares of Ironwood Pharmaceuticals and gave the company a “hold” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.15.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.15. The company had revenue of $102.22 million during the quarter, compared to analyst estimates of $89.28 million. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.22) earnings per share.
In other Ironwood Pharmaceuticals news, CFO Gina Consylman sold 4,055 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $10.53, for a total transaction of $42,699.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Halley E. Gilbert sold 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $10.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here. Insiders have sold 25,555 shares of company stock worth $259,589 in the last ninety days. Insiders own 5.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in IRWD. Swiss National Bank lifted its holdings in shares of Ironwood Pharmaceuticals by 12.7% during the 2nd quarter. Swiss National Bank now owns 287,700 shares of the biotechnology company’s stock worth $3,147,000 after acquiring an additional 32,400 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Ironwood Pharmaceuticals by 611.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 163,300 shares of the biotechnology company’s stock worth $1,758,000 after acquiring an additional 140,343 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of Ironwood Pharmaceuticals during the 2nd quarter worth $115,000. Janus Henderson Group PLC lifted its holdings in shares of Ironwood Pharmaceuticals by 12.8% during the 2nd quarter. Janus Henderson Group PLC now owns 7,505,293 shares of the biotechnology company’s stock worth $82,108,000 after acquiring an additional 852,356 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 51.3% during the 2nd quarter. Aperio Group LLC now owns 31,292 shares of the biotechnology company’s stock worth $342,000 after acquiring an additional 10,610 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors.
Ironwood Pharmaceuticals Company Profile
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; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.
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