Ironwood Pharmaceuticals (NASDAQ:IRWD) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) posted its earnings results on Thursday. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08), Zacks reports. The company had revenue of $90.55 million for the quarter, compared to the consensus estimate of $93.85 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%.

Ironwood Pharmaceuticals Price Performance

Shares of Ironwood Pharmaceuticals stock traded down $0.09 during midday trading on Monday, hitting $1.52. The company had a trading volume of 3,183,447 shares, compared to its average volume of 2,586,399. Ironwood Pharmaceuticals has a 1-year low of $1.48 and a 1-year high of $9.59. The business's 50 day simple moving average is $3.10 and its two-hundred day simple moving average is $3.81. The stock has a market cap of $243.24 million, a PE ratio of -50.67 and a beta of 0.29.

Insider Activity at Ironwood Pharmaceuticals

In related news, CMO Michael Shetzline sold 41,269 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1.76, for a total transaction of $72,633.44. Following the transaction, the chief marketing officer now directly owns 554,007 shares in the company, valued at $975,052.32. The trade was a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas A. Mccourt sold 139,064 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1.76, for a total value of $244,752.64. Following the completion of the sale, the chief executive officer now owns 1,160,634 shares of the company's stock, valued at $2,042,715.84. This represents a 10.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,381 shares of company stock worth $338,591 in the last ninety days. 12.90% of the stock is currently owned by insiders.

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Analyst Ratings Changes

IRWD has been the topic of a number of recent analyst reports. Craig Hallum cut their price objective on Ironwood Pharmaceuticals from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. JMP Securities decreased their price objective on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a "market outperform" rating for the company in a report on Thursday, January 30th. Finally, StockNews.com lowered shares of Ironwood Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.60.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc, a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.