Ironwood Pharmaceuticals (NASDAQ:IRWD) Posts Quarterly Earnings Results

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) issued its earnings results on Thursday. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07), Briefing.com reports. Ironwood Pharmaceuticals had a net margin of 2.30% and a negative return on equity of 6.37%. The company had revenue of $91.60 million during the quarter, compared to analysts' expectations of $91.22 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The firm's quarterly revenue was down 19.4% compared to the same quarter last year. Ironwood Pharmaceuticals updated its FY 2024 guidance to EPS.

Ironwood Pharmaceuticals Stock Performance

IRWD traded up $0.30 on Friday, reaching $4.96. 1,569,955 shares of the company's stock were exchanged, compared to its average volume of 1,193,872. The company has a market cap of $792.31 million, a price-to-earnings ratio of -165.33 and a beta of 0.47. Ironwood Pharmaceuticals has a twelve month low of $3.79 and a twelve month high of $15.70. The company's 50 day moving average is $4.32 and its 200-day moving average is $5.59.

Insiders Place Their Bets

In other Ironwood Pharmaceuticals news, insider Minardo John sold 9,910 shares of the business's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $4.27, for a total transaction of $42,315.70. Following the transaction, the insider now owns 284,661 shares in the company, valued at $1,215,502.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Capital One Financial cut Ironwood Pharmaceuticals from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $12.00 to $4.00 in a report on Thursday, August 8th. Leerink Partners began coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They issued a "market perform" rating and a $5.00 target price for the company. Wells Fargo & Company reduced their price objective on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. Craig Hallum dropped their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com raised Ironwood Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ironwood Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $12.17.

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.