FY2024 Earnings Forecast for IRWD Issued By Leerink Partnrs

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD - Free Report) - Equities researchers at Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for Ironwood Pharmaceuticals in a note issued to investors on Thursday, November 7th. Leerink Partnrs analyst F. Khurshid now forecasts that the biotechnology company will post earnings of $0.08 per share for the year, down from their previous estimate of $0.10. Leerink Partnrs has a "Hold" rating on the stock. The consensus estimate for Ironwood Pharmaceuticals' current full-year earnings is $0.26 per share.

Ironwood Pharmaceuticals (NASDAQ:IRWD - Get Free Report) last released its earnings results on Thursday, November 7th. The biotechnology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). The company had revenue of $91.60 million for the quarter, compared to analysts' expectations of $91.22 million. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. Ironwood Pharmaceuticals's revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share.

A number of other equities research analysts have also recently commented on the company. Leerink Partners began coverage on Ironwood Pharmaceuticals in a report on Monday, September 9th. They set a "market perform" rating and a $5.00 price target on the stock. Capital One Financial cut Ironwood Pharmaceuticals from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $12.00 to $4.00 in a report on Thursday, August 8th. StockNews.com raised Ironwood Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Monday, November 4th. Craig Hallum reduced their target price on Ironwood Pharmaceuticals from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Finally, Wells Fargo & Company reduced their target price on Ironwood Pharmaceuticals from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.40.

Ironwood Pharmaceuticals Trading Down 3.6 %

NASDAQ IRWD traded down $0.18 on Monday, hitting $4.78. 1,283,078 shares of the company traded hands, compared to its average volume of 2,941,010. The company has a market capitalization of $763.56 million, a price-to-earnings ratio of -159.33 and a beta of 0.47. The business's 50 day moving average price is $4.32 and its 200-day moving average price is $5.58. Ironwood Pharmaceuticals has a 52-week low of $3.79 and a 52-week high of $15.70.

Institutional Investors Weigh In On Ironwood Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. KBC Group NV increased its stake in Ironwood Pharmaceuticals by 59.3% during the third quarter. KBC Group NV now owns 8,593 shares of the biotechnology company's stock worth $35,000 after acquiring an additional 3,198 shares during the last quarter. CWM LLC boosted its position in shares of Ironwood Pharmaceuticals by 55.1% during the second quarter. CWM LLC now owns 6,600 shares of the biotechnology company's stock valued at $43,000 after buying an additional 2,345 shares during the period. Diversified Trust Co purchased a new position in shares of Ironwood Pharmaceuticals during the third quarter valued at approximately $52,000. Legacy Capital Group California Inc. purchased a new position in shares of Ironwood Pharmaceuticals during the third quarter valued at approximately $59,000. Finally, GAMMA Investing LLC boosted its position in shares of Ironwood Pharmaceuticals by 344.1% during the second quarter. GAMMA Investing LLC now owns 10,526 shares of the biotechnology company's stock valued at $69,000 after buying an additional 8,156 shares during the period.

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.