Brokerages predict that Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD – Get Rating) will report $97.13 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Ironwood Pharmaceuticals’ earnings, with estimates ranging from $97.00 million to $97.26 million. Ironwood Pharmaceuticals reported sales of $88.85 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.3%. The company is scheduled to issue its next earnings results on Monday, January 1st.
On average, analysts expect that Ironwood Pharmaceuticals will report full-year sales of $434.03 million for the current fiscal year, with estimates ranging from $421.00 million to $447.06 million. For the next fiscal year, analysts forecast that the company will post sales of $487.25 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Ironwood Pharmaceuticals.
Ironwood Pharmaceuticals (NASDAQ:IRWD – Get Rating) last released its quarterly earnings data on Thursday, February 17th. The biotechnology company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04). The business had revenue of $117.13 million during the quarter, compared to the consensus estimate of $110.18 million. Ironwood Pharmaceuticals had a return on equity of 42.43% and a net margin of 127.72%. The business’s revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $0.36 EPS.
IRWD has been the subject of a number of recent analyst reports. TheStreet raised Ironwood Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Wednesday, January 19th. StockNews.com upgraded Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, April 1st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $14.33.
In other Ironwood Pharmaceuticals news, insider Ronald Silver sold 3,031 shares of the company’s stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $12.75, for a total transaction of $38,645.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Ironwood Pharmaceuticals in the fourth quarter worth approximately $35,170,000. Barclays PLC raised its holdings in shares of Ironwood Pharmaceuticals by 3.0% in the fourth quarter. Barclays PLC now owns 222,204 shares of the biotechnology company’s stock worth $2,590,000 after buying an additional 6,488 shares during the period. BlackRock Inc. grew its stake in Ironwood Pharmaceuticals by 15.2% in the fourth quarter. BlackRock Inc. now owns 14,368,890 shares of the biotechnology company’s stock worth $167,541,000 after purchasing an additional 1,897,115 shares in the last quarter. Comerica Bank grew its stake in Ironwood Pharmaceuticals by 20.7% in the fourth quarter. Comerica Bank now owns 602,957 shares of the biotechnology company’s stock worth $6,717,000 after purchasing an additional 103,370 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in Ironwood Pharmaceuticals by 3.4% in the fourth quarter. California State Teachers Retirement System now owns 211,014 shares of the biotechnology company’s stock worth $2,460,000 after purchasing an additional 6,944 shares in the last quarter.
NASDAQ IRWD opened at $12.72 on Friday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 3.94 and a beta of 1.22. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $11.63 and a 200-day moving average price of $11.96. Ironwood Pharmaceuticals has a twelve month low of $10.02 and a twelve month high of $14.27.
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 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 Mexico, as well as under the CONSTELLA name in the Canada and European Union.