Wedbush Analysts Cut Earnings Estimates for Ironwood Pharmaceuticals, Inc. (IRWD)

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) – Research analysts at Wedbush reduced their Q1 2019 earnings estimates for Ironwood Pharmaceuticals in a research note issued to investors on Wednesday, November 7th. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will earn $0.02 per share for the quarter, down from their previous forecast of $0.03. Wedbush currently has a “Neutral” rating on the stock. Wedbush also issued estimates for Ironwood Pharmaceuticals’ Q2 2019 earnings at $0.16 EPS.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.24). The company had revenue of $68.69 million during the quarter, compared to analysts’ expectations of $93.48 million. The company’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) EPS.

A number of other research analysts have also issued reports on IRWD. Cowen reiterated a “market perform” rating on shares of Ironwood Pharmaceuticals in a report on Wednesday, July 18th. HC Wainwright initiated coverage on Ironwood Pharmaceuticals in a report on Monday, July 23rd. They issued a “sell” rating and a $12.50 target price for the company. BidaskClub lowered Ironwood Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 26th. Wells Fargo & Co set a $23.00 price target on Ironwood Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, ValuEngine downgraded Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $17.35.

NASDAQ:IRWD traded down $0.28 during midday trading on Friday, reaching $11.80. The company had a trading volume of 4,784 shares, compared to its average volume of 1,719,167. The firm has a market cap of $1.96 billion, a PE ratio of -12.71 and a beta of 1.33. Ironwood Pharmaceuticals has a 12-month low of $11.81 and a 12-month high of $21.20.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Ironwood Pharmaceuticals by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 626,367 shares of the biotechnology company’s stock worth $11,564,000 after buying an additional 10,717 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at about $249,000. Swiss National Bank lifted its holdings in shares of Ironwood Pharmaceuticals by 11.0% in the 3rd quarter. Swiss National Bank now owns 264,500 shares of the biotechnology company’s stock valued at $4,883,000 after purchasing an additional 26,200 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Ironwood Pharmaceuticals by 42.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 13,839 shares of the biotechnology company’s stock valued at $256,000 after purchasing an additional 4,136 shares during the last quarter. Finally, Chicago Equity Partners LLC lifted its holdings in shares of Ironwood Pharmaceuticals by 19.2% in the 3rd quarter. Chicago Equity Partners LLC now owns 291,165 shares of the biotechnology company’s stock valued at $5,375,000 after purchasing an additional 46,890 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

In other Ironwood Pharmaceuticals news, Director Julie Mchugh sold 1,500 shares of Ironwood Pharmaceuticals stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $19.10, for a total transaction of $28,650.00. Following the completion of the sale, the director now directly owns 91,131 shares of the company’s stock, valued at approximately $1,740,602.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark G. Currie sold 116,651 shares of Ironwood Pharmaceuticals stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $17.53, for a total value of $2,044,892.03. Following the sale, the insider now directly owns 70,680 shares of the company’s stock, valued at $1,239,020.40. The disclosure for this sale can be found here. Insiders have sold a total of 248,339 shares of company stock valued at $4,475,466 over the last ninety days. 7.63% of the stock is owned by company insiders.

About Ironwood Pharmaceuticals

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; and lesinurad for the treatment of hyperuricemia associated with uncontrolled gout in adults under the ZURAMPIC and DUZALLO names.

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Earnings History and Estimates for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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