Ironwood Pharmaceuticals (NASDAQ:IRWD) Releases Earnings Results, Beats Estimates By $0.15 EPS

Ironwood Pharmaceuticals (NASDAQ:IRWD) issued its quarterly earnings results on Tuesday. The biotechnology company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.15, Fidelity Earnings reports. The company had revenue of $102.22 million during the quarter, compared to the consensus estimate of $89.28 million. During the same quarter in the previous year, the business posted ($0.22) EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Ironwood Pharmaceuticals updated its FY 2019 guidance to EPS.

Shares of IRWD stock traded up $0.10 during mid-day trading on Wednesday, reaching $10.63. 4,264,526 shares of the stock traded hands, compared to its average volume of 1,442,842. The business has a fifty day moving average price of $10.66. Ironwood Pharmaceuticals has a 1-year low of $9.07 and a 1-year high of $19.77. The stock has a market capitalization of $1.69 billion, a P/E ratio of -11.19 and a beta of 1.68.

In related news, CFO Gina Consylman sold 4,055 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $10.53, for a total value of $42,699.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Halley E. Gilbert sold 20,000 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $10.00, for a total value of $200,000.00. The disclosure for this sale can be found here. Insiders have sold 25,555 shares of company stock worth $259,589 over the last three months. Insiders own 5.90% of the company’s stock.

Several analysts recently weighed in on the company. BidaskClub lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. ValuEngine lowered Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Morgan Stanley set a $13.00 price objective on Ironwood Pharmaceuticals and gave the company a “hold” rating in a research note on Friday, May 3rd. Mizuho set a $20.00 price objective on Ironwood Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $12.00 price objective (up from $11.00) on shares of Ironwood Pharmaceuticals in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $15.15.

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; MD-7246, an oral, intestinal, non-opioid, pain-relieving agent for patients suffering from IBS with diarrhea; and IW 3718, a gastric retentive formulation of a bile acid sequestrant, which is in Phase III clinical trials for the treatment of GERD.

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Earnings History for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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