Wedbush Comments on Ironwood Pharmaceuticals, Inc.’s FY2021 Earnings (NASDAQ:IRWD)

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) – Research analysts at Wedbush cut their FY2021 earnings estimates for shares of Ironwood Pharmaceuticals in a note issued to investors on Wednesday, July 31st. Wedbush analyst D. Nierengarten now expects that the biotechnology company will post earnings per share of $0.88 for the year, down from their prior estimate of $0.89. Wedbush currently has a “Neutral” rating and a $12.00 price target on the stock. Wedbush also issued estimates for Ironwood Pharmaceuticals’ FY2023 earnings at $0.94 EPS.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last posted its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.15. The company had revenue of $102.22 million for the quarter, compared to analysts’ expectations of $89.28 million. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.22) EPS.

A number of other equities analysts have also recently weighed in on IRWD. ValuEngine cut shares of Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Mizuho set a $20.00 price objective on shares of Ironwood Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Credit Suisse Group reaffirmed a “neutral” rating on shares of Ironwood Pharmaceuticals in a research report on Wednesday, July 10th. Zacks Investment Research upgraded shares of Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, April 16th. Finally, HC Wainwright set a $13.00 target price on shares of Ironwood Pharmaceuticals and gave the stock a “hold” rating in a report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $15.15.

Shares of NASDAQ:IRWD traded up $0.03 during mid-day trading on Thursday, reaching $10.66. 4,030 shares of the company were exchanged, compared to its average volume of 1,018,510. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -11.22 and a beta of 1.68. The company has a 50-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.

In other news, CFO Gina Consylman sold 4,055 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $10.53, for a total value of $42,699.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Halley E. Gilbert sold 20,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $10.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here. Insiders sold a total of 25,555 shares of company stock worth $259,589 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in shares of Ironwood Pharmaceuticals by 12.8% in the 2nd quarter. Janus Henderson Group PLC now owns 7,505,293 shares of the biotechnology company’s stock valued at $82,108,000 after purchasing an additional 852,356 shares in the last quarter. Norges Bank acquired a new stake in shares of Ironwood Pharmaceuticals in the 4th quarter valued at $19,568,000. Northern Trust Corp grew its position in shares of Ironwood Pharmaceuticals by 2.0% in the 4th quarter. Northern Trust Corp now owns 1,712,129 shares of the biotechnology company’s stock valued at $17,738,000 after buying an additional 33,007 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Ironwood Pharmaceuticals by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,754 shares of the biotechnology company’s stock valued at $17,184,000 after buying an additional 94,453 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Ironwood Pharmaceuticals by 425.5% in the 4th quarter. Millennium Management LLC now owns 1,373,080 shares of the biotechnology company’s stock valued at $14,225,000 after buying an additional 1,111,814 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

Ironwood Pharmaceuticals Company Profile

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 and Estimates for Ironwood Pharmaceuticals (NASDAQ:IRWD)

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