Ironwood Pharmaceuticals (NASDAQ:IRWD) Releases Earnings Results

Ironwood Pharmaceuticals (NASDAQ:IRWDGet Rating) announced its quarterly earnings results on Thursday. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.10), Briefing.com reports. Ironwood Pharmaceuticals had a net margin of 124.83% and a return on equity of 34.67%. The business had revenue of $97.23 million for the quarter, compared to the consensus estimate of $103.51 million. During the same period in the previous year, the company earned $0.34 earnings per share. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. Ironwood Pharmaceuticals updated its FY 2022 guidance to EPS.

Ironwood Pharmaceuticals Stock Up 3.4 %

Shares of Ironwood Pharmaceuticals stock traded up $0.39 on Friday, reaching $11.87. The stock had a trading volume of 3,535,618 shares, compared to its average volume of 2,908,481. The company has a 50 day moving average price of $11.64 and a 200 day moving average price of $11.65. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.76. Ironwood Pharmaceuticals has a 1 year low of $10.13 and a 1 year high of $14.27. The stock has a market capitalization of $1.83 billion, a P/E ratio of 3.72 and a beta of 1.04.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IRWD shares. Piper Sandler started coverage on Ironwood Pharmaceuticals in a research report on Friday, April 22nd. They set an “overweight” rating and a $16.00 price objective on the stock. StockNews.com raised Ironwood Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, June 15th.

Insider Transactions at Ironwood Pharmaceuticals

In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 36,308 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $11.50, for a total transaction of $417,542.00. Following the sale, the chief executive officer now owns 798,881 shares of the company’s stock, valued at approximately $9,187,131.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ironwood Pharmaceuticals news, CEO Thomas A. Mccourt sold 36,308 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $11.50, for a total transaction of $417,542.00. Following the sale, the chief executive officer now owns 798,881 shares of the company’s stock, valued at approximately $9,187,131.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas A. Mccourt sold 19,959 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $11.58, for a total transaction of $231,125.22. Following the completion of the sale, the chief executive officer now directly owns 778,922 shares in the company, valued at $9,019,916.76. The disclosure for this sale can be found here. Insiders have sold a total of 277,489 shares of company stock valued at $3,287,473 in the last 90 days. Insiders own 13.10% of the company’s stock.

Institutional Trading of Ironwood Pharmaceuticals

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in shares of Ironwood Pharmaceuticals by 16.6% in the 1st quarter. Renaissance Technologies LLC now owns 3,123,053 shares of the biotechnology company’s stock valued at $39,288,000 after purchasing an additional 443,800 shares during the period. State Street Corp raised its position in Ironwood Pharmaceuticals by 5.3% during the first quarter. State Street Corp now owns 8,297,067 shares of the biotechnology company’s stock worth $104,377,000 after acquiring an additional 418,756 shares during the period. First Trust Advisors LP lifted its holdings in Ironwood Pharmaceuticals by 65.5% during the first quarter. First Trust Advisors LP now owns 459,003 shares of the biotechnology company’s stock valued at $5,774,000 after purchasing an additional 181,729 shares in the last quarter. BlackRock Inc. increased its stake in shares of Ironwood Pharmaceuticals by 1.2% during the first quarter. BlackRock Inc. now owns 14,536,759 shares of the biotechnology company’s stock worth $182,873,000 after purchasing an additional 167,869 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Ironwood Pharmaceuticals by 143.6% during the 1st quarter. APG Asset Management N.V. now owns 187,800 shares of the biotechnology company’s stock worth $2,123,000 after purchasing an additional 110,700 shares during the last quarter.

Ironwood Pharmaceuticals Company Profile

(Get Rating)

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.

Further Reading

Earnings History for Ironwood Pharmaceuticals (NASDAQ:IRWD)

Receive News & Ratings for Ironwood Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ironwood Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.