Ironwood Pharmaceuticals (NASDAQ:IRWD – Get 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
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
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.
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