Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Expected to Earn Q2 2024 Earnings of $0.18 Per Share

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) – Investment analysts at Zacks Research dropped their Q2 2024 earnings estimates for Ironwood Pharmaceuticals in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now expects that the biotechnology company will post earnings of $0.18 per share for the quarter, down from their prior forecast of $0.21. The consensus estimate for Ironwood Pharmaceuticals’ current full-year earnings is $0.60 per share. Zacks Research also issued estimates for Ironwood Pharmaceuticals’ Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.19 EPS, Q4 2025 earnings at $0.19 EPS, FY2025 earnings at $0.74 EPS and Q1 2026 earnings at $0.22 EPS.

Ironwood Pharmaceuticals (NASDAQ:IRWD) last released its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.20). Ironwood Pharmaceuticals had a negative net margin of 254.41% and a negative return on equity of 28.45%. The firm had revenue of $74.90 million during the quarter, compared to the consensus estimate of $105.75 million. During the same quarter last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was down 28.0% compared to the same quarter last year.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company decreased their target price on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Piper Sandler boosted their target price on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. StockNews.com downgraded Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. Finally, Craig Hallum reduced their price objective on shares of Ironwood Pharmaceuticals from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.40.

Ironwood Pharmaceuticals Stock Down 1.8 %

Shares of NASDAQ:IRWD opened at $5.95 on Thursday. The firm has a market cap of $931.35 million, a PE ratio of -0.88 and a beta of 0.57. The company’s 50 day moving average price is $7.81 and its two-hundred day moving average price is $10.36. Ironwood Pharmaceuticals has a 12-month low of $5.85 and a 12-month high of $15.70.

Insider Activity

In other news, CFO Sravan Kumar Emany bought 10,684 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $9.38 per share, for a total transaction of $100,215.92. Following the acquisition, the chief financial officer now directly owns 301,733 shares in the company, valued at $2,830,255.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jon R. Duane bought 6,920 shares of Ironwood Pharmaceuticals stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $8.70 per share, for a total transaction of $60,204.00. Following the purchase, the director now directly owns 121,028 shares in the company, valued at approximately $1,052,943.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sravan Kumar Emany acquired 10,684 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $9.38 per share, with a total value of $100,215.92. Following the purchase, the chief financial officer now owns 301,733 shares in the company, valued at approximately $2,830,255.54. The disclosure for this purchase can be found here. Company insiders own 13.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Farallon Capital Management LLC purchased a new position in Ironwood Pharmaceuticals in the first quarter valued at about $113,000. Redwood Investment Management LLC grew its stake in Ironwood Pharmaceuticals by 29.7% during the first quarter. Redwood Investment Management LLC now owns 366,691 shares of the biotechnology company’s stock valued at $3,194,000 after acquiring an additional 84,072 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Ironwood Pharmaceuticals by 40.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,235,580 shares of the biotechnology company’s stock worth $36,892,000 after purchasing an additional 1,226,377 shares in the last quarter. Kennedy Capital Management LLC grew its position in shares of Ironwood Pharmaceuticals by 10.1% during the 1st quarter. Kennedy Capital Management LLC now owns 116,543 shares of the biotechnology company’s stock valued at $1,015,000 after purchasing an additional 10,645 shares in the last quarter. Finally, Kynam Capital Management LP bought a new position in shares of Ironwood Pharmaceuticals in the first quarter worth $14,154,000.

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 (GC-C) agonist for the treatment of adults suffering from irritable bowel syndrome with constipation or chronic idiopathic constipation under the LINZESS name in the United States, Mexico, Japan, Saudi Arabia, and China, as well as under the CONSTELLA name in the Canada and European countries.