Ironwood Pharmaceuticals (IRWD) Posts Earnings Results, Beats Expectations By $0.04 EPS

Ironwood Pharmaceuticals (NASDAQ:IRWD) issued its quarterly earnings data on Thursday. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04, Bloomberg Earnings reports. Ironwood Pharmaceuticals had a negative return on equity of 645.22% and a negative net margin of 48.89%. The company had revenue of $94.20 million during the quarter, compared to analysts’ expectations of $88.86 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The business’s revenue was up 7.7% on a year-over-year basis.

Shares of Ironwood Pharmaceuticals (NASDAQ IRWD) opened at $15.50 on Friday. The company has a current ratio of 4.87, a quick ratio of 4.86 and a debt-to-equity ratio of -22.31. Ironwood Pharmaceuticals has a 12 month low of $12.89 and a 12 month high of $19.94.

In other Ironwood Pharmaceuticals news, CEO Peter M. Hecht sold 113,405 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $15.12, for a total transaction of $1,714,683.60. Following the completion of the sale, the chief executive officer now directly owns 4,696,917 shares in the company, valued at $71,017,385.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark G. Currie sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $15.45, for a total value of $927,000.00. Following the sale, the insider now owns 835,000 shares of the company’s stock, valued at $12,900,750. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,905 shares of company stock valued at $2,666,359. 7.63% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ironwood Pharmaceuticals by 128.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,010 shares of the biotechnology company’s stock worth $135,000 after purchasing an additional 5,069 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management bought a new stake in Ironwood Pharmaceuticals during the third quarter worth $170,000. Hemenway Trust Co LLC bought a new stake in Ironwood Pharmaceuticals during the fourth quarter worth $204,000. Ameritas Investment Partners Inc. lifted its stake in Ironwood Pharmaceuticals by 5.8% during the second quarter. Ameritas Investment Partners Inc. now owns 11,821 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 648 shares during the last quarter. Finally, Virtu KCG Holdings LLC increased its holdings in shares of Ironwood Pharmaceuticals by 10.3% during the second quarter. Virtu KCG Holdings LLC now owns 15,740 shares of the biotechnology company’s stock worth $297,000 after buying an additional 1,470 shares in the last quarter.

A number of equities research analysts have recently issued reports on IRWD shares. ValuEngine upgraded Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. BidaskClub cut Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, December 30th. Bank of America cut Ironwood Pharmaceuticals from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $20.00 to $15.00 in a report on Friday, January 5th. Morgan Stanley restated a “hold” rating on shares of Ironwood Pharmaceuticals in a report on Monday, December 4th. Finally, Zacks Investment Research upgraded Ironwood Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.56.

COPYRIGHT VIOLATION NOTICE: “Ironwood Pharmaceuticals (IRWD) Posts Earnings Results, Beats Expectations By $0.04 EPS” was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://stocknewstimes.com/2018/02/16/ironwood-pharmaceuticals-irwd-posts-earnings-results-beats-expectations-by-0-04-eps.html.

About Ironwood Pharmaceuticals

Ironwood Pharmaceuticals, Inc is a biotechnology company. The Company is advancing product opportunities in areas of unmet need, including irritable bowel syndrome with constipation (IBS C), and chronic idiopathic constipation (CIC), hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease (uncontrolled GERD), and vascular and fibrotic diseases.

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.

Latest News

Leave a Reply