Ironwood Pharmaceuticals (NASDAQ:IRWD) Issues Earnings Results

Ironwood Pharmaceuticals (NASDAQ:IRWD) issued its earnings results on Thursday. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08), Zacks reports. Ironwood Pharmaceuticals had a negative net margin of 0.65% and a negative return on equity of 0.96%. The company had revenue of $90.55 million during the quarter, compared to analysts’ expectations of $93.85 million.

Ironwood Pharmaceuticals Stock Down 0.6 %

Shares of IRWD opened at $1.61 on Friday. The firm has a market cap of $257.65 million, a PE ratio of -53.67 and a beta of 0.29. The company’s fifty day moving average is $3.16 and its two-hundred day moving average is $3.84. Ironwood Pharmaceuticals has a fifty-two week low of $1.55 and a fifty-two week high of $11.00.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IRWD shares. Craig Hallum dropped their price objective on shares of Ironwood Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. StockNews.com cut shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Finally, JMP Securities dropped their price objective on shares of Ironwood Pharmaceuticals from $23.00 to $14.00 and set a “market outperform” rating for the company in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.60.

Insider Buying and Selling at Ironwood Pharmaceuticals

In related news, CMO Michael Shetzline sold 41,269 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $72,633.44. Following the transaction, the chief marketing officer now owns 554,007 shares in the company, valued at approximately $975,052.32. The trade was a 6.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas A. Mccourt sold 139,064 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1.76, for a total transaction of $244,752.64. Following the transaction, the chief executive officer now owns 1,160,634 shares in the company, valued at $2,042,715.84. The trade was a 10.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 192,381 shares of company stock worth $338,591 in the last quarter. 12.90% of the stock is owned by insiders.

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.