Wedbush Equities Analysts Lower Earnings Estimates for Ironwood Pharmaceuticals, Inc. (IRWD)
Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) – Research analysts at Wedbush lowered their FY2019 earnings per share estimates for shares of Ironwood Pharmaceuticals in a research note issued to investors on Friday. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will earn $0.44 per share for the year, down from their previous estimate of $0.50. Wedbush also issued estimates for Ironwood Pharmaceuticals’ FY2020 earnings at $0.55 EPS and FY2021 earnings at $0.83 EPS.
IRWD has been the subject of a number of other research reports. J P Morgan Chase & Co restated a “neutral” rating and set a $19.00 target price (down previously from $20.00) on shares of Ironwood Pharmaceuticals in a research report on Friday, July 21st. BidaskClub downgraded Ironwood Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Ironwood Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 17th. Cowen and Company restated an “outperform” rating and set a $20.00 target price on shares of Ironwood Pharmaceuticals in a research report on Sunday, July 23rd. Finally, ValuEngine downgraded Ironwood Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.29.
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Ironwood Pharmaceuticals (NASDAQ IRWD) traded up $0.09 during mid-day trading on Monday, hitting $15.22. The stock had a trading volume of 712,998 shares, compared to its average volume of 1,646,273. Ironwood Pharmaceuticals has a 12 month low of $13.43 and a 12 month high of $19.94. The company has a quick ratio of 4.86, a current ratio of 4.87 and a debt-to-equity ratio of -22.31.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.07. The firm had revenue of $86.80 million during the quarter, compared to the consensus estimate of $73.59 million. Ironwood Pharmaceuticals had a negative return on equity of 645.22% and a negative net margin of 48.89%. The business’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) EPS.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Ironwood Pharmaceuticals by 2.4% in the second quarter. Vanguard Group Inc. now owns 10,761,867 shares of the biotechnology company’s stock valued at $203,184,000 after acquiring an additional 256,406 shares during the period. Janus Henderson Group PLC acquired a new position in Ironwood Pharmaceuticals in the second quarter valued at about $150,460,000. State Street Corp grew its stake in Ironwood Pharmaceuticals by 13.7% in the second quarter. State Street Corp now owns 4,530,267 shares of the biotechnology company’s stock valued at $85,533,000 after acquiring an additional 545,464 shares during the period. EcoR1 Capital LLC grew its stake in Ironwood Pharmaceuticals by 29.2% in the second quarter. EcoR1 Capital LLC now owns 3,753,635 shares of the biotechnology company’s stock valued at $70,869,000 after acquiring an additional 848,120 shares during the period. Finally, Pictet Asset Management Ltd. grew its stake in Ironwood Pharmaceuticals by 37.5% in the third quarter. Pictet Asset Management Ltd. now owns 2,622,507 shares of the biotechnology company’s stock valued at $41,357,000 after acquiring an additional 715,147 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.
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.
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