Q2 2024 EPS Estimates for Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Reduced by Capital One Financial

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) – Research analysts at Capital One Financial dropped their Q2 2024 earnings per share estimates for Ironwood Pharmaceuticals in a research report issued on Thursday, May 9th. Capital One Financial analyst T. Chiang now anticipates that the biotechnology company will post earnings of $0.14 per share for the quarter, down from their previous estimate of $0.17. The consensus estimate for Ironwood Pharmaceuticals’ current full-year earnings is $0.67 per share. Capital One Financial also issued estimates for Ironwood Pharmaceuticals’ Q3 2024 earnings at $0.15 EPS and Q4 2024 earnings at $0.17 EPS.

IRWD has been the topic of a number of other reports. StockNews.com lowered Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, April 6th. Wells Fargo & Company cut their price objective on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Piper Sandler lifted their price objective on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Finally, Craig Hallum cut their price objective on 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 equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.40.

Ironwood Pharmaceuticals Price Performance

Ironwood Pharmaceuticals stock opened at $6.63 on Monday. The stock’s 50 day moving average is $8.20 and its 200 day moving average is $10.53. The firm has a market cap of $1.04 billion, a P/E ratio of -0.98 and a beta of 0.57. Ironwood Pharmaceuticals has a one year low of $6.21 and a one year high of $15.70.

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

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Walleye Capital LLC acquired a new position in shares of Ironwood Pharmaceuticals during the third quarter worth approximately $1,608,000. Illinois Municipal Retirement Fund bought a new stake in Ironwood Pharmaceuticals during the third quarter worth $743,000. Jacobs Levy Equity Management Inc. bought a new stake in Ironwood Pharmaceuticals during the third quarter worth $22,903,000. Vanguard Group Inc. grew its holdings in Ironwood Pharmaceuticals by 0.3% during the third quarter. Vanguard Group Inc. now owns 14,895,700 shares of the biotechnology company’s stock worth $143,446,000 after buying an additional 49,160 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in Ironwood Pharmaceuticals by 95.8% during the third quarter. Quantbot Technologies LP now owns 69,500 shares of the biotechnology company’s stock worth $669,000 after buying an additional 34,000 shares in the last quarter.

Insider Buying and Selling at Ironwood Pharmaceuticals

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

About Ironwood Pharmaceuticals

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.