Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Expected to Earn Q1 2024 Earnings of $0.14 Per Share

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) – Analysts at Capital One Financial issued their Q1 2024 earnings per share estimates for Ironwood Pharmaceuticals in a report released on Wednesday, May 1st. Capital One Financial analyst T. Chiang expects that the biotechnology company will post earnings per share of $0.14 for the quarter. The consensus estimate for Ironwood Pharmaceuticals’ current full-year earnings is $0.71 per share. Capital One Financial also issued estimates for Ironwood Pharmaceuticals’ Q2 2024 earnings at $0.17 EPS, Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.18 EPS and FY2026 earnings at $1.03 EPS.

Several other research firms have also commented on IRWD. Wells Fargo & Company reduced their price objective on Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Piper Sandler increased their target price on shares of Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Craig Hallum began coverage on shares of Ironwood Pharmaceuticals in a report on Wednesday, January 17th. They set a “buy” rating and a $21.00 price target on the stock. Finally, StockNews.com lowered shares of Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

Ironwood Pharmaceuticals Trading Down 2.2 %

IRWD opened at $8.12 on Thursday. The company’s 50 day moving average is $8.82 and its 200 day moving average is $10.60. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -1.25 and a beta of 0.57. Ironwood Pharmaceuticals has a 12-month low of $7.53 and a 12-month high of $15.70.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Ironwood Pharmaceuticals by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 16,033,545 shares of the biotechnology company’s stock valued at $183,424,000 after buying an additional 1,137,845 shares during the period. Armistice Capital LLC grew its stake in Ironwood Pharmaceuticals by 64.9% in the fourth quarter. Armistice Capital LLC now owns 5,700,000 shares of the biotechnology company’s stock valued at $65,208,000 after purchasing an additional 2,244,000 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Ironwood Pharmaceuticals by 17.9% in the third quarter. Victory Capital Management Inc. now owns 4,406,732 shares of the biotechnology company’s stock worth $42,437,000 after purchasing an additional 668,694 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Ironwood Pharmaceuticals by 160.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,462,300 shares of the biotechnology company’s stock valued at $23,712,000 after buying an additional 1,518,500 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Ironwood Pharmaceuticals in the 3rd quarter valued at about $22,903,000.

Insider Buying and Selling

In other Ironwood Pharmaceuticals news, Director Jon R. Duane purchased 6,920 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $8.70 per share, with a total value of $60,204.00. Following the acquisition, the director now owns 121,028 shares in the company, valued at $1,052,943.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jon R. Duane purchased 6,920 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $8.70 per share, for a total transaction of $60,204.00. Following the acquisition, the director now owns 121,028 shares of the company’s stock, valued at approximately $1,052,943.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas A. Mccourt sold 177,164 shares of Ironwood Pharmaceuticals stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total transaction of $2,699,979.36. Following the transaction, the chief executive officer now directly owns 832,774 shares of the company’s stock, valued at $12,691,475.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,008 shares of company stock worth $4,160,642. 13.10% 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.