Ironwood Pharmaceuticals, Inc. to Post Q1 2024 Earnings of $0.14 Per Share, Capital One Financial Forecasts (NASDAQ:IRWD)

Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) – Equities research analysts at Capital One Financial issued their Q1 2024 earnings per share (EPS) estimates for Ironwood Pharmaceuticals in a report released on Wednesday, May 1st. Capital One Financial analyst T. Chiang forecasts that the biotechnology company will post earnings of $0.14 per share 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 equities research analysts also recently issued reports on IRWD. StockNews.com downgraded Ironwood Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, April 6th. Wells Fargo & Company decreased their price target on shares of Ironwood Pharmaceuticals from $20.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Craig Hallum assumed coverage on shares of Ironwood Pharmaceuticals in a research report on Wednesday, January 17th. They set a “buy” rating and a $21.00 price objective for the company. Finally, Piper Sandler upped their target price on Ironwood Pharmaceuticals from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.80.

Ironwood Pharmaceuticals Trading Up 6.1 %

Shares of NASDAQ IRWD opened at $8.22 on Thursday. Ironwood Pharmaceuticals has a 12 month low of $7.53 and a 12 month high of $15.70. The stock has a 50 day moving average of $9.09 and a 200-day moving average of $10.63.

Insider Buying and Selling

In other news, CMO Michael Shetzline sold 38,618 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 value of $588,538.32. Following the transaction, the chief marketing officer now owns 340,484 shares in the company, valued at approximately $5,188,976.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CMO Michael Shetzline sold 38,618 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.24, for a total value of $588,538.32. Following the completion of the transaction, the chief marketing officer now directly owns 340,484 shares in the company, valued at approximately $5,188,976.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jon R. Duane acquired 6,920 shares of Ironwood Pharmaceuticals stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $8.70 per share, for a total transaction of $60,204.00. Following the transaction, the director now directly owns 121,028 shares in the company, valued at $1,052,943.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 273,008 shares of company stock worth $4,160,642. Company insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Ironwood Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Ironwood Pharmaceuticals by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 16,033,545 shares of the biotechnology company’s stock worth $183,424,000 after acquiring an additional 1,137,845 shares during the last quarter. Armistice Capital LLC lifted its position in shares of Ironwood Pharmaceuticals by 64.9% in the 4th quarter. Armistice Capital LLC now owns 5,700,000 shares of the biotechnology company’s stock worth $65,208,000 after purchasing an additional 2,244,000 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Ironwood Pharmaceuticals by 17.9% in the 3rd quarter. Victory Capital Management Inc. now owns 4,406,732 shares of the biotechnology company’s stock valued at $42,437,000 after purchasing an additional 668,694 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Ironwood Pharmaceuticals by 160.9% in the 3rd 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 purchasing an additional 1,518,500 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Ironwood Pharmaceuticals during the third quarter worth $22,903,000.

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.