In the last trading session, 2.96 million Ironwood Pharmaceuticals Inc (NASDAQ:IRWD) shares changed hands as the company’s beta touched 0.56. With the company’s per share price at $8.32 changed hands at -$0.09 or -1.07% during last session, the market valuation stood at $1.30B. IRWD’s last price was a discount, traded about -88.7% off its 52-week high of $15.70. The share price had its 52-week low at $8.07, which suggests the last value was 3.0% up since then. When we look at Ironwood Pharmaceuticals Inc’s average trading volume, we note the 10-day average is 6.12 million shares, with the 3-month average coming to 4.82 million.
Ironwood Pharmaceuticals Inc (NASDAQ:IRWD) trade information
Instantly IRWD was in red as seen at the end of in last trading. With action -5.99%, the performance over the past five days has been red. The drop to weekly highs of 9.23 subtracted -1.07% to the stock’s daily price. The company’s shares are showing year-to-date downside of -27.27%, with the 5-day performance at -5.99% in the red. However, in the 30-day time frame, Ironwood Pharmaceuticals Inc (NASDAQ:IRWD) is -44.64% down. Looking at the short shares, we see there were 15.51 million shares sold at short interest cover period of 3.51 days.
Ironwood Pharmaceuticals Inc (IRWD) estimates and forecasts
Data shows that the Ironwood Pharmaceuticals Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -11.77% over the past 6 months, a 111.32% in annual growth rate that is considerably higher than the industry average of 10.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Ironwood Pharmaceuticals Inc will fall -20.00%, while the growth in revenue is estimated to hit 103.00% for the next quarter. Year-over-year growth is forecast to reach 1.30% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $106.3 million. 5 analysts are of the opinion that Ironwood Pharmaceuticals Inc’s revenue for the quarter ending Jun 2024 will be $112.16 million. The company’s revenue for the corresponding quarters a year ago was $100.41 million and $107.38 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 5.90%. The estimates for the next quarter sales put growth at 4.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -28.37%. The 2024 estimates are for Ironwood Pharmaceuticals Inc earnings to increase by 110.85%.
IRWD Dividends
Ironwood Pharmaceuticals Inc is expected to release its next quarterly earnings report between May 02 and May 06.
Ironwood Pharmaceuticals Inc (NASDAQ:IRWD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.08% of Ironwood Pharmaceuticals Inc shares while 108.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 111.19%. There are 108.88% institutions holding the Ironwood Pharmaceuticals Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 16.54% of the shares, roughly 25.8 million IRWD shares worth $274.56 million.
Sarissa Capital Management, LP holds the second largest percentage of outstanding shares, with 10.50% or 16.39 million shares worth $174.39 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF. With 9.28 million shares estimated at $89.34 million under it, the former controlled 5.95% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF held about 3.92% of the shares, roughly 6.11 million shares worth around $53.77 million.
