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Ironwood Pharmaceuticals

Ironwood Pharmaceuticals Inc is a specialty and generic drug manufacturing company that operates a human therapeutics segment. The company is focused on advancing product opportunities in areas of large unmet need, including irritable bowel syndrome with constipation, chronic idiopathic constipation, hyperuricemia associated with uncontrolled gout, uncontrolled gastroesophageal reflux disease, and vascular and fibrotic diseases. The company considers collaborative licenses, commercial agreements, and acquisition investment to be potential components of its operational growth plan for expanding its research, development, manufacturing, and marketing capabilities.

Ironwood Pharmaceuticals, Inc. - Class A Common Stock

Ironwood Pharmaceuticals Inc

IRONWOOD PHARMA CL A ORD

<ul>
<li>Ironwood 2024 Financial Guidance. Ironwood continues to expect:</li>
</ul>
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
2024 Guidance
(November 7, 2024)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">U.S. LINZESS Net Sales</td>
<td colspan="1" rowspan="1">$900 - $950 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total Revenue</td>
<td colspan="1" rowspan="1">$350 - $375 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EBITDA1</td>
<td colspan="1" rowspan="1">&gt;$75 million</td>
</tr>
</tbody>
</table>
</figure>

Earnings

News

Guidance

IRWD

Ironwood Pharmaceuticals Continues To Expect 2024 Total Revenue Of $350M-$375M Vs. Consensus Of $357.181M

Ironwood Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) reported quarterly earnings of $0.02 per share which missed the analyst consensus estimate of $0.08 by 75 percent. This is a 83.33 percent decrease over earnings of $0.12 per share from the same period last year. The company reported quarterly sales of $91.592 million which beat the analyst consensus estimate of $91.248 million by 0.38 percent. This is a 19.47 percent decrease over sales of $113.739 million the same period last year.

Earnings Beats

Earnings Misses

Ironwood Pharmaceuticals Q3 2024 Adj. EPS $0.02 Misses $0.08 Estimate, Sales $91.592M Beat $91.248M Estimate

Ironwood Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) is preparing to release its quarterly earnings on Thursday, 2024-11-07. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Ironwood Pharmaceuticals to report an earnings per share (EPS) of $0.08.
Ironwood Pharmaceuticals bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
The company's EPS missed by $0.14 in the last quarter, leading to a 4.69% increase in the share price on the following day.
Here's a look at Ironwood Pharmaceuticals's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.15</td>
<td>0.20</td>
<td>0.21</td>
<td>0.16</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.01</td>
<td>-0.02</td>
<td>0</td>
<td>0.12</td>
</tr>
<tr>
<td>Price Change %</td>
<td>5.0%</td>
<td>4.0%</td>
<td>-3.0%</td>
<td>2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730908958_0.png" alt="eps graph" />
<h3>Ironwood Pharmaceuticals Share Price Analysis</h3>
Shares of Ironwood Pharmaceuticals were trading at $4.49 as of November 05. Over the last 52-week period, shares are down 49.05%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/IRWD/earnings">To track all earnings releases for Ironwood Pharmaceuticals visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: Ironwood Pharmaceuticals

WIIM

Ironwood Pharmaceuticals shares are trading higher after the company announced it will present analyses of the primary endpoint of the pivotal Phase III clinical trial, STARS.

Biotech

Events

General

Ironwood Pharmaceuticals To Present Analyses From Phase III STARS Trial At The American College Of Gastroenterology 2024 Annual Scientific Meeting And Postgraduate Course On Oct. 29; Findings Reinforce The Clinical Profile Of Once-weekly Apraglutide; Ironwood Expects To Complete US Regulatory Submission In Q1 2025

Leerink Partners analyst Faisal Khurshid initiates coverage on Ironwood Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) with a Market Perform rating and announces Price Target of $5.

Price Target

Initiation

Analyst Ratings

Leerink Partners Initiates Coverage On Ironwood Pharmaceuticals with Market Perform Rating, Announces Price Target of $5

Wells Fargo analyst Mohit Bansal maintains Ironwood Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) with a Overweight and lowers the price target from $14 to $12.

Wells Fargo Maintains Overweight on Ironwood Pharmaceuticals, Lowers Price Target to $12

Ironwood Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/irwd#NASDAQ">IRWD</a>) reported break-even earnings for the second quarter of 2024 compared with the Zacks Consensus Estimate of earnings of 17 cents per share. The company had recorded adjusted earnings of 31 cents per share in the year-ago quarter.
Total revenues in the second quarter were $94.4 million, which also missed the Zacks Consensus Estimate of $104 million. The top line decreased almost 12.1% year over year due to the decrease in collaborative arrangements revenues related to the sole marketed drug, Linzess (linaclotide).
<h3>Quarter in Detail</h3>
As reported by partner AbbVie Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abbv#NYSE">ABBV</a>), Ironwood&#39;s marketed product &mdash; Linzess &mdash; generated net sales of $211.2 million in the United States, down 22% year over year, due to continued pricing pressure. However, total prescriptions for Linzess increased 11% year over year.
Ironwood and AbbVie equally share Linzess&#39; brand collaboration profits and losses.
IRWD&#39;s share of net profit from the sales of Linzess in the United States (included in collaborative revenues) totaled $91.4 million, declining almost 12.8% year over year. Linzess share of profit was affected by the $30.0 million gross-to-net change in estimate, which was recorded in the first quarter of 2024.
Linzess&#39; collaborative revenues from U.S. sales missed our model estimate of $103.9 million.
Ironwood has agreements with two partners &mdash; Astellas Pharma and AstraZeneca (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/azn#NASDAQ">AZN</a>) &mdash; related to the development and commercialization of Linzess in Japan and China, respectively.
Both Astellas and AstraZeneca have exclusive rights to develop and market the drug in their respective territories. Astellas and AZN are liable to pay royalties to Ironwood on net Linzess revenues earned in their regions.
Ironwood recorded $3 million in royalties and other revenues, up 15.3% from the prior-year quarter&#39;s figure.
Operating expenses (including research and development expenses, selling, general and administrative expenses and restructuring expenses) in the reported quarter were $69.4 million compared with $1.2 billion recorded in the year-ago quarter.
Operating expenses in the year-ago quarter included a one-time charge of $1.1 billion of acquired in-process research and development (&quot;IPR&amp;D&quot;) from the acquisition of VectivBio.
As of Jun 30, 2024, Ironwood had cash and cash equivalents worth $105.5 million compared with $121.5 million as of Mar 31, 2024.
<h3>2024 Guidance</h3>
Owing to the continued pricing pressure for Linzess resulting from higher-than-expected Medicaid utilization trends, Ironwood lowered its revenue guidance for 2024.
The company now expects total revenues in the range of $350 million-$375 million for 2024 compared with the earlier projection of $405-$425 million. U.S. sales of Linzess are now expected in the range of $900-$950 million. Earlier, the company expected U.S. sales of Linzess to decline in the mid-single digit range in 2024.
In response to the lowered revenue guidance, IRWD stock declined 32.6% on Aug 8.
Shares of Ironwood have plunged 64.6% year to date compared with the industry&#39;s decline of 5.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/df/73846.jpg?v=724416703" /> 
Image Source: Zacks Investment Research
Meanwhile, the company now expects to deliver adjusted EBITDA of more than $75 million for 2024 versus the earlier projection of more than $120 million.
<h3>Pipeline Updates</h3>
With the acquisition of VectivBio last June, Ironwood acquired the rights to develop and commercialize apraglutide.
Ironwood is evaluating the safety and efficacy of once-weekly subcutaneous apraglutide in the pivotal phase III STARS study for reducing parenteral support (PS) dependency in adult patients with short bowel syndrome with intestinal failure (SBS-IF).
IRWD plans to complete a new drug application filing for apraglutide to the FDA for the treatment of adult patients with SBS who are dependent on PS in the first quarter of 2025.
Ironwood is developing two other pipeline candidates, IW-3300 and CNP-104.
A phase II proof-of-concept study is evaluating IW-3300 in a mid-stage study for the potential treatment of visceral pain conditions, such as interstitial cystitis/bladder pain syndrome and endometriosis.
Ironwood, in collaboration with COUR Pharmaceuticals, is developing CNP-104 for treating primary biliary cholangitis (PBC). The latter is evaluating CNP-104 in PBC patients, with top-line data from the same expected later in the third quarter of 2024.
<div class="chart_embed">
<h3>Ironwood Pharmaceuticals, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Ironwood Pharmaceuticals, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/3c/1723207466.png" style="height:265px; width:570px" title="" />
Ironwood Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Ironwood Pharmaceuticals, Inc. Quote
</div>
<h3>Zacks Rank &amp; Stock to Consider</h3>
Ironwood currently carries a Zacks Rank #5 (Strong Sell).
A top-ranked stock in the healthcare sector is Exact Sciences Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/exas#NASDAQ">EXAS</a>), sporting a Zacks Rank #1 (Strong Buy) at present.
In the past 60 days, estimates for Exact Sciences&#39; 2024 loss per share have narrowed from $1.09 to $1.00. Loss per share estimates for 2025 have narrowed from 21 cents to 8 cents. Year to date, shares of EXAS have decreased 22.6%.
EXAS&#39; earnings beat estimates in three of the trailing four quarters while meeting the same on the remaining occasion, the average surprise being 56.19%.
<a href="https://www.zacks.com/stock/news/2320139/ironwood-irwd-q2-earnings-revenues-fall-shy-of-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2320139">To read this article on Zacks.com click here.</a>

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Ironwood Q2 Earnings & Revenues Fall Shy of Estimates

Craig-Hallum analyst Chase Knickerbocker maintains Ironwood Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) with a Buy and lowers the price target from $14 to $10.

Craig-Hallum Maintains Buy on Ironwood Pharmaceuticals, Lowers Price Target to $10

Ironwood Pharmaceuticals shares are trading lower after the company reported worse-than-expected Q2 financial results and revised its FY24 guidance.

<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Prior 2024 Guidance&nbsp; (May 9, 2024)</td>
<td colspan="1" rowspan="1">Revised 2024 Guidance&nbsp; (August 8, 2024)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">U.S. LINZESS Net Sales</td>
<td colspan="1" rowspan="1">Mid-single digits % decline2</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total Revenue</td>
<td colspan="1" rowspan="1">$405 - $425 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EBITDA1</td>
<td colspan="1" rowspan="1">&gt;$120 million&nbsp; Excludes potential CNP-104 option exercise</td>
</tr>
</tbody>
</table>
</figure>

Health Care

Ironwood Has Revised Its FY 2024 Financial Guidance Due To Continued Linzess Pricing Pressure Due To Higher-than-expected Medicaid Utilization Trends For FY 2024, It Expects Sales Of $350M-$375M Compared To Prior Range Of $405M-$425M And Consensus Of $410.05M

Ironwood Pharmaceuticals Q2 2024 Adj. EPS $0.00 Misses $0.15 Estimate, Sales $94.396M Miss $106.996M Estimate

U.S. stocks were mixed, with the Dow Jones index gaining around 50 points on Friday.
Shares of Asana, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) rose sharply during Friday's session after the company announced a $150 million share repurchase program and <a href="https://www.benzinga.com/news/24/06/39422750/asana-announces-150-million-stock-buyback-what-to-know">reaffirmed its forward guidance</a>.
Asana said its board of directors approved a stock repurchase program authorizing the company to repurchase up to $150 million of its Class A common stock through June 30, 2025.
Asana shares jumped 13.4% to $12.90 on Friday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Sarepta Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) shares jumped 39.2% to $171.89 after the company announced FDA approval of an expansion to the labeled indication for ELEVIDYS to include individuals with Duchenne muscular dystrophy with a confirmed mutation in the DMD gene who are at least 4 years of age. Also, multiple firms raised their respective price targets on the stock.</li>
<li>Clover Health Investments, Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOV#NASDAQ">CLOV</a>) shares gained 31% to $1.35 following insider buying from the company's co-founder. After the market close on Thursday, Clover Health filed a Form 4 with the SEC showing that co-founder and executive chair Vivek Garipalli purchased 877,567 shares of Clover Health stock at an average price of $1.14 per share.</li>
<li>Avid Bioservices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDMO#NASDAQ">CDMO</a>) climbed 13.7% to $7.75.</li>
<li>Cabaletta Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CABA#NASDAQ">CABA</a>) rose 9.1% to $9.09.</li>
<li>ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>) climbed 8.7% to $5.65</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) gained 8.6% to $3.8150. The company revealed the upsize and pricing of $1 billion offerings, which comprised $750 million of First Lien Senior Secured Notes, which represents an upsize from the previously announced $500 million.</li>
<li>Studio City International Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSC#NYSE">MSC</a>) rose 8% to $6.75.</li>
<li>Codere Online Luxembourg, S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDRO#NASDAQ">CDRO</a>) gained 7.6% to $7.80.</li>
<li>Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) jumped 7.1% to $10.74.</li>
<li>Ironwood Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) gained 6.5% to $5.94. Ironwood Pharmaceuticals named Sravan K. Emany as Senior Vice President, Chief Operating Officer, and Chief Financial Officer.</li>
<li>Enviri Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVRI#NYSE">NVRI</a>) rose 6% to $8.86.</li>
<li>PTC Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) gained 5.4% to $35.08. B of A Securities analyst Tazeen Ahmad maintained PTC Therapeutics with an Underperform and raised the price target from $25 to $32.</li>
<li>Spirit AeroSystems Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPR#NYSE">SPR</a>) rose 4.8% to $33.19. Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) is reportedly close to finalizing a deal to reacquire Spirit AeroSystems, its former subsidiary, following significant progress in separate negotiations between Spirit and Airbus SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EADSY#OTC">EADSY</a>) to divide Spirit's projects between the two aerospace giants.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/06/39432562/wall-streets-most-accurate-analysts-spotlight-on-3-tech-and-telecom-stocks-delivering-high-dividend">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Tech And Telecom Stocks Delivering High-Dividend Yields</a>

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Asana, Clover Health Investments, Hertz Global And Other Big Stocks Moving Higher On Friday

Management

Ironwood Pharmaceuticals Appoints Sravan K. Emany As Senior Vice President, Chief Operating Officer, And Chief Financial Officer; Emany Previously Served As Senior Vice President, CFO Since December 2021

<ul>
<li>New data highlight both stoma and colon-in-continuity (CIC) patients drove the positive primary endpoint with significant relative change from baseline in weekly parenteral support (PS) volume reduction at week 24</li>
<li>Additional secondary endpoints show significant increases in days off PS and clinical responder rates with apraglutide, including achieving enteral autonomy in both stoma and CIC patients &ndash;</li>
<li>Data from largest GLP-2 Phase III study to date adds to body of evidence on safety and efficacy of once-weekly apraglutide in adults with SBS-IF &ndash;</li>
<li>New details on safety and tolerability to be presented; showing apraglutide to be well tolerated with a safety profile consistent with previously reported apraglutide studies in this patient population</li>
</ul>

Ironwood Pharmaceuticals Will Present Late-breaking Data During The 2024 Digestive Disease Week Meeting From Its Phase 3 STARS Trial Of Apraglutide For Short Bowel Syndrome With Intestinal Failure

Craig-Hallum analyst Chase Knickerbocker maintains Ironwood Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) with a Buy and lowers the price target from $18 to $14.

Craig-Hallum Maintains Buy on Ironwood Pharmaceuticals, Lowers Price Target to $14

Shares of Duolingo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) fell sharply during Thursday's session after the company reported <a href="https://www.benzinga.com/news/earnings/24/05/38715394/duolingo-reports-strong-q1-results-raises-guidance">first quarter financial results.</a>
Duolingo reported quarterly earnings of 57 cents per share which beat the analyst consensus estimate of 27 cents by 111.11%. Quarterly sales came in at $167.6 million which beat the analyst consensus estimate of $165.677 million and is a 44.91% increase from the same period last year, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Duolingo sees second-quarter revenues of between $175 million and $177.5 million, versus the $176.9 million estimate and full-year 2024 revenues of between $726.5 million and $735.5 million, versus the $728.23 million estimate.
Duolingo shares dipped 18.2% to $200.04 on Thursday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Pop Culture Group Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPOP#NASDAQ">CPOP</a>) shares jumped 119% to $3.71 after the company reported a year-over-year increase in H2 2023 revenue results.</li>
<li>Sezzle Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEZL#NASDAQ">SEZL</a>) jumped 69.9% to $75.99 after the company reported a year-over-year increase in first-quarter financial results.</li>
<li>Safe and Green Development Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGD#NASDAQ">SGD</a>) rose 43% to $0.8891. Safe And Green Development announced a partnership to provide mortgage services via the Xene platform.</li>
<li>Embecta Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) shares gained 40.1% to $14.39 after the company reported upbeat second-quarter results and raised FY24 guidance.</li>
<li>Consensus Cloud Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCSI#NASDAQ">CCSI</a>) surged 30.6% to $17.28 following better-than-expected first-quarter results.</li>
<li>Vital Farms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VITL#NASDAQ">VITL</a>) gained 29.8% to $38.83 after the company reported better-than-expected first-quarter sales results and issued FY24 revenue guidance above estimates.</li>
<li>SiTime Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SITM#NASDAQ">SITM</a>) climbed 25.6% to $121.82 following upbeat quarterly results.</li>
<li>Blue Bird Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLBD#NASDAQ">BLBD</a>) rose 25.5% to $47.18 after the company reported better-than-expected second-quarter financial results.</li>
<li>Barnes &amp; Noble Education, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) jumped 25% to $0.3799.</li>
<li>PlayAGS, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGS#NYSE">AGS</a>) gained 24.5% to $11.16 as the company agreed to be acquired by Brightstar Capital Partners for approximately $1.1 billion.</li>
<li>Greenwave Technology Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GWAV#NASDAQ">GWAV</a>) gained 24% to $0.0721. The company said it sees revenues exceeding $40 million during the year ended Dec. 31, 2024.</li>
<li>AerSale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASLE#NASDAQ">ASLE</a>) gained 20.3% to $9.08 following upbeat quarterly earnings.</li>
<li>Zai Lab Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZLAB#NASDAQ">ZLAB</a>) climbed 19.7% to $19.83 after the company reported better-than-expected first-quarter financial results.</li>
<li>Warby Parker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRBY#NYSE">WRBY</a>) rose 19.5% to $14.87 after the company reported a year-over-year increase in first-quarter GAAP EPS results and better-than-expected sales results. Also, the company raised its FY24 net revenue guidance.</li>
<li>Sinclair, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBGI#NASDAQ">SBGI</a>) gained 17.8% to $15.65 following quarterly results.</li>
<li>Inspire Veterinary Partners, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVP#NASDAQ">IVP</a>) shares rose 17.4% to $4.26. Inspire Veterinary Partners recently announced a 1-for-100 reverse stock split.</li>
<li>BigCommerce Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIGC#NASDAQ">BIGC</a>) gained 15.7% to $7.74 after the company reported better-than-expected first-quarter financial results and raised its FY24 revenue guidance.</li>
<li>ZimVie Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZIMV#NASDAQ">ZIMV</a>) gained 15.7% to $17.79 following first-quarter earnings. The company also issued strong FY24 EPS guidance.</li>
<li>Pagaya Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGY#NASDAQ">PGY</a>) rose 15.2% to $12.10 following strong quarterly resulys.</li>
<li>Magnite, Inc.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNI#NASDAQ">MGNI</a>) shares gained 14.6% to $10.20 after the company reported first-quarter financial results.</li>
<li>Compass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) shares rose 14.5% to $3.7550 after posting first-quarter results.</li>
<li>Klaviyo, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVYO#NYSE">KVYO</a>) shares jumped 13.1% to $24.35 after the company reported better-than-expected first-quarter financial results.</li>
<li>Equinix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>) rose 12.7% to $780.98 following first-quarter earnings.</li>
<li>Playtika Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTK#NASDAQ">PLTK</a>) gained 12.5% to $8.72 following strong quarterly sales.</li>
<li>Spectrum Brands Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPB#NYSE">SPB</a>) jumped 12.4% to $95.00 following upbeat earnings.</li>
<li>Camtek Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAMT#NASDAQ">CAMT</a>) rose 12.2% to $94.73 after the company reported a first-quarter beat and issued second-quarter guidance above estimates.</li>
<li>YETI Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YETI#NYSE">YETI</a>) gained 11.6% to $38.85 following better-than-expected first-quarter financial results.</li>
<li>AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) rose 10.4% to $81.69 after the company reported better-than-expected first-quarter financial results.</li>
<li>PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) gained 5.8% to $16.57 after ESPN Bet on Wednesday was named the official sports betting sponsor of the PGA Championship through 2026.</li>
<li>Xiao-I Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIXI#NASDAQ">AIXI</a>) shares gained 5.6% to $1.33 after the company reported a strategic partnership with a leading Hong Kong Insurance Company to enhance AI-driven customer service.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Tivic Health Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIVC#NASDAQ">TIVC</a>) shares fell 60.3% to $0.5318 after the company reported pricing of $4 million public offering.</li>
<li>EMCORE Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMKR#NASDAQ">EMKR</a>) fell 59% to $1.19 after the company reported mixed second-quarter financial results and issued third-quarter revenue guidance below estimates.</li>
<li>CytomX Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTMX#NASDAQ">CTMX</a>) shares fell 46.4% to $2.2450 after the company reported first-quarter financial results and announced initial data from the ongoing CX-904 Phase 1a dose escalation clinical study, demonstrating a favorable safety profile and confirmed anti-cancer activity.</li>
<li>Cardlytics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDLX#NASDAQ">CDLX</a>) declined 40.5% to $8.69 after the company reported mixed first-quarter financial results and issued second-quarter revenue guidance with its midpoint below estimates. Also, Needham maintained a Buy rating on the stock and lowered its price target from $17 to $12.</li>
<li>Syra Health Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYRA#NASDAQ">SYRA</a>) fell 30.8% to $1.48 following a wider-than-expected quarterly loss.</li>
<li>SkyWater Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYT#NASDAQ">SKYT</a>) declined 29.6% to $6.95 following downbeat quarterly results.</li>
<li>iHeartMedia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IHRT#NASDAQ">IHRT</a>) dipped 28.8% to $1.53 following weak quarterly sales.</li>
<li>Delta Apparel, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLA#NYSE">DLA</a>) fell 28.8% to $2.00 following weaker-than-expected second-quarter results.</li>
<li>Cerence Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRNC#NASDAQ">CRNC</a>) dipped 28.1% to $6.88 after the company reported second-quarter financial results and issued FY24 revenue guidance below estimates.</li>
<li>RAPT Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAPT#NASDAQ">RAPT</a>) fell 27.5% to $5.79 following first-quarter results.</li>
<li>Stevanato Group S.p.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STVN#NYSE">STVN</a>) fell 25% to $20.08 following weak earnings.</li>
<li>EPAM Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPAM#NASDAQ">EPAM</a>) dipped 24.3% to $188.56 after the company lowered its FY24 revenue guidance.</li>
<li>Advantage Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADV#NASDAQ">ADV</a>) fell 22.3% to $3.31 following first-quarter results.</li>
<li>Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) tumbled 21% to $30.84 after the company issued weak guidance.</li>
<li>LifeMD, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LFMD#NASDAQ">LFMD</a>) shares fell 20.4% to $9.80 following first-quarter earnings.</li>
<li>B&amp;G Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BGS#NYSE">BGS</a>) declined 19.1% to $9.35 after the company reported worse-than-expected first-quarter financial results.</li>
<li>Alta Equipment Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTG#NYSE">ALTG</a>) dipped 18.5% to $9.45 following a wider-than-expected quarterly loss.</li>
<li>Ironwood Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) dipped 17.2% to $6.72 after the company posted downbeat quarterly results and lowered FY24 forecast.</li>
<li>Forward Air Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>) shares declined 17.4% to $17.77 following weak earnings.</li>
<li>TELUS International (Cda) Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIXT#NYSE">TIXT</a>) fell 15.7% to $6.55 following downbeat sales.</li>
<li>Allegro MicroSystems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGM#NASDAQ">ALGM</a>) dipped 14.3% to $25.18 following fourth-quarter results.</li>
<li>Beyond Meat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>) shares fell 13.5% to $7.10 after the company reported a wider-than-expected loss for its first quarter. The company sees second-quarter revenue to be between $85 million and $90 million and full-year 2024 revenue to be between $315 million and $345 million.</li>
<li>Paycor HCM, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYCR#NASDAQ">PYCR</a>) dipped 12.1% to $15.39. Paycor HCM posted better-than-expected third-quarter earnings on Wednesday. The company said it sees FY24 revenue of $650 million to $652 million, versus estimates of 653.898 million.</li>
<li>Globant S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLOB#NYSE">GLOB</a>) fell 9% to $173.89.</li>
<li>Exact Sciences Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>) shares declined 8.4% to $54.51 after the company reported mixed first-quarter financial results.</li>
<li>Amdocs Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOX#NASDAQ">DOX</a>) dipped 7.7% to $79.34 following second-quarter earnings.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) fell 7.2% to $53.41 after the company reported mixed first-quarter financial results.</li>
<li>Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) shares declined 6.6% to $147.54 following first-quarter results.</li>
<li>argenx SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) shares declined 6.2% to $362.09 after the company reported first quarter financial results and issued a business update.</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) shares fell 3.6% to $102.36 after the company reported fourth-quarter financial results and issued guidance.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/05/38730657/jim-cramer-says-buy-this-tech-stock-right-here-likes-cognex">Jim Cramer Says Buy This Tech Stock Right Here, Likes Cognex</a>

ABNB

AIXI

ALGM

ALTG

ARGX

ASLE

BIGC

BLBD

BNED

BYND

CAMT

CCSI

CDLX

COMP

CPOP

CRNC

CTMX

DUOL

EMBC

EMKR

EPAM

EQIX

FWRD

GLOB

GWAV

IHRT

KVYO

LFMD

MGNI

PENN

PLTK

PYCR

RAPT

RBLX

SBGI

SEDG

SEZL

SITM

SKYT

STVN

SYRA

TIVC

TIXT

VITL

WRBY

YETI

ZIMV

ZLAB

Why Duolingo Shares Are Trading Lower By Around 18%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

<h3>Gainers</h3>
<ul>
<li>Zai Lab (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZLAB#NASDAQ">ZLAB</a>) stock increased by 21.5% to $20.14 during Thursday's pre-market session. The market value of their outstanding shares is at $1.9 billion. As per the news, the Q1 earnings report came out yesterday. </li>
<li>ZimVie (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZIMV#NASDAQ">ZIMV</a>) shares moved upwards by 20.28% to $18.5. The market value of their outstanding shares is at $503.5 million. The company's, Q1 earnings came out yesterday. </li>
<li>Aadi Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AADI#NASDAQ">AADI</a>) shares moved upwards by 16.84% to $2.15. The company's market cap stands at $52.7 million. As per the press release, Q1 earnings came out yesterday. </li>
<li>CEL-SCI (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/CVM#AMEX">CVM</a>) shares moved upwards by 14.38% to $1.59. The company's market cap stands at $85.8 million. </li>
<li>Tarsus Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TARS#NASDAQ">TARS</a>) shares moved upwards by 13.94% to $42.56. The market value of their outstanding shares is at $1.6 billion. As per the press release, Q1 earnings came out yesterday. </li>
<li>Embecta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) shares rose 13.33% to $11.64. The company's market cap stands at $670.2 million. The company's, Q2 earnings came out today. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Tivic Health Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIVC#NASDAQ">TIVC</a>) shares declined by 35.8% to $0.86 during Thursday's pre-market session. The company's market cap stands at $1.2 million. </li>
<li>CytomX Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTMX#NASDAQ">CTMX</a>) shares declined by 30.32% to $2.92. The market value of their outstanding shares is at $198.9 million. As per the press release, Q1 earnings came out yesterday. </li>
<li>CNS Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSP#NASDAQ">CNSP</a>) shares fell 13.84% to $0.21. The market value of their outstanding shares is at $2.1 million. </li>
<li>Ironwood Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) shares decreased by 12.44% to $7.11. The market value of their outstanding shares is at $1.1 billion. As per the news, the Q1 earnings report came out today. </li>
<li>Syra Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYRA#NASDAQ">SYRA</a>) stock declined by 11.22% to $1.9. The company's market cap stands at $12.5 million. The company's, Q1 earnings came out today. </li>
<li>Exact Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>) stock fell 10.56% to $53.2. The market value of their outstanding shares is at $9.7 billion. As per the news, the Q1 earnings report came out yesterday. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AADI

CNSP

TARS

12 Health Care Stocks Moving In Thursday's Pre-Market Session

<ul>
<li>Ironwood 2024 Financial&nbsp;Guidance.&nbsp;Ironwood has revised its FY 2024 financial&nbsp;guidance&nbsp;due to a LINZESS gross-to-net change in estimate related to the year ended December 31, 2023. Ironwood now expects:</li>
</ul>
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
Prior 2024&nbsp;Guidance
(February 15, 2024)
</td>
<td colspan="1" rowspan="1">
Revised 2024&nbsp;Guidance2
(May 9, 2024)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
U.S. LINZESS Net Sales3
</td>
<td colspan="1" rowspan="1">
Low-single digits % growth
</td>
<td colspan="1" rowspan="1">
Mid-single digits % decline
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Total Revenue
</td>
<td colspan="1" rowspan="1">
$435&nbsp;to&nbsp;$455 million
</td>
<td colspan="1" rowspan="1">
$405&nbsp;to&nbsp;$425 million
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Adjusted EBITDA1
</td>
<td colspan="1" rowspan="1">
&gt;$150 million
Excludes potential CNP-104 option exercise
</td>
<td colspan="1" rowspan="1">
&gt;$120 million
Excludes potential CNP-104 option exercise
</td>
</tr>
</tbody>
</table>

Ironwood Pharmaceuticals Lowers 2024 Guidance: Now Expects Sales Between $405M-$425M (Prior $435M-$455M) Vs. 447.9M Consensus; Sees Adjusted EBITDA Above $120M

Ironwood Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRWD#NASDAQ">IRWD</a>) reported quarterly losses of $(0.02) per share which missed the analyst consensus estimate of $0.19 by 110.53 percent. This is a 108 percent decrease over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $74.877 million which missed the analyst consensus estimate of $105.804 million by 29.23 percent. This is a 28.05 percent decrease over sales of $104.061 million the same period last year.

Ironwood Pharmaceuticals Q1 2024 Adj EPS $(0.02) Misses $0.19 Estimate, Sales $74.877M Miss $105.804M Estimate

Warning: IRWD is at high risk of performing badly

Craig-Hallum analyst Chase Knickerbocker maintained a Buy rating on Ironwood Pharma (IRWD – Research Report) today. The company's shares closed las...

Craig-Hallum Sticks to Its Buy Rating for Ironwood Pharma (IRWD)

Ironwood Pharmaceuticals Non-GAAP EPS of $0.02 misses by $0.08, revenue of $91.6M beats by $0.3M

JMP Securities analyst Jason Butler has reiterated their bullish stance on IRWD stock, giving a Buy rating today. Jason Butler's rating is based on...

Positive Outlook for Ironwood Pharmaceuticals: LINZESS Growth and Apraglutide Potential Drive Buy Rating

Press Releases

Ironwood Pharmaceuticals Reports First Quarter 2024 Results

Ironwood Late-Breaker Oral Presentation at Digestive Disease Week® Reinforces Potential of Once-Weekly Apraglutide for Adults with Short Bowel Syndrome with Intestinal Failure (SBS-IF)

Ironwood Pharmaceuticals to Participate in the Jefferies Global Healthcare Conference

Memo Therapeutics AG appoints Paul Carter as Chairperson

Ironwood Pharmaceuticals to Host Second Quarter 2024 Investor Update Call

Ironwood Pharmaceuticals Reports Second Quarter 2024 Results

Ironwood Pharmaceuticals to Participate in the 2024 Wells Fargo Healthcare Conference

Ironwood Pharmaceuticals to Host Third Quarter 2024 Investor Update Call

Once-Weekly Apraglutide Showed Consistent Treatment Effect Across Baseline Demographics and Disease Characteristics in Adults with Short Bowel Syndrome with Intestinal Failure (SBS-IF), According to New STARS Phase III Data from Ironwood at ACG 2024

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