Tearsheet
IRWD Home Investment Highlights Valuation, Metrics & Events Price Chart Why The Stock Moved Return vs. Risk About IRWD Interactive Breakdown Better Bets vs. IRWD Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Trade Sentinel Industry Resource Links External Quote Links

Ironwood Pharmaceuticals (IRWD)

Market Price (4/14/2026): $3.7 | Market Cap: $601.0 Mil
Sector: Health Care | Industry: Pharmaceuticals

Ironwood Pharmaceuticals (IRWD)

Market Price (4/14/2026): $3.7
Market Cap: $601.0 Mil
Sector: Health Care
Industry: Pharmaceuticals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 40%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 43%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 43%

Attractive yield
FCF Yield is 21%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.

Weak multi-year price returns
2Y Excs Rtn is -87%, 3Y Excs Rtn is -134%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 64%

Stock price has recently run up significantly
6M Rtn6 month market price return is 147%, 12M Rtn12 month market price return is 286%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -16%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.5%, Rev Chg QQuarterly Revenue Change % is -47%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 219%

High stock price volatility
Vol 12M is 116%

Key risks
IRWD key risks include [1] a significant regulatory delay for its potential blockbuster drug apraglutide, Show more.

0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 40%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 43%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 43%
2 Attractive yield
FCF Yield is 21%
3 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -87%, 3Y Excs Rtn is -134%
5 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
6 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 64%
7 Stock price has recently run up significantly
6M Rtn6 month market price return is 147%, 12M Rtn12 month market price return is 286%
8 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -16%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.5%, Rev Chg QQuarterly Revenue Change % is -47%
9 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 219%
10 High stock price volatility
Vol 12M is 116%
11 Key risks
IRWD key risks include [1] a significant regulatory delay for its potential blockbuster drug apraglutide, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Ironwood Pharmaceuticals (IRWD) stock has gained about 10% since 12/31/2025 because of the following key factors:

1. Robust 2026 Financial Guidance Significantly Exceeded Expectations.

Ironwood Pharmaceuticals' stock gained following its January 2, 2026, announcement of strong financial guidance for the full year 2026. The company projected LINZESS U.S. net sales between $1.125 billion and $1.175 billion, a substantial increase from its 2025 guidance of $860-$890 million. Total revenue was forecast to be $450 million to $475 million (up from $290-$310 million in 2025), and adjusted EBITDA was anticipated to exceed $300 million, more than double the 2025 projection of over $135 million. This outlook was driven by improved net pricing and expected low-single-digit percentage demand growth for LINZESS.

2. Advancement of Apraglutide Clinical Program and Improved Cash Position.

Further contributing to the positive trend was the advancement of Ironwood's pipeline, particularly with apraglutide. The company finalized key design elements with the FDA for the confirmatory Phase 3 trial (STARS-2) of apraglutide for short bowel syndrome with intestinal failure (SBS-IF), with site initiations expected in the second quarter of 2026. Additionally, Ironwood reported a strong cash position, ending the fourth quarter of 2025 with $215.5 million in cash and cash equivalents, significantly up from $88.6 million at the end of 2024.

Show more

Stock Movement Drivers

Fundamental Drivers

The 8.3% change in IRWD stock from 12/31/2025 to 4/13/2026 was primarily driven by a 28.9% change in the company's P/E Multiple.
(LTM values as of)123120254132026Change
Stock Price ($)3.373.658.3%
Change Contribution By: 
Total Revenues ($ Mil)339296-12.6%
Net Income Margin (%)8.4%8.1%-3.7%
P/E Multiple19.124.728.9%
Shares Outstanding (Mil)162162-0.1%
Cumulative Contribution8.3%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/13/2026
ReturnCorrelation
IRWD8.3% 
Market (SPY)-5.4%24.8%
Sector (XLV)-4.4%21.0%

Fundamental Drivers

The 178.6% change in IRWD stock from 9/30/2025 to 4/13/2026 was primarily driven by a 191.6% change in the company's P/S Multiple.
(LTM values as of)93020254132026Change
Stock Price ($)1.313.65178.6%
Change Contribution By: 
Total Revenues ($ Mil)309296-4.0%
P/S Multiple0.72.0191.6%
Shares Outstanding (Mil)162162-0.4%
Cumulative Contribution178.6%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/13/2026
ReturnCorrelation
IRWD178.6% 
Market (SPY)-2.9%25.2%
Sector (XLV)6.8%23.3%

Fundamental Drivers

The 148.3% change in IRWD stock from 3/31/2025 to 4/13/2026 was primarily driven by a 3138.4% change in the company's Net Income Margin (%).
(LTM values as of)33120254132026Change
Stock Price ($)1.473.65148.3%
Change Contribution By: 
Total Revenues ($ Mil)351296-15.7%
Net Income Margin (%)0.3%8.1%3138.4%
P/E Multiple267.124.7-90.8%
Shares Outstanding (Mil)160162-1.6%
Cumulative Contribution148.3%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/13/2026
ReturnCorrelation
IRWD148.3% 
Market (SPY)16.3%14.0%
Sector (XLV)2.7%19.5%

Fundamental Drivers

The -65.3% change in IRWD stock from 3/31/2023 to 4/13/2026 was primarily driven by a -81.0% change in the company's Net Income Margin (%).
(LTM values as of)33120234132026Change
Stock Price ($)10.523.65-65.3%
Change Contribution By: 
Total Revenues ($ Mil)411296-27.9%
Net Income Margin (%)42.6%8.1%-81.0%
P/E Multiple9.224.7167.9%
Shares Outstanding (Mil)153162-5.6%
Cumulative Contribution-65.3%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 4/13/2026
ReturnCorrelation
IRWD-65.3% 
Market (SPY)63.3%14.4%
Sector (XLV)19.7%17.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
IRWD Return2%6%-8%-61%-24%8%-68%
Peers Return-8%22%32%3%14%-1%72%
S&P 500 Return27%-19%24%23%16%-0%81%

Monthly Win Rates [3]
IRWD Win Rate42%42%42%33%42%75% 
Peers Win Rate43%50%53%52%53%45% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
IRWD Max Drawdown-21%-15%-33%-71%-87%-10% 
Peers Max Drawdown-27%-35%-13%-15%-25%-10% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: BHC, ABBV, ARDX, AMGN, VTRS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/13/2026 (YTD)

How Low Can It Go

Unique KeyEventIRWDS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-40.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven69.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven145 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-38.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven63.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven1,414 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-55.8%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven126.3%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days

Compare to BHC, ABBV, ARDX, AMGN, VTRS

In The Past

Ironwood Pharmaceuticals's stock fell -40.9% during the 2022 Inflation Shock from a high on 10/8/2021. A -40.9% loss requires a 69.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Ironwood Pharmaceuticals (IRWD)

Ironwood Pharmaceuticals, Inc., a healthcare company, focuses on the development and commercialization of gastrointestinal (GI) products. It markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adults suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and Mexico, as well as under the CONSTELLA name in the Canada and European Union. The company is also developing IW-3300, a GC-C agonist for the treatment of visceral pain conditions, including interstitial cystitis/bladder pain syndrome and endometriosis; and CNP-104, an immune nanoparticle for the treatment of biliary cholangitis. The company has strategic partnerships with AbbVie Inc., AstraZeneca AB, and Astellas Pharma Inc. for the development and commercialization of linaclotide. The company was formerly known as Microbia, Inc. and changed its name to Ironwood Pharmaceuticals, Inc. in April 2008. Ironwood Pharmaceuticals, Inc. was incorporated in 1998 and is headquartered in Boston, Massachusetts.

AI Analysis | Feedback

Here are 1-3 brief analogies for Ironwood Pharmaceuticals (IRWD):

  • Gilead Sciences for gastrointestinal health.
  • Vertex Pharmaceuticals for digestive disorders.

AI Analysis | Feedback

  • linaclotide (LINZESS/CONSTELLA): A guanylate cyclase type-C agonist for the treatment of irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC).
  • IW-3300: A GC-C agonist in development for the treatment of visceral pain conditions, including interstitial cystitis/bladder pain syndrome and endometriosis.
  • CNP-104: An immune nanoparticle in development for the treatment of biliary cholangitis.

AI Analysis | Feedback

Ironwood Pharmaceuticals (IRWD) sells primarily to other companies through strategic partnerships for the development and commercialization of its products, particularly linaclotide (LINZESS/CONSTELLA).

Its major customer companies (commercial partners) are:

  • AbbVie Inc. (Symbol: ABBV)
  • AstraZeneca AB (Symbol: AZN)
  • Astellas Pharma Inc. (Symbol: ALPMY)

AI Analysis | Feedback

```html
  • AbbVie Inc. (ABBV)
```

AI Analysis | Feedback

Thomas McCourt, Chief Executive Officer
Mr. McCourt joined Ironwood Pharmaceuticals in 2009 and became Chief Executive Officer and a member of the board of directors in 2021. He previously served as president and interim chief executive officer. Mr. McCourt was instrumental in the success of LINZESS™. Before joining Ironwood, he led the U.S. brand team for denosumab at Amgen Inc. He also worked for Novartis AG for seven years, where he directed the launch and growth of ZELNORM™ for IBS-C and CIC, and held several senior commercial roles. Earlier in his career, he was part of the founding team at Astra Merck Inc., where he led the development of the medical affairs and science liaison group and served as brand manager for PRILOSEC® and NEXIUM®. He currently serves on the board of directors of Pliant Therapeutics, Inc. and on the board of trustees for the American Society of Gastrointestinal Endoscopy (ASGE).

Greg Martini, Chief Financial Officer
Mr. Martini has served as Chief Financial Officer of Ironwood Pharmaceuticals since January 2025. In this role, he oversees investor relations, corporate communications, finance and accounting, information technology, facilities, and procurement. He joined Ironwood in 2017 and previously held roles of increasing responsibility, including Vice President, Strategic Finance and Investor Relations. Prior to joining Ironwood, Mr. Martini served in various financial and corporate development roles at Thermo Fisher Scientific, Ernst & Young, and Raytheon.

Michael Shetzline, M.D., Ph.D., Senior Vice President, Chief Medical Officer and Head of Research and Development
Dr. Shetzline has served as Chief Medical Officer and Head of Research and Development at Ironwood Pharmaceuticals since October 2021, and previously as Chief Medical Officer and Head of Drug Development from January 2019 to October 2021. He is a gastroenterologist and internist with over 25 years of experience in the biopharmaceutical industry and academia.

John Minardo, Senior Vice President, Chief Legal Officer
Mr. Minardo has served as Chief Legal Officer of Ironwood Pharmaceuticals since August 2021. Before joining Ironwood, he was Vice President, General Counsel, and a member of the executive leadership team at Seqirus, a pharmaceutical company. In that role, from November 2015 to July 2021, he led a global legal team responsible for business transactions, regulatory matters, corporate governance, compliance, and intellectual property.

Tammi Gaskins, Chief Commercial Officer
Ms. Gaskins has served as Chief Commercial Officer of Ironwood Pharmaceuticals since January 2025. She joined the company in July 2020 as Senior Director of Marketing and later served as Vice President of Brand Management. Prior to her time at Ironwood, Ms. Gaskins spent more than 20 years at AstraZeneca, where her roles included Executive Director of the Diabetes Franchise and Commercial Director for the Middle East Area.

AI Analysis | Feedback

The key risks to Ironwood Pharmaceuticals' business include its significant dependence on its primary product, LINZESS, which faces upcoming patent expirations, and setbacks in its product pipeline, hindering revenue diversification. Additionally, the company faces pricing pressures and revenue volatility.

  1. Dependence on LINZESS and Impending Patent Expiry: Ironwood Pharmaceuticals is heavily reliant on LINZESS (linaclotide) as its single commercial product, which generates a substantial portion of its revenue. The primary U.S. composition of matter patent for linaclotide is set to expire in 2026, though some formulation patents may extend into the early 2030s. However, settlement agreements with generic manufacturers permit the entry of generic versions of LINZESS (145 mcg and 290 mcg) into the U.S. market as early as March 2029, with the 72 mcg generic version potentially following in August 2030. This looming "patent cliff" presents a significant long-term risk to the company's revenue streams.
  2. Pipeline Setbacks and Limited Diversification: The company has experienced notable delays and failures in its product pipeline, which is critical for future growth and diversification away from LINZESS. In April 2025, the U.S. Food and Drug Administration (FDA) required a confirmatory Phase 3 trial for apraglutide, delaying its potential approval and the company's efforts to diversify its revenue. Furthermore, Ironwood opted not to pursue an exclusive license for CNP-104 in September 2024 after its topline data proved disappointing, removing another potential growth catalyst from the pipeline.
  3. Pricing Pressures and Revenue Volatility: Despite consistent prescription demand growth for LINZESS, the company has faced challenges with its net sales due to pricing pressures. Full-year U.S. net sales of LINZESS declined in 2025, largely attributed to net price erosion from factors like Medicare Part D redesign and other pricing challenges. Anticipated legislative changes are expected to increase Medicaid exposure in 2026, which could further limit net price realization and impact profit margins. The company has also experienced volatility in its quarterly revenue performance.

AI Analysis | Feedback

null

AI Analysis | Feedback

Addressable Markets for Ironwood Pharmaceuticals' Main Products

Ironwood Pharmaceuticals (IRWD) focuses on gastrointestinal (GI) products. The addressable markets for its main products and pipeline candidates are detailed below:

  • Linaclotide (LINZESS/CONSTELLA) for Irritable Bowel Syndrome with Constipation (IBS-C) and Chronic Idiopathic Constipation (CIC):
    • The global Irritable Bowel Syndrome (IBS) treatment market was estimated at USD 3.64 billion in 2024 and is projected to reach USD 6.02 billion by 2030.
    • The IBS-C drug market was valued at USD 2.30 billion in 2025 and is projected to reach USD 3.08 billion by 2035 globally.
    • In 2024, the IBS-C segment represented approximately 29% of the global IBS market, valued at around USD 1.11 billion, and is expected to show the fastest growth.
    • North America, particularly the United States, holds a dominant market share in the IBS-C drugs market due to high prevalence and awareness. The United States accounted for around USD 1.6 billion of the total IBS market size in the seven major markets in 2023.
    • Europe also represents a substantial market for IBS treatment, with countries like Germany and the UK contributing significantly.
  • IW-3300 for Visceral Pain Conditions (Interstitial Cystitis/Bladder Pain Syndrome and Endometriosis):
    • Interstitial Cystitis/Bladder Pain Syndrome:
      • The global interstitial cystitis drugs market was valued at USD 2.74 billion in 2024 and is poised to grow to USD 4.32 billion by 2033.
      • The interstitial cystitis market size across the top 7 major markets (US, EU4, UK, and Japan) reached a value of USD 2.0 billion in 2024 and is expected to reach USD 3.5 billion by 2035.
      • North America was the largest region in the interstitial cystitis market in 2024. The United States has the largest patient pool and represents the biggest market for interstitial cystitis treatment.
    • Endometriosis:
      • The global endometriosis treatment market size was valued at USD 1.2 billion in 2021 and is projected to reach USD 3.9 billion by 2031.
      • In 2023, the total endometriosis market size in the 7MM (United States, Germany, France, Italy, Spain, UK, and Japan) was approximately USD 2.3 billion.
      • The United States accounted for the highest market size, approximately USD 1.4 billion, within the 7MM in 2023.
      • North America held the largest share of the global endometriosis treatment market in 2024.
  • CNP-104 for Biliary Cholangitis (Primary Biliary Cholangitis - PBC):
    • The global primary biliary cholangitis therapeutics market size was valued at USD 686.5 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2030.
    • Another estimate places the global Primary Biliary Cholangitis market size at USD 1.05 billion in 2024, projected to reach USD 2.35 billion by 2032.
    • North America is estimated to contribute 50% to the growth of the global market for PBC therapeutics between 2023 and 2028.
    • In 2023, the global primary biliary cholangitis (PBC) therapeutics industry was valued at USD 677.2 million.

AI Analysis | Feedback

Ironwood Pharmaceuticals (IRWD) anticipates several key drivers for its future revenue growth over the next 2-3 years, primarily centered around its flagship product LINZESS and the advancement of its pipeline asset, apraglutide.

The expected drivers include:

  1. Improved LINZESS Net Price: Ironwood expects improved net pricing for LINZESS in 2026. This is driven by a reduction in the list price effective January 1, 2026, which is projected to decrease certain mandatory government rebates, thereby leading to higher net sales for the drug.
  2. Continued LINZESS Prescription Demand Growth: The company foresees sustained, albeit low single-digit, prescription demand growth for LINZESS. This follows a strong performance in 2025, where LINZESS EUTRx demand increased by 11% year-over-year, solidifying its position as a leading prescription for IBS-C and CIC.
  3. Expanded LINZESS Indication for Pediatric Patients: Revenue growth is also expected from the expanded FDA approval of LINZESS in November 2025 for the treatment of irritable bowel syndrome with constipation (IBS-C) in pediatric patients aged 7 and up. This marks the first prescription approval for this age group (7-17 years).
  4. Advancement of Apraglutide: Ironwood considers apraglutide, a GLP-2 analog for short bowel syndrome with intestinal failure (SBS-IF), a significant future revenue driver. The company has finalized the design for a confirmatory Phase 3 clinical trial (STARS-2), with site initiations planned for the second quarter of 2026. If approved, apraglutide has the potential to achieve peak U.S. net sales exceeding $700 million.

AI Analysis | Feedback

Ironwood Pharmaceuticals (IRWD) has made several capital allocation decisions over the last 3-5 years, focusing on share repurchases, strategic acquisitions, and internal funding for pipeline development.

Share Repurchases

  • In May 2021, Ironwood Pharmaceuticals' Board of Directors authorized a new share repurchase program, allowing the company to repurchase up to $150 million of its outstanding common stock through December 2022.

Share Issuance

  • Information regarding significant primary share issuances by Ironwood Pharmaceuticals was not readily available within the provided timeframe.

Inbound Investments

  • Ironwood's VectivBio subsidiary amended a key license with Ferring, which included $12.5 million in milestone payments and ongoing royalties. This settlement also clarified intellectual property rights, reducing a legal uncertainty.

Outbound Investments

  • Ironwood acquired the rights to develop and commercialize apraglutide through the acquisition of VectivBio in June 2023. This acquisition expanded Ironwood's pipeline, particularly with apraglutide for short bowel syndrome with intestinal failure (SBS-IF).
  • The company decided not to exercise its option on CNP-104 for primary biliary cholangitis (PBC) following disappointing data.

Capital Expenditures

  • Strong cash flow projections for Ironwood Pharmaceuticals are expected to allow the company to fully fund the upcoming clinical trials for its pipeline assets, such as the confirmatory Phase 3 trial for apraglutide in the first half of 2026, without the need for external capital. This indicates a focus on internally financing research and development.

Better Bets vs. Ironwood Pharmaceuticals (IRWD)

Latest Trefis Analyses

Title
0ARTICLES

Trade Ideas

Select ideas related to IRWD.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PGNY_3312026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03312026PGNYProgynyDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap		0.0%0.0%0.0%
CNC_3272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03272026CNCCenteneDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap		2.3%2.3%-0.6%
OSCR_3272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG03272026OSCROscar HealthDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap		3.0%3.0%-2.6%
WAT_3202026_Monopoly_xInd_xCD_Getting_Cheaper03202026WATWatersMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-0.4%-0.4%-3.3%
GILD_3202026_Quality_Momentum_RoomToRun_10%03202026GILDGilead SciencesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		1.6%1.6%-2.2%
IRWD_3312021_Insider_Buying_GTE_1Mil_EBITp+DE_V203312021IRWDIronwood PharmaceuticalsInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		18.4%12.5%-9.1%

Recent Active Movers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Peers to compare with:

Financials

IRWDBHCABBVARDXAMGNVTRSMedian
NameIronwood.Bausch H.AbbVie Ardelyx Amgen Viatris  
Mkt Price3.655.72206.476.33349.8213.8310.08
Mkt Cap0.62.1365.21.5188.215.99.0
Rev LTM29610,26661,16040736,75114,30012,283
Op Inc LTM1192,21420,091-419,0802541,234
FCF LTM12799317,816-448,1001,8511,422
FCF 3Y Avg1381,00319,237-608,6182,0401,522
CFO LTM1271,40019,030-429,9582,3161,858
CFO 3Y Avg1381,34320,225-599,9732,5061,925

Growth & Margins

IRWDBHCABBVARDXAMGNVTRSMedian
NameIronwood.Bausch H.AbbVie Ardelyx Amgen Viatris  
Rev Chg LTM-15.7%6.7%8.6%22.1%10.0%-3.0%7.6%
Rev Chg 3Y Avg-9.5%8.1%1.9%109.6%11.9%-4.2%5.0%
Rev Chg Q-47.3%9.3%10.0%7.8%8.6%5.0%8.2%
QoQ Delta Rev Chg LTM-12.6%2.4%2.5%2.3%2.2%1.2%2.2%
Op Mgn LTM40.1%21.6%32.8%-10.1%24.7%1.8%23.1%
Op Mgn 3Y Avg35.1%19.7%26.3%-23.1%24.8%5.6%22.3%
QoQ Delta Op Mgn LTM-2.3%1.7%8.8%-0.5%0.6%-0.9%0.0%
CFO/Rev LTM42.9%13.6%31.1%-10.4%27.1%16.2%21.6%
CFO/Rev 3Y Avg37.9%14.0%35.5%-32.0%30.5%16.9%23.7%
FCF/Rev LTM42.9%9.7%29.1%-10.8%22.0%12.9%17.5%
FCF/Rev 3Y Avg37.9%10.5%33.8%-32.3%26.4%13.7%20.1%

Valuation

IRWDBHCABBVARDXAMGNVTRSMedian
NameIronwood.Bausch H.AbbVie Ardelyx Amgen Viatris  
Mkt Cap0.62.1365.21.5188.215.99.0
P/S2.00.26.03.85.11.12.9
P/EBIT5.81.138.5-47.816.0-5.03.4
P/E24.713.586.4-25.024.4-4.519.0
P/CFO4.71.519.2-36.318.96.95.8
Total Yield4.1%7.4%4.3%-4.0%6.8%-18.5%4.2%
Dividend Yield0.0%0.0%3.2%0.0%2.7%3.5%1.4%
FCF Yield 3Y Avg16.0%35.5%6.0%-4.4%5.6%14.6%10.3%
D/E1.09.80.20.10.30.90.6
Net D/E0.69.20.2-0.00.20.80.4

Returns

IRWDBHCABBVARDXAMGNVTRSMedian
NameIronwood.Bausch H.AbbVie Ardelyx Amgen Viatris  
1M Rtn8.3%15.3%-6.0%9.5%-4.5%2.4%5.3%
3M Rtn-18.3%-23.6%-5.4%-14.0%8.2%10.0%-9.7%
6M Rtn146.6%-6.4%-9.0%26.3%21.3%43.1%23.8%
12M Rtn286.0%32.4%21.9%41.9%26.2%92.0%37.2%
3Y Rtn-66.8%-23.6%41.1%34.4%53.7%60.3%37.8%
1M Excs Rtn4.8%10.1%-11.6%8.6%-8.1%-3.0%0.9%
3M Excs Rtn-8.9%-21.7%-4.3%-17.1%9.2%10.5%-6.6%
6M Excs Rtn104.0%-12.7%-11.4%22.9%17.8%39.0%20.3%
12M Excs Rtn228.2%-12.2%-7.5%14.5%-2.2%59.6%6.1%
3Y Excs Rtn-133.8%-91.3%-25.2%-25.5%-16.7%-6.9%-25.4%

Comparison Analyses

null

FDA Approved Drugs Data

Expand for More
Post-Approval Fwd Returns
FDA
App #		Brand
Name		Generic
Name		Dosage
Form		FDA
Approval		3M
Rtn		6M
Rtn		1Y
Rtn		2Y
Rtn		Total
Rtn
NDA209203  DUZALLOallopurinoltablet81820177.0%5.9%26.1%-29.7%-70.8%
NDA207988  ZURAMPIClesinuradtablet12222015-7.1%8.9%37.5%36.2%-63.6%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Human therapeutics443411413382380
Sale of active pharmaceutical ingredient 01849
Total443411414390428


Price Behavior

Price Behavior
Market Price$3.65 
Market Cap ($ Bil)0.6 
First Trading Date02/03/2010 
Distance from 52W High-32.3% 
   50 Days200 Days
DMA Price$3.81$2.57
DMA Trendupdown
Distance from DMA-4.2%42.2%
 3M1YR
Volatility83.9%112.3%
Downside Capture0.960.70
Upside Capture137.50268.71
Correlation (SPY)24.8%21.3%
IRWD Betas & Captures as of 3/31/2026

 1M2M3M6M1Y3Y
Beta3.311.471.922.220.870.85
Up Beta3.26-0.05-0.561.43-0.240.16
Down Beta2.380.610.250.910.921.04
Up Capture488%68%428%755%442%46%
Bmk +ve Days7162765139424
Stock +ve Days10182957112342
Down Capture245%244%218%151%132%108%
Bmk -ve Days12233358110323
Stock -ve Days11223263130382

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with IRWD
IRWD269.6%116.6%1.65-
Sector ETF (XLV)8.1%16.3%0.3021.0%
Equity (SPY)18.7%13.7%1.0620.7%
Gold (GLD)53.7%27.6%1.555.5%
Commodities (DBC)25.2%16.2%1.372.3%
Real Estate (VNQ)14.8%14.0%0.7613.9%
Bitcoin (BTCUSD)-11.7%43.0%-0.1717.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with IRWD
IRWD-18.8%71.8%0.03-
Sector ETF (XLV)6.5%14.6%0.2618.1%
Equity (SPY)11.1%17.0%0.5016.2%
Gold (GLD)21.8%17.8%1.012.4%
Commodities (DBC)11.7%18.8%0.511.7%
Real Estate (VNQ)3.7%18.8%0.1014.3%
Bitcoin (BTCUSD)4.6%56.6%0.306.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with IRWD
IRWD-8.9%60.3%0.11-
Sector ETF (XLV)9.7%16.5%0.4826.4%
Equity (SPY)13.9%17.9%0.6724.3%
Gold (GLD)14.2%15.9%0.740.9%
Commodities (DBC)8.8%17.6%0.428.5%
Real Estate (VNQ)5.2%20.7%0.2217.2%
Bitcoin (BTCUSD)67.5%66.9%1.073.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date3312026
Short Interest: Shares Quantity17.9 Mil
Short Interest: % Change Since 315202630.7%
Average Daily Volume3.8 Mil
Days-to-Cover Short Interest4.7 days
Basic Shares Quantity162.4 Mil
Short % of Basic Shares11.0%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/25/2026-11.3%-4.0%-15.8%
11/10/202531.8%63.5%92.2%
8/7/20259.3%35.4%43.5%
2/27/2025-5.3%-9.9%-14.6%
11/7/2024-7.5%-14.6%-31.9%
8/8/2024-32.6%-27.8%-25.0%
5/9/2024-17.0%-19.2%-21.8%
2/15/2024-3.0%-3.8%-41.6%
...
SUMMARY STATS   
# Positive101111
# Negative131212
Median Positive3.4%5.4%13.5%
Median Negative-3.5%-6.7%-15.2%
Max Positive31.8%63.5%92.2%
Max Negative-32.6%-27.8%-41.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/26/202610-K
09/30/202511/10/202510-Q
06/30/202508/11/202510-Q
03/31/202505/12/202510-Q
12/31/202403/31/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/16/202410-K
09/30/202311/09/202310-Q
06/30/202308/09/202310-Q
03/31/202305/04/202310-Q
12/31/202202/16/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q

Recent Forward Guidance [BETA]

Latest: Q4 2025 Earnings Reported 2/25/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 LINZESS U.S. Net Sales1.12 Bil1.15 Bil1.18 Bil0 AffirmedGuidance: 1.15 Bil for 2026
2026 Total Revenue450.00 Mil462.50 Mil475.00 Mil0 AffirmedGuidance: 462.50 Mil for 2026
2026 Adjusted EBITDA 300.00 Mil 0 AffirmedGuidance: 300.00 Mil for 2026

Prior: Q4 2025 Earnings Reported 1/2/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 LINZESS U.S. net sales1.12 Bil1.15 Bil1.18 Bil31.4% Higher NewActual: 875.00 Mil for 2025
2026 Total revenue450.00 Mil462.50 Mil475.00 Mil54.2% Higher NewActual: 300.00 Mil for 2025
2026 Adjusted EBITDA 300.00 Mil 122.2% Higher NewActual: 135.00 Mil for 2025

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Gaskins, Tammi LChief Commercial OfficerDirectSell111920253.326,01619,973781,076Form
2Gaskins, Tammi LChief Commercial OfficerDirectSell81320250.841,3161,105202,675Form
3John, MinardoChief Legal OfficerDirectSell81320250.847,7546,513336,318Form
4Martini, Gregory SChief Financial OfficerDirectSell81320250.841,2651,063153,338Form
5Silver, RonaldPrincipal Accounting OfficerDirectSell81320250.842,8462,391232,520Form

Industry Resources

External Quote Links


Prefer one of these to Trefis? Tell us why.