Ironwood Pharmaceuticals, Inc. (IRWD) Stock

Ironwood Pharmaceuticals, Inc. (IRWD) is a Healthcare stock trading at $4.29 (as of 2026-08-21), with a market capitalization of $708.05M and a trailing P/E of 4.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Ironwood Pharmaceuticals, Inc. is a healthcare company focused on developing and commercializing gastrointestinal products. It markets linaclotide for IBS-C and chronic idiopathic constipation under LINZESS and CONSTELLA, and is also developing IW-3300 for visceral pain conditions and CNP-104 for biliary cholangitis.

Understand Ironwood Pharmaceuticals, Inc.: how it makes money

Ironwood Pharmaceuticals develops and commercializes gastrointestinal medicines, selling linaclotide branded as LINZESS in the United States and Mexico and CONSTELLA in Canada and the European Union, and earning income primarily tied to its share of LINZESS U.S. net profits through collaborative arrangements.

The profit engine is linked to LINZESS U.S. commercial economics through collaborative arrangements, where Ironwood receives a share of LINZESS U.S. net profits rather than sole product control.

Revenue by segment (latest quarter)
LINZESS U.S. profit-share$0.1B
Royalties and other$0.0B

Business quality (Solid): Strong operating visibility around LINZESS demand and market share, but limited detail on broader segment revenue lines and heavy reliance on one product commercial track plus collaboration economics.

Valuation: At 6× earnings, IRWD trades 66% below the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

  • LINZESS remains a large GI franchise: The company markets linaclotide under LINZESS (United States and Mexico) and CONSTELLA (Canada and the European Union), supported by high LINZESS category share (83%) and LINZESS market share (45%).
  • Collaboration-linked cash flow has a measurable driver: Operating results are closely tied to collaboration revenue related to Ironwood share of LINZESS United States net profits (0.1B), which is supported by reported prescription demand (48,000,000).
  • Pipeline adds potential upside in visceral pain: Ironwood is also developing IW-3300, a GC-C agonist for visceral pain conditions including interstitial cystitis/bladder.

Bear case

  • Dependence on LINZESS and collaboration economics: A large portion of the company’s recent reported revenue categories shown here is tied to its collaboration share of LINZESS U.S. net profits, meaning changes in LINZESS economics could flow through to results.
  • Limited diversification visible in provided revenue categories: The provided revenue categories show Royalties and Other Revenue as 0.0B, so there is limited evidence here of other meaningful recurring revenue streams.
  • Commercial and pipeline execution risk remains: While IW-3300 is in development for visceral pain conditions, no performance or approval outcomes are provided in the facts here, so timing and success are uncertain.
Valuation — source: SEC EDGAR (first-party)
Price$4.29
Market Cap$708.05M
P/E Ratio4.1
EV / EBITDA2.1
Price / Sales1.58
FCF Yield7.4%
DCF Value (model)$82.75
DCF Upside vs Price1831.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$296.15M
Net Margin8.1%
Revenue Growth (YoY)-15.7%
EPS Growth (YoY)1400.0%
FCF Growth (YoY)22.8%
Financial Health — source: SEC EDGAR
Altman Z-Score-3.61 (distress)
Valuation vs Sector & Industry
Stock P/E4.1
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
vs Sector-81.2%
vs Industry-76.2%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock Fund Advisors ($98.65M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOThomas A. McCourt
Employees253
CountryUS
IPO Date2010-02-03

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IRWD earnings history · IRWD institutional & insider holders · IRWD KPIs & operating metrics · IRWD financials · IRWD investor presentations & press releases · IRWD SEC filings · IRWD peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.