Mizuho Securities Raises Price Target on Ironwood Pharma (IRWD) Following 3Q Beat
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Mizuho Securities reiterated a Buy rating on Ironwood Pharmaceuticals (NASDAQ: IRWD), and raised the price target to $20.00 (from $19.00), following the company's 3Q earnings report. IRWD reported revenues of $66.1M and a loss of ($0.18) vs. StreetAccount consensus of $59.8M and ($0.24).
Analyst Irina Koffler commented, "IRWD remains a calm refuge in our volatile sector and we are raising our PT to $20 after a strong 3Q:16 beat. We see the stock as meaningfully undervalued and less risky than the majority in our group."
Shares of Ironwood Pharmaceuticals closed at $12.69 yesterday.
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