Cantor Fitzgerald Downgrades Ironwood Pharmaceuticals (IRWD) to Sell; Recommend Taking Profits
Tweet Send to a FriendGet Alerts IRWD Hot Sheet
Price: $12.14 -2.33%
Rating Summary:
6 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
6 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade IRWD Now!
Cantor Fitzgerald downgraded Ironwood Pharmaceuticals (NASDAQ: IRWD) to Sell with a new price target of $10.00.
Cantor analyst said,"Our model already includes a strong Linaclotide ramp trajectory (U.S. peak sales of $2.8 billion) and promotional spending that is on the lower end of ranges provided by management. We think that we model a "best case" scenario for the company with healthy revenues and relatively low spending. But even under this rosy view, we do not get to profitability until 2017, and we expect additional financing needs in 2013, which could be dilutive. We don't expect investors to wait it out and therefore recommend profit taking based on the recent run-up in the stock."
For an analyst ratings summary and ratings history on Ironwood Pharmaceuticals click here. For more ratings news on Ironwood Pharmaceuticals click here.
Shares of Ironwood Pharmaceuticals closed at $14.31 yesterday, with a 52 week range of $9.97-$16.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Cantor analyst said,"Our model already includes a strong Linaclotide ramp trajectory (U.S. peak sales of $2.8 billion) and promotional spending that is on the lower end of ranges provided by management. We think that we model a "best case" scenario for the company with healthy revenues and relatively low spending. But even under this rosy view, we do not get to profitability until 2017, and we expect additional financing needs in 2013, which could be dilutive. We don't expect investors to wait it out and therefore recommend profit taking based on the recent run-up in the stock."
For an analyst ratings summary and ratings history on Ironwood Pharmaceuticals click here. For more ratings news on Ironwood Pharmaceuticals click here.
Shares of Ironwood Pharmaceuticals closed at $14.31 yesterday, with a 52 week range of $9.97-$16.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Bernstein Cuts BlackBerry (BBRY) to Underperform; Notes Weak BB10 Traction
- Deutsche Bank Sees Upside in AIG (AIG) Stock
- Goldman Sachs Removes Williams Companies (WMB) from CL Buy List; Downgrades Williams Partners (WPZ) to Neutral
Create E-mail Alert Related Categories
Analyst PT Change, DowngradesRelated Entities
Cantor Fitzgerald
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
